Global Cattle Feed And Feed Additives Market 2022 – Market Opportunities And Strategies
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The cattle feed and feed additives market is forecasted to achieve high growth in the coming few years with a forecast CAGR (compound annual growth rate) of more than 3%, as per The Business Research Company’s market report!
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The Cattle Feed And Feed Additives Market Size In 2022 And Forecast
The global cattle feed and feed additives market is expected to grow from $ 53.33 billion in 2021 to $ 57.01 billion in 2022 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The cattle feed and feed additives market is expected to reach $ 64.98 billion in 2026 at a CAGR of 3.3%.
The cattle feed and feed additive market consists of sales of cattle feed and feed additive products by entities (organizations, sole traders, and partnerships) that refer to ground, pelleted, crumbled, or mixed feed used for feeding cattle.
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Growth In Livestock And Animal Husbandry Industry Is Driving The Growth Of The Cattle Feed And Feed Additives Market
For instance, according to data by Eurostat, a Luxemburg-based Directorate-General of the European Commission, in the 2021 political and economic union of 27 European nations, the livestock population of Europe is valued at 297 million, which is 146 million pigs, 76 million bovine animals, and 75 million sheep and goats. Furthermore, according to Business Line, an India-based newspaper, for the year 2019, animal husbandry, dairy, and fishing were valued at 8.6% in India. Also, the milch cattle population increased by 10.5 % to 74.6 million in 2019, and it was expected to increase by 60% by 2030. Therefore, the growing livestock and animal husbandry are driving the growth of the cattle feed and feed additives market.
Competitive Landscape And The Regional Analysis Of The Cattle Feed And Feed Additives Market
Major players in the cattle feed and feed additives market are Adisseo France S.A.S, Archer Daniels Midland company, BASF SE, Biomin, Cargill Incorporated, Charoen Pokphand Foods PCL, Chr. Hansen Holding A/S, Country Bird Holdings Limited, Evonik Industries AG, Hansen Holdings, Kent Corporation, Land O’Lakes Inc., Nutreco N.V., Alltech, Koninlijke DSM N.V., Elanco Animal Health Incorporated, Kemin Industries, and New Hope Group.
Additionally, as per TBRC’s research – Asia Pacific was the largest region in the cattle feed and feed additives market in 2021 holding the largest market share.
The Cattle Feed And Feed Additives Global Market Report 2022 covers regional data on key drivers, opportunities, and strategies for the seven major regions of the world that are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa. The countries covered in the cattle feed and feed additives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The report includes market size and forecast market shares for all the regions and countries with respect to the major players of the cattle feed and feed additives market.
Technological Advancement – A Key Trend In The Cattle Feed And Feed Additives Market
Major companies operating in the cattle feed and feed additives sectors are focused on introducing new technologies to reinforce their position.
Cattle Feed And Feed Additives Market Segmentation By The Business Research Company
1) By Ingredient: Corn, Soybean Meal, Wheat Oil Seeds and Grains, Other Ingredients
2) By Product: Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Acidifiers, and Other Products
3) By Application: Beef Cattle, Dairy Cattle, Calves, and Other Applications
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