Feed Market Perspectives
Enhanced interest in animal welfare and health lead the producers to seek new solutions e.g. in the feed. Following the increased global demand for milk and dairy products, the cattle feed sector is forecasted to grow by 4.30% within the years 2020 to 2027. Globally, the market for feed additives was valued at around $26.6 billion. The US feed additives market alone is expected to expand at a rate of 5.6% CAGR during the period from 2020 to 2025.
The experts point out some trends expected to be seen in the market. Presently, over 70% of the producers incorporate at least one additive. The interest in feed additives will continue to grow and manufacturers are likely to be seeking performance-boosting mixtures. Secondly, producers will closely examine the components of feed purchased from their partners as the offer on the market expands. Additionally, close monitoring and analysis of the data will be crucial for identifying the challenges of livestock performance.
Moreover, feed additives can have further advantages than simply the health and performance of the livestock. They can also contribute to embracing sustainability and lowering CO2 emissions. Canadian company DSM announced favorable results stemming from their trial conducted over the last two years on beef cattle. They reported an 80% reduction in methane emissions when using a feed additive dubbed Bovaear in the cattle feed, without any disruptions to the health or performance of the animals.