Cattle Feed Additives Market size was over USD 87.35 billion in 2023 and is expected to exceed USD 156.74 billion by the end of 2036, growing at over 4.6% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of cattle feed additives is evaluated at USD 90.56 billion.
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 cattle feed additives cattle feed additives market.
Growth Drivers
Increasing Consumption and Demand for Highly Nutritious Beef and Dairy Products
Rising Awareness Regarding Diseases in Cattle
Shift from Unorganized to Organized Livestock Farming
Challenges
Growing Trend of Opting Vegan Food
Stringent Regulatory Policies for the Standard of the Feed Additives
|
2023 |
|
|
Forecast Year |
2024–2036 |
|
CAGR |
4.6% |
|
Base Year Market Size (2023) |
USD 87.35 billion |
|
Forecast Year Market Size (2036) |
USD 156.74 billion |
|
Regional Scope |
|
The cattle 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.
Our in-depth analysis of the global market includes the following segments:
|
Ingredient Type |
|
|
Additive Type |
|
|
Application |
|
Regionally, the cattle 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 industry is anticipated to hold largest revenue share by 2036, owing to large cattle population in the developing economies of the region. 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.
Author Credits: Parul Atri
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?