Global Cattle Feeds Market 2024 , Forecast To 2033
7 Mar, 2024
The cattle feeds market (10) has seen strong growth, rising from $65.44 billion in 2023 to $70.18 billion in 2024 at a CAGR of 7.3%, driven by livestock farming expansion. Projected growth indicates the market reaching $90.89 billion in 2028 at a CAGR of 6.7%, attributed to precision farming and alternative protein sources, with major trends including digitalization in supply chain management and consumer demand for sustainable feeds.
Global Cattle Feeds Market Key Driver
An increase in government subsidies for cattle is significantly contributing to the growth of the cattle feeds market (78). Governments all over the world have increased subsidies for cattle rustling because of the growing importance of cattle meat and products like milk, eggs (79). These government subsidies allow farmers to obtain better quality cattle feed for their animals and offer better nutrition and care (80). For instance, in 2022, the government of India launched the National Livestock Mission (NLM) to develop the animal husbandry sector (81). The scheme offers loans and subsidies, including up to 50% subsidy, a loan facility to livestock farmers, SHGs, FPOs, and companies (82). Therefore, an increase in government subsidies for cattle drives the cattle feeding market (83).
Get A Free Sample Of The Global Cattle Feeds Market ReportGlobal Cattle Feeds Market Segments
The cattle feeds market covered in this report is segmented –
1) By Ingredients: Cereals, Cakes and Mixes, Food Wastages, Feed Additives
2) By Cattle Type: Beef Cattle, Dairy Cattle, Calves
3) By Distribution Channel: Offline, Online
By Geography: The countries covered in the cattle feeds market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
Asia-Pacific was the largest region in the cattle feeds market in 2023. North America is expected to be the fastest-growing region in the forecast period.The regions covered in the cattle feeds market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, Africa.
Major Cattle Feeds Industry Players
Archer-Daniels-Midland Company; BASF SE; Cargill Incorporated; Kemin Industries Inc.; Land O'Lakes Inc.; Nutreco N.V.; Godrej Agrovet Limited; Farmer's Grain Company; Biomin Holding GmbH; United Farmers Cooperative; De Heus Voeders B.V.; Charoen Pokphand Group; New Hope Group Co. Ltd.; Kent Corporation; Tyson Foods Inc.; Alltech Inc.; Purina Animal Nutrition LLC; J.D. Heiskell & Co.; Ridley Corporation Limited; Hallway Feeds Inc.; Westway Feed Products LLC; Hi-Pro Feeds LP; Bartlett Milling Company L.P.; New-Life Mills Ltd.; Mercer Milling Company Inc.; Feed Energy Company; The Mosaic Company; Southern States Cooperative Inc.; Diamond V Mills Inc.; Hubbard Feeds Inc.; Furst-McNess Company LLC; Ranch-Way Feeds; Lakeland Feed and Supply Inc.; Gilman Co-Operative Creamery Association; Chubby Mealworms LLC; Bagdad Roller Mills Inc.
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Cattle Feeds Market Overview
Cattle feeds are a mixture of silage, grain, hay, supplement, salt, by-product, salt, mineral, and vitamin that are fed to cattle and domestic animals such as livestock. This helps in animal well-being in various aspects such as it increases milk production, and reproductive efficiency of the livestock.