New York, March 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cattle Feed & Feed Additives Global Market Report 2023" - https://www.reportlinker.com/p06438626/?utm_source=GNW
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The global cattle feed and feed additives market grew from $57.12 billion in 2022 to $59.74 billion in 2023 at a compound annual growth rate (CAGR) of 4.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The cattle feed and feed additives market is expected to grow to $68.51 billion in 2027 at a CAGR of 3.5%.
The cattle feed and feed additive market consists of sales of antibiotics, acidifiers, vitamins, and enzymes.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Cattle feed additives refer to the products that are used to increase cattle nutrition and are added to cattle feed to provide complete nutrition to farm cattle.These are ground, pelleted, crumbled, or mixed feed used for feeding cattle.
These feeds are balanced for various nutrients as per cattle needs. Feed additives are compounds fed to cattle for reasons other than supplying nutrients, such as promoting good cattle health and improving their growth.
Asia-Pacific was the largest region in the cattle feed and feed additives market in 2022. The regions covered in the cattle feed & feed additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of ingredients in cattle feed and feed additives are corn, soybean meal, wheat, oil seeds, grains, and others.Corn is used as livestock feed, biofuel, and raw material in the farm industry.
Corn is a tall American cereal grass plant widely grown for its large ears of starchy grain, which come in wide varieties. The different products include antibiotics, vitamins, antioxidants, amino acids, feed enzymes, and acidifiers and involve various applications such as b??f ??ttl?, dairy ??ttl?, ??lv?, and others.
The growing livestock and animal husbandry industry is expected to propel the growth of the cattle feed and feed additives market going forward.Livestock refers to cattle, sheep, horses, goats, and other domestic animals ordinarily rose on a farm.
Cattle feed and feed additives are used on farms for raising livestock and animals, which helps to add nutrients to their food and aids their faster growth.For instance, according to data by Eurostat, a Luxemburg-based Directorate-General of the European Commission, in the 2021 political and economic union of 27 European nations, the livestock population of Europe is valued at 297 million, which is 146 million pigs, 76 million bovine animals, and 75 million sheep and goats.
Therefore, the growing livestock and animal husbandry are driving the growth of the cattle feed and feed additives market.
Technological advancements are a key trend gaining popularity in the cattle feed and feed additive market.Major companies operating in the cattle feed and feed additives sectors are focused on introducing new technologies to reinforce their position.
For instance, in June 2021, Charoen Pokphand Foods PCL, a Thailand-based agro-industrial company, developed a unique feed formula that contains microorganisms and improves the digestive systems of farm animals through animal food that fits different ages and types of animals.This probiotic technology keeps animals healthy and strong without the use of growth hormones or antibiotics.
The product also protects animals from diseases and improves immunity.
In October 2020, Royal DSM NV, a Netherlands-based company that operates in the areas of nutrition, health, and sustainable living, acquired Erber Group for a deal amount of $ 982 million.This acquisition strengthens DSM’s expertise and market position in animal health and nutrition solutions.
Erber Group is an Austria-based company that offers specialty animal nutrition products, such as feed additives and health solutions.
The countries covered in the cattle feed & feed additives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The cattle feed and feed additives market research report is one of a series of new reports that provides cattle feed and feed additives market statistics, including global market size, regional shares, competitors with a cattle feed and feed additives market share, detailed cattle feed and feed additives market segments, market trends and opportunities, and any further data you may need to thrive in the cattle feed and feed additives industry. This cattle feed and feed additives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future state of the industry.
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