Cattle Feed Market - Forecast(2021 - 2026)

 Animal farming sector accounts for nearly 40% of the global agricultural production value (FAO).[1]

Since the inception of biotechnology, it has paved the way for mankind towards admission in numerous untouched horizons. Drifting through its prism, numerous sectors have evolved in terms of their principal role of existence. Leveraging this stride, the cattle feed market has progressed from being a mere source of nutrition to an intricate domain developing improved cattle feed additives in accordance with nutrient content, digestibility, efficient nutritional livestock yields, and cattle feed appropriate for region and season in order to meet the requirement of animals. The demand for milk and meat is increasing in most part of the world and hence the farmers are now more concerned over the health and yield of the cattle which in turn is serving the global cattle feed market growth. The abundant potential has driven this arcade to reach a staggering market size of $16 - $17 billion as of 2018.

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Cattle Feed Market Outlook:

Meat to meet global food demand-

The International Assessment of Agricultural Knowledge, Science and Technology for Development (IAASTD) has addressed the global meat consumption to be pacing up with an impeccable 120% from 2000-2050.[2] This has raised the demand for higher yields of cattle for efficient production of meat products, hence progressing the cattle feed market at a global compound annual growth rate (CAGR) of 3.1% during the forecast period of 2019-2025. Cattle feed contains grains, brans, cakes, mineral mixtures, and vitamins as a source of protein, energy, minerals and vitamins. Additives loaded with vitamins, minerals, amino acids, enzymes, acidifiers, antibiotics, and antioxidants boost the yielding capacity of cattle.

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 Daily dairy demand-

Cattle feed market demand is not limited to the consumption of meat products. Other prominent sector positively impacting the animal feed market is the global dairy industry. As per the International Dairy Federation, consumption of dairy products is expected to increase by 25% between 2015 and 2024, therefore dairy operations to match their production with unprecedented demand is augmenting the application of amino acids and subsequently disrupting the cattle feed market in dairy cattle segment. Globally, there are around 150 million small-scale dairy households.[3] Hence, under the types of animal segment of the cattle feed market, dairy cattle holds the apex spot. Owing to the rampant pace of dairy products demand, dairy cattle is estimated to be progressing at an application CAGR of 2.5% going through 2025.

After an acute analysis of the regional aspects, APAC is reckoned to be the dominating region with 45% of cattle feed market global demand settling under its territory. Such dominance can be attributed to several factors such as the increasing population of cattle as a consequence of increasing meat consumption trends among the urban middle-classes in densely populated economies of India and China with nearly 35% of global population. Improving health awareness among individuals is creating demand for livestock-based proteins such as milk, egg and meat.

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