Market Trends of feed flavors and sweeteners Industry
Increased consumption of beef meat, growing food and beverage sector, and increasing number of farms are driving the global ruminants production
- The global dairy market is being driven by various factors, including population growth, rising health consciousness, growth in the food and beverage industry, increasing demand from emerging markets, and value addition. The profitability of raising a single beef cow in China increased by more than 75% in 2020 from 2019, with an average net profit of USD 441.0 per cow.
- India is the leading producer of cattle globally, with the production of cattle and buffaloes increasing from 301.2 million heads to 307.3 million heads between 2017 and 2022. The rise in demand for dairy products, coupled with the increasing consumer income and awareness about health, is driving the growth of ruminant production.
- The increasing consumption of beef and the rising profitability of raising cattle have increased the number of beef cattle farms. In Canada, the number of farms increased by 10.1% in 2021 from 2016.
- Sheep and goat rearing is also increasing in the region, owing to increasing profits due to the rising demand. The production of sheep and goats increased from 213.5 million heads to 223.5 million heads between 2017 and 2022. The Asia-Pacific region accounted for more than 40.8% of the global goat population, with China, India, Pakistan, Bangladesh, and Mongolia being the major countries. In the case of sheep, China, India, Iran, Mongolia, and Turkey dominate the market.
- The profitability of raising cattle is driving the growth of the feed additives market in terms of beef cattle, and the rising demand for sheep and goats is boosting production and profits in these sectors.
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High demand for ruminants feed in Asia-Pacific and North America with the United States exported 80% of beef production and emergence of new milk providers in India
- The primary consumers of ruminant feed production in terms of regions are Asia-Pacific and North America, owing to the increased demand for high-quality beef meat, increased focus on farm productivity, and profitability through feeding of nutritional feed.
- Feed production for dairy cattle witnessed a growth of 6.7% between 2017 and 2022 due to the rising need for compound feed to increase the yield and improve the fat content in the milk. The increasing milk prices and the emergence of new milk providers, such as Country Delight and Happy Nature (DHA Agritech Pvt. Ltd) in India, have also increased the demand for feed.
- The demand for beef cattle feed increased by 45.1% between 2017 and 2022 as producers increased the feeding of nutritionally balanced compound feed due to the advantages of nutrient-rich feed in yield enhancement and the high demand for beef meat in countries such as China and the United States. In 2021, the United States exported about 80% of beef meat to five countries, including Japan, South Korea, China, Mexico, and Canada.
- The popularity of goat farming has also increased due to the high demand for milk, meat, and skin. Compound feed production for other ruminants, including goats, increased by 2.2% from 2017 to 2022 due to the increase in feed consumption.
- Increased awareness about healthy feed and the demand for milk and beef-based products have contributed to increasing ruminant feed production. Feed millers are expected to increase feed production for ruminants during the forecast period.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- Swine population is increasing due to high pork consumption with Asia-Pacific and Europe being the significant producers of pork
- Asia-Pacific is largest producer of swine feed with high per capita consumption of pork meat and African Swine Fever (ASF) impacted the swine industries in Europe and Africa
