Product ID: SQSG30C2020
Global Cattle Feed Market Size, Share, Growth Analysis, By Ingredients(Wheat, Corn), By Application(Dairy feed, Beef feed) - Industry Forecast 2024-2031
Report ID:
SQSG30C2020 |
Region:
Global |
Published Date: April, 2024
Pages:
270
|
Tables:
63 |
Figures:
75
Global Cattle Feed Market Insights
Global Cattle Feed Market size was valued at USD 76.267 billion in 2019 and is poised to grow from USD 79.2 billion in 2023 to USD 104.18 billion by 2031, growing at a CAGR of 3.92% in the forecast period (2024-2031).
Globally, the market has benefited from the industrialisation of cattle products including meat and dairy products as well as the rising population. The main factor driving market expansion is the rise in consumer knowledge of the nutritional value of food as well as the safety of meat and milk products. Young ruminants and mature ruminants are two categories of cattle. Amino acids, vitamins, feed acidifiers, antibiotics, feed enzymes, antioxidants, and other supplements are used depending on the age of these ruminants. Products containing vitamin A and minerals, such as Availa-4 and 20-10 Plus Mineral, are frequently used to boost cattle's immune system, reproductive ability, and vision as well as to fill nutritional gaps.
Given that China is a significant producer of raw materials in the area, the creation of Covid-19 in Wuhan, the capital of Hubei province, has had an adverse effect on the supply-demand of ingredients and additives. In addition, it was unable to get essential materials, such as soybean meal, to the cattle farms because of travel restrictions to and from the nation. Chinese firms are still having trouble exporting their goods, despite the country's lifting of the restriction on the movement of necessities. China manufactures the vast bulk of the world's supply of substances, such as Vitamin B & D, lysine, and threonine. Due to slowed exports and shipping interruptions, major goods consumers in North America and Europe have suffered the most throughout the pandemic. As a result of the resulting supply chain constraints, prices also increased. However, it is predicted that fewer limitations on globally critical resources will increase product demand.
US Cattle Feed Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Cattle Feed Market Report Snapshots
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