Cattle Feed and Feed Additives Market: Size, Share, Growth, Trends, and Forecast, 2018–2024
Sarasota, FL -- (SBWIRE) -- 06/22/2018 -- Cattle Feed and Feed Additives Market: Overview
Cattle feed and feed additives are being used to augment the quality of feed to boost yield and cattle's health. Feed additives are products used in animal nutrition so as to improve the quality of feed and the quality of food form animal provenance and is also used to improve the animals' performance and health, e.g. providing reinforced digestion of the feed ingredients. Industrialization of the dairy sector and the ever increasing demand for dairy products in Asia-Pacific and Middle East regions are expected to boost the demand for commercial feed and feed additives in the cattle sector.
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Cattle Feed and Feed Additives Market: Growth Factors
Rising awareness amongst consumers towards nutrition and safety of milk & meat, increasing meat consumption and demand for high nutritional meat at comparatively lower prices are the key drivers in the global cattle feed and feed additives market. Multiple disease eruptions in livestock animals including foot & mouth infections, swine flu, bird flu during the last decade has increased concerns regarding safety and quality of meat, milk and & milk products and is anticipated to boost the use of specialty additives in the global cattle feed and feed additives market. In the cattle feed market, the beef segment is expected to experience strong growth over the forecast period owing to developments in strengthening meat production and demand for beef cattle-specific customized services in developed countries whereas, cattle feed additives market is anticipating rapid growth in the feed acidifiers and feed enzymes segments. Escalating prices of raw materials, difference in management and regulation in different countries is sought to be a major challenge as it affects the global meat market unfavorably notably in developed and developing countries. However, growing demand for cattle feed on developing economies such as China, Brazil and India are providing newer opportunities in the global cattle feed and feed additives market.
Cattle Feed and Feed Additives Market: Segmentation
The global cattle feed and feed additives market is segmented on the basis of product type and animal type. Based on product type – vitamins, antibiotics, feed enzymes, antioxidants, feed acidifier and amino acid; based on animal type – mature ruminants and young ruminants.
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Cattle Feed and Feed Additives Market: Regional Analysis
Based on region Asia-Pacific is a major market owing to larger cattle population whereas North America is a vital market regarding consumption and production of feed additives and is expected to experience steady growth over the forecast period. Asia-Pacific and North America collectively account for 60% of the global cattle feed and feed additives market. India and China are the critical regions in Asia-Pacific for the demand of cattle feed and feed additives owing to expanding the dairy market and is anticipated to have a larger share in the global cattle feed and feed additives market compared to other regions over the forecast period.
Cattle Feed and Feed Additives Market: Competitive Players
Some of the major players in the global cattle feed and feed additives market are Cargill Inc., Evonik Industries AG, Archer Daniels Midlands, BASF SE, Adisseo France S.A.S, Kemin Industries, Elanco Animal Health, Nutreco N.V, BIOMIN Holding and Royal D.S.M
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Cattle Feed and Feed Additives Market: Regional Segment Analysis
The Asia Pacific
The Middle East and Africa