Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
The global cattle feed & feed additives market is estimated to attain a significant CAGR over the forecast period, i.e., 2021-2029, on the back of growing worldwide demand for cattle derived products, including beef and dairy products, among others, and rising awareness for cattle health. Increasing hazard of diseases such as anthrax and mad cow disease in the cattle and awareness regarding feed quality are also major drivers for the growth of the cattle feed & feed additive market. The growing demand for healthy, nutritious and disease free beef and dairy products is assessed to boost the market growth by the end of 2029. Moreover, cattle rearing used to be a highly unorganized occupation with minimal to no growth. However, the global shift from unorganized to organized livestock farming is anticipated to generate opportunities for the growth of the market.
The cattle feed & feed additives market is segmented on the basis of ingredient type into oilseeds & grains, soybean meal, corn, wheat, and others, out of which the soybean meal segment is anticipated to hold a significant market share by the end of 2021. Soybean meal is rich in protein content which is essential for improving muscle gain as well as lactation abilities of the cattle. Based on application, the beef cattle segment holds a considerable market share throughout the forecast period, on the back of growing global demand for nutritious beef. In the year 2020, the global beef consumption crossed 60 metric kilotons.
However, the growing trend of veganism along with stringent regulatory policies on standards of feed additives is anticipated to hamper the market growth in the upcoming years. CLICK TO DOWNLOAD SAMPLE REPORT
Regionally, the global cattle feed & feed additives market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.
The market in the Asia-Pacific region is estimated to witness highest growth by the end of 2029, owing to the large cattle population in the developing economies such as India and China. As per the data of the Department of Animal Husbandry & Dairying, shared by the Press Information Bureau of India, the total population of cattle in the country reached 192.49 million in the year 2019. Moreover, high dependence on livestock farming for livelihood in the region is estimated to promote the market growth.
The market in the North America is also estimated to hold a significant share by the end of 2029, on account of high consumption of beef in the region, which raises the need to improve livestock yield and supply better quality products. As a result, this is foreseen to promote the use of good quality feed and feed additives which, in turn, will boost the market growth. Furthermore, the market growth in the region is projected to be driven by the increasing demand for the production of beef. According to the statistics by the U.S. Department of Agriculture (USDA), the total beef & veal production increased from 11,943 (‘000 metric tons) in 2017 to 12,384 (‘000 metric tons) in 2019.
The market in Latin America, especially in nations, such as, Brazil and Argentina among others, is anticipated to experience modest market growth over the forecast period on the back of increasing livestock farming and beef consumption in the region. Brazil is estimated to be one of the biggest beef consuming nations, globally, along with China, and USA. In the other statistics by USDA, the total domestic consumption of beef in Brazil accounted to 7,929 (‘000 metric tons) in 2019.
The global cattle feed & feed additives market is further classified on the basis of region as follows:
Our in-depth analysis of the global cattle feed & feed additives market includes the following segments:
FREQUENTLY ASKED QUESTIONS
Rising demand for meat and dairy products is the major factor driving the market growth.
Rising demand for meat and dairy products is the major factor driving the market growth.
Growing trend of vegan food, and rigorous policies regarding the quality standards of feed and additives are the major factors estimated to hamper the market growth.
Asia Pacific market is anticipated to provide highest business opportunities to the global cattle feed & feed additives market on the back of large cattle population in the region along with raise in adopting livestock farming as an occupation.
The major players in the market are Cargill Incorporated, Archer Daniels Midland Company, Adisseo Group, Nutreco N.V., Phibro Animal Health Corporation, and others.
The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.
The market is segmented by ingredient type, additive type, application, and by region.
The beef cattle segment is anticipated to hold largest market share owing to globally increasing beef consumption especially in major economies such as USA and China.
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