The cattle feed market is estimated to be worth USD 83.4 billion in 2024 and is projected to be valued at USD 127.8 billion in 2034. Between 2024 and 2034, the industry is expected to register a CAGR of 4.4%.
The growing demand for premium meat and dairy products worldwide is one of the key factors propelling the growth of the cow feed industry. There is an increasing trend toward diets high in protein as the world’s population and wealth rise, especially in emerging economies.
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Increased livestock production is required to meet the growing demand for meat and dairy products, which in turn fuels the need for effective and nutrient-rich cattle feed. The market for cow feed is expanding due to the growing need for animal protein, which is also fueled by factors like urbanization, changing dietary patterns, and the rise of the middle class.
Rising economic growth in emerging economies is linked to rising disposable incomes, which in turn drives up animal protein consumption. The market for cow feed is expanding due to this tendency, which also increases consumer demand for animal products.
Livestock farmers are becoming more conscious of the value of animal welfare and nutrition in their operations. The market is growing due to this awareness, which increases demand for premium specialty feeds that satisfy the nutritional needs of various animal growth and development phases.
Key Takeaways
- From 2019 to 2023, the cattle feed market expanded at a CAGR of 4.06%.
- Based on the product type, the concentrate food segment is expected to account for a market share of 43.5% in 2024.
- The demand for cattle feed in Germany is predicted to grow at a CAGR of 3.5% through 2034.
- In the United States, the cattle feed industry is estimated to register a CAGR of 2.8% from 2024 to 2034.
- China is projected to expand by a CAGR of 2.1% between 2024 and 2034.
- The cattle feed market in India is anticipated to record a CAGR of 8.2% during 2034.
“The demand for cattle feed is influenced by factors such as population growth, urbanization, disposable incomes, dietary preferences, and government policies supporting animal husbandry,” says an FMI analyst.
Competitive Landscape
The cattle feed market has a very fragmented competitive landscape with a wide range of domestic and foreign competitors. Major businesses are concentrating on growing their product line and geographic reach to get a competitive edge in the industry.
- Provider of premixes, additives, and feed solutions for cattle, pigs, poultry, and aquaculture, Nutreco is a worldwide leader in animal nutrition and aquafeed. To ensure effective and sustainable feed production methods, Nutreco provides a wide range of feed products and services designed to enhance animal health, welfare, and productivity.
- A diverse agricultural cooperative, Land O’Lakes is involved in the dairy, animal nutrition, and crop inputs industries. With an emphasis on boosting productivity, profitability, and sustainability for livestock farmers, Land O’Lakes offers a broad selection of feed products, supplements, and nutritional programs for dairy and beef cattle in the cattle feed industry.
More Valuable Insights Available
Future Market Insights offers an unbiased global cattle feed market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand opportunities in the cattle feed industry, the industry is segmented based on the By Product Type (Concentrate Foods, Roughages (Pasture, Hay, Silage, Straw & Hulls, and Root Crops), and Feed Additive) Form (Powder, Textured Cattle Feed) and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, Middle East, and Africa).
Information Source: https://www.futuremarketinsights.com/reports/cattle-feed-market
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