Global Cattle Feed Market is expected to Reach $78.3 Billion by 2027, Says Allied Market Research
Livestock industrialization and replacement of traditional cattle feed with nutritionally balanced compound feed fuel the growth of the global cattle feed market. Based on distribution channel, the offline segment has dominated the market in 2019. Moreover, the market across Asia-Pacific held the major market share in terms of revenue in 2019, and is expected to lead the trail throughout the forecast period.
Portland, OR, Feb. 16, 2021 (GLOBE NEWSWIRE) — According to the report published by Allied Market Research, the global cattle feed industry was pegged at $73.5 billion in 2019, and is expected to garner $78.3 billion by 2027, with a CAGR of 4.4% from 2021 to 2027. The report provides a detailed analysis of changing market dynamics, major investment pockets, key winning strategies, value chain, key segments, and competitive scenario.
Livestock industrialization and replacement of traditional cattle feed with nutritionally balanced compound feed fuel the growth of the global cattle feed market. Conversely, challenges associated with the gap between demand and supply of cattle feed hamper the market growth. Nevertheless, nutrigenomics applications and prospects in livestock is anticipated to usher a plethora of opportunities for the key players in the industry.
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Covid-19 scenario-
- The demand for cattle feed has been constant during the initial phases of covid-19. However, the outbreak has immensely affected the supply chain.
- Furthermore, there has been a decline in demand for consumption of fish and meat has all over the globe. This factor has further impacted the demand for Grain and Oilseed (G&O) as well.
- Nevertheless, various regions and industries are now uplifting in terms of revenue generation, owing to the relaxations issued by the government bodies. This is expected to aid the market to recoup soon.
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The global market is segmented on the basis of cattle type, distribution channel, and region. Based on cattle type, the market is bifurcated into beef and dairy. The dairy segment dominated the market with nearly three-fifths of the global cattle feed market share in 2019, and is anticipated to maintain its lead by the end of 2027. The same segment is also expected to showcase the fastest CAGR of 4.6% throughout the forecast period.
Based on distribution channel, the market is divided into offline and online segments. The offline segment held the lion’s share with around two-fifths of the global cattle feed market revenue in 2019, and is projected to rule the roost by 2027. However, the online segment is projected to manifest the fastest CAGR of 6.4% from 2020 to 2027.
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Based on region, the market is studied across various regions including North America, Asia-Pacific, LAMEA, and Europe. The Asia-Pacific region held the highest market share in 2019, with more than two-fifths of the global cattle feed market. At the same time, the LAMEA region is expected to manifest the fastest CAGR of 5.3% from 2020 to 2027.
Frontrunners profiled in the industry report include Archer Daniel Midland Company, BASF SE, Beijing Goke Agriculture Machinery Co., Ltd., Cargill, Inc., Charoen Pokphand Foods, J. R. Simplot Company, Kemin Industries, Land O’ Lakes Inc., Nutreco NV, and Provita Eurotech Ltd.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
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