USD 485.87 billion
Report ID: SQSG30C2018 | Region: Global | Published Date: July, 2023 | Pages: 225 | Tables: 66 | Figures: 75
Ruminant Feed Market size was valued at USD 485.87 billion in 2021 and is poised to grow from USD 501.9 billion in 2022 to USD 672.24 billion by 2030, growing at a CAGR of 3.3% in the forecast period (2023-2030).
Animal husbandry relies heavily on cattle feed, which accounts for a major portion of overall costs. To lower the price of this food, many farmers may use cheaper feeds as well as by-products from other food production processes, such as leftover grain from beer production and other sources. The success of the livestock sector hinges in large part on the condition of the animals in it. High-quality, nutritionally complete feed is crucial to the health of animals. Feed acidifiers, feed enzymes, feed antibiotics, and feed microbes are all areas where the cattle feed sector is seeing growth. Increased interest in the quality of the components used in animal feed drives the demand for ruminant feed and propels market growth.
US Ruminant Feed Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 485.87 billion
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The Global Ruminant Feed Market is segmented based on animal type, ingredient type, and region. Based on animal type, the Ruminant Feed Market is segmented into dairy cattle, beef cattle, and other animals. Based on ingredient type, the Ruminant Feed Market is segmented into cereals, oil cakes and meals, food wastages, feed additives, and other ingredients. Based on region, the global Ruminant Feed market is segmented into North America, Europe, Asia-Pacific, South America, and MEA.
Ruminant Feed Market Analysis by Animal Type
The global ruminant feed market is segmented into dairy cattle, beef cattle, and other ruminant types of which the dairy cattle accounted for the largest market share globally in the year 2021. The increasing demand for milk and milk products is propelling the dairy cattle feed segment and will continue to do so during the analysis period. The beef cattle feed segment is expected to show tremendous growth during the analysis period. Beef cattle are generally free-range grazed animals but due to increasing demand and severe drought in various regions due to less rainfall the beef cattle are also fed with ruminant feed to increase weight and attain market sellable weight. These all factors are driving the ruminant feed demand globally and would propel the ruminant feed market growth during the analysis period.
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In 2021, North America accounted for more than 35% of the global ruminant feed market and this is due to the increasing demand for milk and milk derivatives in the region. Increasing demand for beef and other dairy by-products is the major reason for this dominance. Increasing awareness among farmers regarding the high-quality feed and its benefits the milk production and the health of the dairy animal are some of the major reasons for increasing demand for balanced feed in countries like The US and Canada. These are some of the major factors responsible for the growth of the ruminant feed market in the North American region.
Europe and the Asia Pacific regions are the fastest growing consumer of beef and dairy product which is also propelling the demand for balanced and nutritious ruminant feed in the region which will propel the demand for the ruminant feed market globally during the analysis period.
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Ruminant Feed Market Driver
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The ruminant feed market is relatively fragmented, with a high level of competition. Few large players, like Cargill Inc, De Heus, and ForFarmers, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability.
Ruminant Feed Market Top Player’s Company Profiles
Ruminant Feed Market Recent Developments
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According to our analysis, Animal husbandry relies heavily on cattle feed, which accounts for a major portion of overall costs. The global ruminant feed market is segmented into dairy cattle, beef cattle, and other ruminant types of which the dairy cattle accounted for the largest market share globally in the year 2021. North America, Europe, Asia-Pacific, South America, and MEA are some of the regions that make up the Global Ruminant Feed Market. The increasing demand for milk and milk products is propelling the dairy cattle feed segment and will continue to do so during the analysis period. North America accounted for more than %3% of the global ruminant feed market in 2021.
|Market size value in 2021||USD 485.87 billion|
|Market size value in 2030||USD 501.9 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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For the Global Ruminant Feed Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Ruminant Feed Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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