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“Cattle Feed & Feed Additives Market: Global Demand Analysis & Opportunity Outlook 2021”
The global cattle feed & feed additives market is segmented into product type such as vitamins, antibiotics, feed enzymes, antioxidants, feed acidifier and amino acid. Among these segments, amino acids segment is expected to occupy top position in overall cattle feed & feed additives market during the forecast period. Increasing sale of livestock food formulation supplement including amino acids is expected to drive the growth of global amino acids cattle feed & feed additives market. Furthermore, wide scale application of major amino acids such as lysine, methionine and others is predicted to trigger the growth of the amino acids cattle feed and feed additive market
Global cattle feed & feed additives market is expected to flourish at a significant CAGR of 7% during the forecast period. Moreover, the global cattle feed & feed additives market is expected to garner USD 33.6 Billion by the end of 2021. The global demand for cattle feed & feed additives are increasing due to the increasing healthcare concern about cattle among farmers. Further, growing value of meat products are also expected to fuel the growth of the global cattle feed & feed additives market over the forecast period.
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Asia Pacific captured the largest share in overall cattle feed & feed additives market in 2016. Moreover, Asia Pacific is expected to continue its dominance over the forecast period. This can be attributed to high cattle population share of Asia Pacific (about 36%) as compared with rest of the world. Strong growth in the meat export from Asia Pacific is also expected to impel the growth of cattle feed & feed additives market. North America cattle feed and feed additive market is expected to expand at a significant CAGR during the forecast period i.e. 2016-2024.
Increasing Awareness about Cattle Feed & Feed Additives
Rising awareness about the benefits of feed additives such as prevention of disease is driving the growth of the cattle feed & feed additives market. Apart from this, increasing spending on livestock animals is anticipated to boost the growth of the cattle feed & feed additive market during the forecast period. Further, rising disposable income of the population is allowing them to spend more on such products.
Growing Demand for Meat in the World
Strong growth in the trend of protein rich diet is increasing the demand for meat across the globe. Owing to this growing meat demand, cattle owners are becoming more conscious over the health of cattle. Further, improvement in the quality of feed additives is expected to impel the demand for cattle feed & feed additives in the upcoming years.
Although, rising price of raw materials and slow adoption rate in undeveloped nations are some of the factors is likely to dampen the growth of global cattle feed & feed additives market during the forecast period.
The report titled “Cattle Feed & Feed Additives Market: Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the global cattle feed & feed additives market in terms of market segmentation by product type, by animal type and by region.
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Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global cattle feed & feed additives market which includes company profiling of Cargill Incorporated, Evonik Industries AG, Archer Daniels Midlands, Company, Adisseo France S.A.S, Nutreco N.V, Kemin Industries, BASF SE, BIOMIN Holding GmbH and Elanco Animal Health. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global cattle feed & feed additives market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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