Cattle feed is the dietary source of nutrients such as minerals for adult, growing, milk producing, and pregnant cattle. According to a detailed report offered by Market Research Future (MRFR), the global cattle feed market is likely to reach a significant market valuation at a substantial CAGR over the forecast period of 2017 to 2022.
The global Cattle Feed Market Size is likely to be driven by factors such as the growing demand for milk products in developing nations, especially from the Asia Pacific region, since good quality cattle feed helps to improve the optimal level of milk production, demand for milk products from the food and beverages industry in the beverage and bakery sector, which in turn positively influences the demand for cattle feed. Additionally, the growing awareness of organic livestock farming, along with the increasing demand for high protein food products, is expected to contribute to market growth during the forecast period.
The global cattle feed market is also driven by the need for quality enhancement of cattle feed, owing to the growing global demand for dairy products. In addition, the implementation of advanced technology for real-time monitoring of cattle farms and growing research projects for the development of innovative additives of cattle feed to enhance the quality of the feed, cattle and in turn improve the milk production to meet the high demand, are lucrative factors to the market and are estimated to contribute substantially to the market growth over the forecast period.
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The global cattle feed market has been segmented based on the feed ingredients, application, additives, and region. Based on feed ingredients, the market has been segmented into corn, soybean meal, wheat, oilseeds, and others. Among these, the corn segment is accounted for the highest market share during the forecast period.
Based on application, the market has been segmented into beef, calf, dairy, swine, and others. Among these, the dairy segment is assessed to witness the highest market share during the forecast period.
The key market players recognized in the global cattle feed market are Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Land O’lakes Inc. (U.S.), BASF SE (Germany), Charoen Pokphand Group (Thailand), Nutreco N.V. (Netherlands), Royal DSM N.V. (Netherlands).
The global Cattle Feed market is segmented into North America, Europe, Asia Pacific, and the rest of the world. North America is assessed to sustain its dominant market standing through the forecast period, owing to the established cattle feed, and dairy market, presence of significant market players in the region, the technological advancement in the cattle feed market and the awareness regarding the new product development among consumers is driving the market growth of cattle feed. Europe region is estimated to witness significant market growth over the forecast period, owing to the established dairy market, the constant demand for dairy products as a raw material in the food and beverage industry.
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