Market Trends of North America Ruminant Feed Industry
This section covers the major market trends shaping the North America Ruminant Feed Market according to our research experts:
Shift in Consumer Preference Towards Animal Sourced Protein
According to the Organisation for EconomicCo-operation and Development(OECD), in 2018, beef and veal, is the second-highest consumed meat in the United States. the per capita consumption of beef and veal meat in the country was 26.1 Kg that increased to 26.7 in 2019. According to the Food and Agriculture Organisation (FAO), in 2016, cattle and buffaloes population in the region was 103.49 million that increased to 105.86 million in 2018. The growing livestock production and rising consumption of animal protein are driving the ruminant feed market. Furthermore, according to the OECD, in 2016 the production of fresh dairy products in the region was 27,263.94 tons which increased to 28,042.54 tons in 2019. Thus the rising meat consumption coupled with increasing production to meet the demand will create demand for feed to increase productivity.
The United States Dominates the Market
The United States is to lead this growth in the region. As stated by American Feed Industry Association in 2016, corn is the most abundantly produced crop in the United States, accounts to slightly more than half of the total amount of animal feed consumed, but when combined with soybean meal and dried distiller's grains with solubles (DDGs), represented more than 75 percent of all feed tonnage provided. There are 5,715 animal feed mills producing feed at a commercial-scale and excepting the farm level manufacturers. According to the Food and Agriculture Organisation (FAO), in 2016, cattle and buffaloes population in the United States was 91.88 million that increased to 94.2 million in 2018. The growing population in the country drives the ruminant market feed. According to the Alltech survey, in 2019, the United States produced feed amounting to 214 million metric tons from 5,715 mills surveyed, of which beef feed is the highest produced with a quantity of 61.09 million metric tons occupying a share of 28.5% of the total production.
