MARKET REPORT 68 FEED & ADDITIVE MAGAZINE February 2023 nitrogen run-off are expected to stimulate lower protein diets, and precision diets evaluated by data-driven technology in order to boost the green economy, promote animal health, and increase animal yields which are expected to drive the market growth of cattle feed over the forecast period. Drawing attention to similar factors in its report, DataBridge Market Research also touches on restrictions. According to the report, volatility in the prices of raw material along with stringent regulatory policies which will likely to inhibit the growth of the cattle feed market in the 2022-2029 forecast period. Monitoring mycotoxin contamination will become the foremost challenge in the market growth. MARKET STATUS BASED BY TYPE AND REGION There are typically two types of cattle—beef and dairy. Their feeds are specifically made as beef cattle feed and dairy cattle feed. According to the report of FMI, India, Brazil, and China are the three countries with the highest level of cattle production in the world, with around 300 million cattle piled up in their respective countries together, followed by Africa with 200 million. In spite of the fact that Americans only make up 10% of the world's cattle, this nation is responsible for nearly 25% of the world's beef production. So, cattle feed market growth is more likely to be driven by these factors. Germany is home to approximately 12.9 million cattle, mostly dairy cows. There are 4.2 million dairy cows and 0.7 million suckler cows. According to the European Union's statistics, Germany is the country with the largest herd of dairy cattle and the second largest population of cattle. It is estimated that the German animal feed market will reach $15.429 billion by 2024. With rising consumer health concerns and expanding dietary practices in raw and processed meats, Germany is one of Europe's top markets for animal feed. According to the report of Allied Market Research, global beef feed increased by 1% in 2019. The highest growth was seen in the Oceania region at 13%, or 95,000 metric tons. This was primarily caused by droughts in the region, which reduced forages and forced beef producers to rely on finishing their herds in feedlots. Dairy feed estimations for 2019 recorded very minimal declines globally. The sale in Latin America and Oceania regions decreased by 3% and 12%, respectively. Argentina’s dairy feed is estimated to be down 870,000 metric tons; other countries in Latin America, such as Venezuela and Costa Rica, also recorded declines. The dairy industry faced challenges in Oceania, including in New Zealand, where the government has set new, lowered target emissions. Asia-Pacific is known to be the dominant region in the cattle feed market share. Asian countries have
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