Report: Cattle feed market worth $187,546.4 million by 2018

Markets and Markets releases new report

The report ”Cattle Feed Market (With Overview on Ruminant Feed) by Type (Mature Ruminants, Young Ruminants, & Others), Additives (Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, & Feed Acidifiers) & by Geography – Global Trends & Forecasts to 2018″ by Markets and Markets, defines and segments the global cattle feed and feed additives market with analysis and projection of the global revenue for the market. It also identifies the driving and restraining factors in the global market with an analysis of trends, opportunities, burning issues, winning imperatives, and challenges.

The market is segmented and revenue is projected on the basis of main regions such as North America, Europe, Asia-Pacific, and rest of the world (ROW). The key countries are covered and their market is forecasted for each region. The market is segmented and revenue is forecasted on the basis of types, livestock and geography.

Cattle feed additives are supplements that are added to the cattle feed. They are used for various purposes such as to enhance the palatability, provide sufficient nutrition to the cattle through feed. Thus, cattle feed additives help to increase the milk-yielding capacity and increase the weight of the cattle. The important types of cattle are beef, dairy, calf and others. The types of cattle feed additives are antioxidants, antibiotics, feed enzyme, feed acidifiers, vitamins, amino acids, and others. These cattle feed additives are added with the feed in varying quantities, depending on the type of cattle as well as the surrounding environment, and the cattle’s nutritive needs.

The demand-driving factors of the cattle feed and feed additives market are increasing meat production, and awareness of importance of proper diet for animals. The factor restraining the industry is the increasing cost of raw materials. However, the increasing consumption of cattle feed is creating opportunities for the cattle feed additives. The manufacturers are developing innovative production techniques to increase the production capacity and reduce the cost of production.

The global cattle feed and feed additives market, in terms of value, is projected to be worth $187,546.4 million by 2018, up from $139,560.4 million in 2013, growing at a CAGR of 6.1% from 2013 to 2018. The leading manufacturers are focusing on the expansion of their business across regions and setting up new plants so as to increase the production capacity as well as strengthen their product line. Prominent industry participants are involved in the expansion strategy to merge into untapped markets.