The new report by Expert Market Research titled, ‘Global Cattle Feed Market Price, Report and Forecast 2023-2028, gives an in-depth analysis of the global cattle feed market, assessing the market based on its segments like cattle type, distribution channel and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2023-2028)
• Historical Market Size (2020): 63.95 billion USD
• Forecast CAGR (2023-2028): 3.80 %
• Forecast Market Size (2022-2027): 79.8 billion USD
The global cattle feed market is driven by the increasing demand for animal produce. Aided by rising concerns regarding animal welfare, the market is expected to grow at a CAGR of 3.80% in the forecast period of 2022-2027 to reach approximately USD 79.8 billion by 2026.
Besides, because of the increment in group sizes, logical techniques for getting sorted out and overseeing farms is moving farmers to embrace cattle feed, which is high in nourishment, consequently advancing bigger yields and henceforth helping the general development of the market.
Also, patterns encompassing the progressive shift from chaotic livestock farming to the coordinated area in emerging nations, significantly because of the development of the modern area, is supporting the market for cattle feed.
Industry Definition and Major Segments
Cattle feed alludes to the food given to domestic animals, particularly livestock. The essential point of feeding quality feed to cattle is to work on the animals’ wellbeing and, subsequently, increase the quality of their produce.
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On the basis of cattle type, the market can be divided into categories :-
• Beef
• Dairy
The market, based on distribution channel, can be categorised into two modes :-
• Offline
• Online
On the Basis of region, the market can be divided into various regions :-
• North America
• Europe
• The Asia Pacific
• Latin America
• The Middle East and Africa
Market Trends
The expanding focus on animal welfare is a critical component, adding to the market development of cattle feed all over the planet. Because of the foundation of different not-for-profit associations, individual volunteers, and rising mindfulness with respect to animal wellbeing on social media, the interest for unadulterated animal nourishment is expanding the market development of cattle feed. This can be credited to the expanding pervasiveness of animal illnesses, which can adversely affect the two animals as well as animal produce, consequently impelling livestock farmers to secure quality cattle feed.
Notwithstanding the previously mentioned factors, guidelines revolved around manageability are relied upon to help the market development of cattle feed. Limitations on nitrogen run-off are relied upon to strengthen lower protein diets, and accuracy counts calories assessed by information driven innovation to support the green economy, advance animal wellbeing, and incremental animal yields are relied upon to drive the market development of cattle feed over the forecast period.
Key Market Players
The major players in the market are Archer Daniel Midland Company, BASF SE, Beijing Goke Agriculture Machinary Co. Ltd, Cargill, Inc., Charoen Pokphand Foods PCL and Others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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