Over the projected period (2022-2032), the worldwide cattle feed market is expected to rise at a CAGR of 4.0 percent, reaching a value of US$ 125.8 billion by 2032.
The global market has profited by the commercialization of cattle products such as dairy and meat, as well as the expanding population. Consumer knowledge of the safety and nutritional value of meat and dairy products has become a fundamental driver of corporate success.
There are two types of cattle: young ruminants and adult ruminants. Amino acids, feed acidifiers, vitamins, feed enzymes, antibiotics, antioxidants, and other supplements are used depending on the age of the ruminants. Vitamin A and mineral supplements, such as Availa-4 and 20-10 Plus Mineral, are commonly used in cattle to boost immune function, reproduction, and vision, as well as rectify deficiencies. The majority of a cattle’s diet consists of fodder, legumes, grass, and silage.
Furthermore, public awareness of livestock-related ailments such as foot and mouth disease has increased consumer concerns about meat quality and safety, pushing the use of high-quality feed components. Demand for primary grains such as barley, maize, and wheat from other commercial applications such as biofuel and food is expected to constrain market growth in the coming years.
Cattle feed makers are concentrating their efforts on R&D, product innovation, geographic expansion, collaborations, and mergers and acquisitions to expand their customer base. Archer Daniels Midland Company (US) and Quality Liquid Feeds, Inc. (US), for example, formed a 50-50 joint venture to make and distribute liquid feed additives for cattle.
At the International Production & Processing Expo, Cargill, Incorporated (US) presented Proviox Breeding, a new version of Cargill’s plant-based antioxidant Proviox created exclusively for breeder birds.
Key Takeaways from Market Study
- By the end of 2032, North America is predicted to have a maximum value share of roughly 33% of the worldwide market.
- In Europe, consumers are forced to choose antibiotic replacements, and direct-fed microbial are emerging as better cow feed additives as a result of ongoing bans on the use of antibiotics in bovine feeds.
- In emerging markets, the beef cattle category is a crucial contributor to growth.
The outbreak of COVID-19 disrupted the Cattle Feed supply chain, resulting in a market slowdown. However, with economies giving opportunities and increasing consumer demand for healthy and nutritious feed products, the market is likely to rise significantly.