Market Size of Cattle Feed Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 87.46 Billion |
| Market Size (2029) | USD 103.87 Billion |
| CAGR (2024 - 2029) | 3.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Cattle Feed Market Analysis
The Cattle Feed Market size is estimated at USD 87.46 billion in 2024, and is expected to reach USD 103.87 billion by 2029, growing at a CAGR of 3.5% during the forecast period (2024-2029).
- Globally, the beef cattle segment has witnessed growth during the forecast period due to factors such as a rise in the demand for high-quality beef meat and high consumption of beef meat in western countries such as the United States, the United Kingdom, and Asia. China is the biggest consumer and producer of beef meat and growth in the beef cattle population.
- In 2021, The United Nations Food & Agriculture Organization (FAO) projected a 1.7% year-on-year increase in the demand for cattle products by 2050, with the demand for dairy products projected to increase by 55% and beef by 70%. The increasing demand for milk and dairy products in developing countries will boost the global market during the forecast period.
- Europe and North America currently have a significant consumption share of dairy products and meat, while rapid growth has been projected in the Asian-Pacific and Latin American regions. Increased demand for dairy products and beef has led to increased industrialization of cattle rearing. This translates to an increase in herd sizes, increased use of compound feed, and better scientific management of cattle. This phenomenon has helped in the growth of the cattle feed market.
