Cattle Feed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Cattle Feed Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global cattle feed market is projected to register a CAGR of 3.2% over the forecast period (2021-2026).

Key Highlights

• The United Nations Food & Agriculture Organization (FAO), projects a 1.7% year-on-year increase in the demand for cattle products by 2050, with the demand for dairy products projected to increase by 55% and that of beef by 70%. The increasing demand for milk and dairy products in developing countries will boost the global market during the forecast period. Europe and North America have a significant consumption share of dairy products and meat currently, while rapid growth has been projected in the Asia-Pacific and Latin American regions.
• Increased demand for dairy products and beef has led to increased industrialization of cattle rearing. This translates to an increase in herd sizes, increased use of compound feed and better scientific management of cattle. This phenomenon has helped in the growth of the cattle feed market.

Key Market TrendsIncreasing Industrialization of Livestock Production in Developing Countries

Increasing population and the need for satisfying the nutritional and taste preferences of the population in developing countries has led to increased industrialization of livestock production. In developing countries, cattle rearing has traditionally been a backyard occupation. However, with increased demand and more awareness regarding the economies of scale of maintaining larger herds, the cattle rearing in these countries have started to transform. For instance, in 2016, India produced 155.5 million metric ton of milk from a 189.3 million population of cattle, which was 195.8 million. milk production has increased to 187.7 million metric ton from 193.4 million population of cattle. Increased industrialization of cattle husbandry would lead to the adoption of advanced management practices including the usage of compound feed in appropriate dosages. This is expected to provide a fillip to the growth of the cattle feed market over the forecast period.

North America Dominates the Global Market

In the North America, United States consumed a total of 284.0 million metric ton of animal feed in 2019, of which 64.5 million metric ton accounted for feed consumed for beef cattle. Cattle feed production and consumption is following a nominal year on year growth in the region, but the region accounts for a major share in the cattle feed market. The market for cattle feed in the region is characterized by the presence of large multinational corporations such as Cargill Inc., Land 'O Lakes, ADM, among others who have strong presence across the United States and Canada.

Competitive Landscape

The global cattle feed market is highly fragmented with numerous local and regional players vying for increasing market shares in a market that has a strong presence of multinational players. The fragmented supply of raw materials and the geographically dispersed consumer group in developing markets provide significant opportunities for local feed manufacturers to maintain a niche group of customers.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

Cargill Inc
Archer Daniels Midland Company
Land O'Lakes Inc.
De Heus
For Farmers, Inc.
DBN Group
Biomin
New Hope Lihue
Wen's Food Group
Godrej Agrovet Limited

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