Cattle Feed Market - Is Projected To Reach $35.4 Billion

North America Demonstrates A Strong Growth Potential in Cattle Feed Market Consumption - Is Projected To Reach $35.4 Billion

The global market is expected to grow at a healthy rate due to the increasing demand for meat and concern regarding the health of the cattle.

The North American cattle feed market had been valued at $25.4 billion in 2013, and is projected to reach $35.4 billion by 2018. This market constitutes 18.4% of the global cattle feed market and is expected to grow at a CAGR of 6.9% during the forecast period 2013 to 2018.

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Cattle feed additives are supplements used in cattle feed for improving the quality of feed to enhance their yield and health. Cattle feed additive are gaining importance due to functions such as growth promotion, controlling infectious diseases and enhancement of feed digestibility in cattle. The dairy market is estimated to be the largest market for cattle feed additives, whereas the beef segment is in the second position.

The beef segment has the largest market share in global market, followed by the dairy segment. The driving factors of the global market are on the rise in global meat consumption, concern for proper development of cattle, and focus on continuous development of best breeds of cattle. The restraints of the market are the increasing raw material costs. The leading manufacturers are focusing on expansion across regions and setting up new plants for increasing the production capacity as well as strengthening the product line.

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