Ruminant Feed Market

Ruminant Feed Market Size, Share, Growth Analysis, By Animal Type(Dairy Cattle, Beef Cattle, Other Animals), By Ingredient Type(Cereals, Oil Cakes, Meals, Food Wastages), By Region - Industry Forecast 2024-2031

Report ID: SQSG30C2018 | Region: Global | Published Date: July, 2036
Pages: 225 | Tables: 66 | Figures: 75

Ruminant Feed Market Regional Insights

In 2021, North America accounted for more than 35% of the global ruminant feed market and this is due to the increasing demand for milk and milk derivatives in the region. Increasing demand for beef and other dairy by-products is the major reason for this dominance. Increasing awareness among farmers regarding the high-quality feed and its benefits the milk production and the health of the dairy animal are some of the major reasons for increasing demand for balanced feed in countries like The US and Canada. These are some of the major factors responsible for the growth of the ruminant feed market in the North American region.

Europe and the Asia Pacific regions are the fastest growing consumer of beef and dairy product which is also propelling the demand for balanced and nutritious ruminant feed in the region which will propel the demand for the ruminant feed market globally during the analysis period.

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Ruminant Feed Market size was valued at USD 485.87 billion in 2019 and is poised to grow from USD 501.9 billion in 2023 to USD 672.24 billion by 2031, growing at a CAGR of 3.3% in the forecast period (2024-2031).

The ruminant feed market is relatively fragmented, with a high level of competition. Few large players, like Cargill Inc, De Heus, and ForFarmers, now control the market in terms of market share. These industry leaders are extending their customer base across several areas, and many corporations are creating strategic and collaborative initiatives with other start-up enterprises to enhance their market share and profitability. 'Cargill, Incorporated', 'Archer Daniels Midland Company', 'Land O'Lakes Inc.', 'BASF SE', 'Alltech, Inc.', 'DSM Nutritional Products AG', 'Chr. Hansen A/S', 'Nutreco N.V.', 'ForFarmers N.V.', 'Evonik Industries AG', 'Balchem Corporation', 'Kent Nutrition Group, Inc.', 'Ridley Corporation Limited', 'Biomin Holding GmbH', 'Purina Animal Nutrition LLC', 'Kay Dee Feed Company', 'Hipro Animal Nutrition', 'Hi-Pro Feeds LP', 'New Hope Group Co., Ltd.', 'J. Grennan and Sons'

The rising middle class, with more discretionary means and knowledge of the health benefits of animal source protein, is a major element boosting the demand for animal meat and dairy products. These proteins are essential for enhanced protein synthesis because they are both highly bioavailable and easily digested. The demand for ruminant feed, which is essential in the production of high-quality meat and dairy, is expected to rise as a result of improving economic conditions in developing nations and rising spending on health and wellbeing.

Increasing demand for meat and dairy product is driving the livestock market and to get high-quality milk and meat farmers are using ruminant feed apart from conventional grazing for better and improved production. This enables the increasing use of different feed additives in ruminant feed which has seen a steep raise in recent years. This increasing demand for feed additives such as enzymes and vitamins and minerals drove the ruminant feed additive market during the analysis period.

In 2021, North America accounted for more than 35% of the global ruminant feed market and this is due to the increasing demand for milk and milk derivatives in the region. Increasing demand for beef and other dairy by-products is the major reason for this dominance. Increasing awareness among farmers regarding the high-quality feed and its benefits the milk production and the health of the dairy animal are some of the major reasons for increasing demand for balanced feed in countries like The US and Canada. These are some of the major factors responsible for the growth of the ruminant feed market in the North American region.

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Ruminant Feed Market

Report ID: SQSG30C2018

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