28-Sep-2020 | Zion Market Research
As per analysts at Zion Market Research, the global cattle feed and feed additives market is estimated to reach USD 36.55 billion by 2026, developing at a CAGR of over 7.5% during the forecasted period 2020–2026. The cattle feed and feed additives are being utilized to improve the quality of feed to increase yield and cattle’s health. The cattle feed & additives are mixed with required feed to provide nutrition for cattle’s growth which then aids in increasing the mass and prevent the cattle from various diseases. A number of disease outbreaks in livestock in the last couple of years have increased apprehension for meat safety & quality which has prompted the utilization of feed additives.
Some of the prominent players in the market are Alltech; AFB International; Evonik; Kemin Industries Inc.; DSM; DuPont; Archer Daniels Midland; Nutreco N.V.; and Cargill.
Industrialization Of The Livestock Industry To Boost The Global Cattle Feed And Feed Additives Market
The key driving forces in the cattle feed and feed additives market is the surge in the consumption of meat globally. Other driving aspects that boost the development of the cattle feed and feed additives market is the augmenting demand for low price meat, along with the high nutritional value. The surging awareness concerning the quality of food, industrialization of the livestock industry, and danger of diseases in the livestock are other drivers of the global cattle feed and feed additives market. Animal feed additives are an imperative element for the budding meat production segment. Cattle feed and feed additives are combined with simple feed to provide nutrition and advance the growth of the animal. The feed additives have advantages such as enhanced feed digestion, improved weight, and prevention from different diseases.
The global cattle feed and feed additives market is bifurcated on the basis of product type, animal type, and regional analysis. Based on the product type, the market is divided into antibiotics, vitamins, antioxidants, feed enzymes, amino acid, and feed acidifier. Based on the animal type, the market is divided into young ruminants and mature ruminants.
The Asia Pacific Region To Witness Major Share In The Global Cattle Feed And Feed Additives Market
Based on geographical analysis, the global cattle feed and feed additives market is divided into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. The Asia Pacific region is the major market for cattle feed and feed additives market due to the maximum share of the cattle population across this region. It is followed by Europe and North America. North America and Asia Pacific together account for over 60% of the entire market share of cattle feed and feed additives market. The Asia Pacific is the fastest-growing region mostly fueled by the surging demand from India and China. The augmenting dairy market across this region is likely to enhance the cattle feed and feed additives market in the future.
Browse the full “Cattle Feed And Feed Additives Market - By Product Type (Antibiotics, Vitamins, Antioxidants, Feed Enzymes, Amino Acid, and Feed Acidifier), By Animal Type (Young Ruminants and Mature Ruminants), And By Region - Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2026.” Report at https://www.zionmarketresearch.com/report/cattle-feed-feed-additives-market
The global cattle feed and feed additives market is segmented as follows:
By product type:
By animal type:
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