Overview and Scope
Cattle feed additives refer to the products that are used to increase cattle nutrition and are added to cattle feed to provide complete nutrition to farm cattle. These are ground, pelleted, crumbled, or mixed feed used for feeding cattle. These feeds are balanced for various nutrients as per cattle needs. Feed additives are compounds fed to cattle for reasons other than supplying nutrients, such as promoting good cattle health and improving their growth.
Sizing and Forecast
The cattle feed & feed additives market size has grown strongly in recent years. It will grow from $60.98 billion in 2023 to $64.36 billion in 2024 at a compound annual growth rate (CAGR) of 5.5%. The growth in the historic period can be attributed to population growth, income levels, urbanization, disease outbreaks.
The cattle feed & feed additives market size is expected to see strong growth in the next few years. It will grow to $80.96 billion in 2028 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to sustainable practices, health and wellness trends, global trade policies, climate change concerns. Major trends in the forecast period include innovations in feed additives, alternative protein sources, digitalization in agriculture, consumer demand for transparency.
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Segmentation & Regional Insights
The cattle feed & feed additives market covered in this report is segmented –
1) By Іngrеdіеnt: Cоrn, Ѕоуbеаn Меаl, Whеаt, Oil Seeds And Grains, Other Ingredients
2) By Product: Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Acidifiers, Other Products
3) By Аррlісаtіоn: Вееf Саttlе, Dаіrу Саttlе, Саlvеѕ, Оthеr Applications
Asia-Pacific was the largest region in the cattle feed and feed additive market in 2023. The regions covered in the cattle feed & feed additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The growing livestock and animal husbandry industry is expected to propel the growth of the cattle feed and feed additives market going forward. Livestock refers to cattle, sheep, horses, goats, and other domestic animals ordinarily rose on a farm. Cattle feed and feed additives are used on farms for raising livestock and animals, which helps to add nutrients to their food and aids their faster growth. For instance, according to data by Eurostat, a Luxemburg-based Directorate-General of the European Commission, in the 2021 political and economic union of 27 European nations, the livestock population of Europe is valued at 297 million, which is 146 million pigs, 76 million bovine animals, and 75 million sheep and goats. Therefore, the growing livestock and animal husbandry are driving the growth of the cattle feed and feed additives market.
Key Industry Players
Major companies operating in the cattle feed & feed additives market report are Bluestar AdisseoCompany, The Archer Daniels Midland company, BASF SE, Biomin Pte Ltd., Cargill Inc., DuPont de Nemours Inc., Evonik Industries AG, Koninklijke DSM N. V., Solvay SA, Ajinomoto Co. Inc., Novozymes A/S, Chr. Hansen A/S, Nutreco N. V., Kemin Industries Inc., Alltech, Land O’Lakes Inc., Provimi, EWOS Group, Nestlé Purina PetCare Company, ForFarmers NV, Tyson Foods Inc., Wens Foodstuff Group, BRF S. A., Cactus Feeders Inc., The Kent Nutrition Group, Ridley Corporation Limited, JBS Holdings Inc., The Mosaic Company, Nutriad International NV, Phibro Animal Health Corporation, Perdue Farms, Sanderson Farms, Smithfield Foods Inc., Southern States Cooperative, The Scoular Company, Viterra Inc., Wilbur-Ellis Company Inc., Zoetis Inc.
The cattle feed & feed additives market report table of contents includes:
1. Executive Summary
2. Market Characteristics
3. Market Trends And Strategies
4. Impact Of COVID-19
5. Market Size And Growth
6. Segmentation
7. Regional And Country Analysis
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
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