PUBLISHER: The Business Research Company | PRODUCT CODE: 1392536
PUBLISHER: The Business Research Company | PRODUCT CODE: 1392536
“Cattle Feed & Feed Additives Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on cattle feed & feed additives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for cattle feed & feed additives? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The cattle feed & feed additives market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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.
The main types of ingredients in cattle feed and feed additives are corn, soybean meal, wheat, oil seeds, grains, and others. Corn is used as livestock feed, biofuel, and raw material in the farm industry. Corn is a tall American cereal grass plant widely grown for its large ears of starchy grain, which come in wide varieties. The different products include antibiotics, vitamins, antioxidants, amino acids, feed enzymes, and acidifiers and involve various applications such as beef cattle, dairy cattle, calves and others.
The cattle feed and feed additives market research report is one of a series of new reports from The Business Research Company that provides cattle feed and feed additives market statistics, including global market size, regional shares, competitors with a cattle feed and feed additives market share, detailed cattle feed and feed additives market segments, market trends and opportunities, and any further data you may need to thrive in the cattle feed and feed additives industry. This cattle feed and feed additives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
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.
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.
An increase in consumption of meat is expected to propel the growth of the cattle feed and feed additive market going forward. Meat refers to the flesh of animals, typically livestock and poultry, that is used as a source of food. As people eat more meat, such as beef, it creates a greater need for cattle feed to ensure the animals are healthy and produce good-quality meat. Feed additives are also used to boost cattle growth and health. This rising demand for meat leads to increased production of cattle, which in turn drives the market for feed and additives that support their nutrition and well-being. For instance, in 2022, according to the OCED (Organisation for Economic Co-operation and Development), an intergovernmental organization based in France, the US consumption of meat increased to 10,191. 61 thousand metric tons in 2021. Therefore, the increase in consumption of meat is driving the growth of the cattle feed and feed additive markets.
Technological advancements are a key trend gaining popularity in the cattle feed and feed additive market. Major companies operating in the cattle feed and feed additives sectors are focused on introducing new technologies to reinforce their position. For instance, in June 2021, Charoen Pokphand Foods PCL, a Thailand-based agro-industrial company, developed a unique feed formula that contains microorganisms and improves the digestive systems of farm animals through animal food that fits different ages and types of animals. This probiotic technology keeps animals healthy and strong without the use of growth hormones or antibiotics. The product also protects animals from diseases and improves immunity.
Major companies operating in the cattle feed additives market are developing strategic partnerships for the company and market development. In January 2023, Nutreco, a Netherlands-based animal nutrition company that also manufactures cattle feed additives, partnered with BiomEdit, a US-based microbiome research company, to enter into a long-term research and commercial partnership to produce novel feed additives. Through this partnership, they will combine BiomEdit's microbiome science and bioinformatics platform with Nutreco's feed to develop novel feed additives, providing benefits to animal feed in poultry, swine, cattle, and aquaculture. The collaboration is industry-first, focusing on the discovery, development, and commercialization of next-generation ultra-specialty feed additives called Biome-actives to address livestock producers' health and sustainability challenges. By leveraging BiomEdit's advanced microbiome discovery platform and Nutreco's expertise and commercial deployment capabilities, the companies will launch novel feed additive products that address some of the most important problems in animal health, sustainability, and food security.
In February 2023, Adisseo, a French-based animal nutrition company, acquired Nor-Feed for an undisclosed amount. This acquisition is part of the Adisseo Group's strategy to become one of the world leaders in specialty ingredients for animal nutrition. Nor-Feed is a French-based animal nutrition additive manufacturer specializing in plant-based ingredients.
Major companies operating in the 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, Nestle 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.
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
The countries covered in the cattle feed & feed additives market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.
The cattle feed and feed additive market consists of sales of antibiotics, acidifiers, vitamins, and enzymes. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified)).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.