Based on animal type, the global cattle feed market is categorized in three broad segments namely mature ruminants, young ruminants, and others.
New York, NY -- (SBWIRE) -- 08/12/2016 -- Cattle feed and feed additives are used for improving the quality of feed to enhance yield and overall cattle's health. Cattle feed are gaining popularities mainly due to the enhance performance and increasing application such as growth promoter, prevention and cure of diseases and for improving feed digestibility in cattle.
Based on animal type, the global cattle feed market is categorized in three broad segments namely mature ruminants, young ruminants, and others. Based on the different product type, the market is segmented in six broad categories: antibiotics, vitamins, antioxidants, amino acid, feed enzymes, feed acidifier and others.
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The rising awareness among consumers towards the nutritional content and safety of milk and meat, coupled with recent disease epidemic in cattle are some of the leading drivers of the market. Moreover demand for milk and meat is increasing in most part of the world and hence the formers are now more concern over the health and yield of the cattle which in turns helping the global cattle feed and feed additives market.
Increasing prices of raw materials is one of the major challenges for the industry. However, the growing demand of cattle feed from the emerging economics such as China, Brazil and India are providing new growth opportunities for the cattle feed and feed additives markets. The manufacturers are advancing their production technology for both cost and capacity benefits.
Asia Pacific is the largest market for cattle feed and feed additives market attributed to the large share of cattle population in this region. It is followed by North America and Europe. Asia Pacific and North America collectively account for more than 60% of the total market share of cattle feed and feed additives market. Asia Pacific is also the fasted growing region mainly fueled by the increasing demand from China and India. The rising dairy market in this region is expected to boost the cattle feed and feed additives market in upcoming years.
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Some of the major companies operating in global cattle feed market include, Kent Corporation Godrej Group, Land O'lakes Inc., V. H. Group., Archer Daniels Midland Company, BASF SE, Cargill, Inc., CHR., Hansen Holdings A/S., Evonik Industries AG, and Royal DSM N.V.