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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Cattle Feed Market Size
The global cattle feed market attained a value of about USD 71.52 billion in 2023. The market is further expected to grow at a CAGR of 3.8% during the forecast period of 2024-2032 to reach nearly USD 99.81 billion by 2032.
Cattle Feed Market Outlook
- Australian lot feeders reported a surge in cattle numbers and export growth in Q4 2023, with a record high of 1,294,531 head on feed.
- Globally, the total compound feed production is estimated to be over 1 billion tonnes annually, where cattle feed accounts for around 20% or about 251.9 million tonnes.
- Texas is the leading U.S. state based on the number of cattle and calves, with approximately 13 million head as of 2021.
Cattle Feed Market Report Snapshots
Cattle Feed Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the cattle feed market reached an approximate value of USD 71.52 billion.
The market is expected to grow at a CAGR of 3.8% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to USD 99.81 billion by 2032.
The major drivers of the market include the rising demand for animal produce such as dairy and meat products, expansion of dairy industries, and increasing adoption of scientific methods for cattle management.
Key trends aiding market expansion include the increasing prevalence of animal diseases, rising concerns regarding animal welfare, and the growing demand for nutritious cattle feed.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Dairy and beef are the different cattle types considered in the market report.
The major distribution channels of cattle feed are offline and online.
Key players in the market are Archer Daniel Midland Company, BASF SE, Beijing Goke Agriculture Machinary Co. Ltd, Cargill, Inc., and Charoen Pokphand Foods PCL, among others.
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