What is the global market size of Ruminant Feed Market?

Ruminant Feed Market size was valued at USD 485.87 billion in 2021 and is poised to grow from USD 501.9 billion in 2022 to USD 672.24 billion by 2030, growing at a CAGR of 3.3% in the forecast period (2023-2030).

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 Insights

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).

Animal husbandry relies heavily on cattle feed, which accounts for a major portion of overall costs. To lower the price of this food, many farmers may use cheaper feeds as well as by-products from other food production processes, such as leftover grain from beer production and other sources. The success of the livestock sector hinges in large part on the condition of the animals in it. High-quality, nutritionally complete feed is crucial to the health of animals. Feed acidifiers, feed enzymes, feed antibiotics, and feed microbes are all areas where the cattle feed sector is seeing growth. Increased interest in the quality of the components used in animal feed drives the demand for ruminant feed and propels market growth.

US Ruminant Feed Market is poised to grow at a sustainable CAGR for the next forecast year.

Ruminant Feed Market Report Snapshots

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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 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

Ruminant Feed Market Insights

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