The cattle supplies market is expected to be worth US$ 8,340 Million in 2023, rising to US$ 12,464 Million by 2033. Demand is expected to rise at a 4.1% CAGR over the forecast period.
Because of advances in technology and automation, cattle supply producers can now manage herds more effectively, and suppliers can effectively sell items to the market. The automation of the cattle supplies sector is being promoted in order to boost productivity and improve product quality.
Online marketplaces for livestock products have proliferated in recent years, expanding the range of items available to clients. As a result, consumers now have more convenience, while small-scale producers of cattle supplies now have more chances.
Higher sales of cattle supplies result from greater customer concern for animal welfare, and usage of digital technologies to manage supply chains. The adoption patterns of cattle supplies have a new structure due to the increased competition among large-scale firms to provide alternative meat products.
Disasters brought on by the climate, such as drought and flooding, may have an impact on the demand for and price of cattle supplies. The USDA monitors a variety of market data to forecast the supply and demand for cattle, including cattle stocks, prices, and production costs.
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Key Takeaways
- In 2022, the US dominated the cattle supplies market, with a share of 29.3%.
- The market for cattle supplies increased at a 3.7% CAGR between 2016 and 2022, citing FMI’s study.
- The expansion in China is anticipated to expand at an adequate CAGR of 3.3% by 2033. China’s market is likely to generate a share of US$ 817.42 million by 2033.
- Japan’s market share for cattle supplies is 4.4% in 2022, with the value of US$ 351 million.
- Australia’s market share for cattle supplies is 3.1% in 2022, with the value of US$ 246.3 million.
- The expansion in the UK is anticipated to expand at an adequate CAGR of 4.4% by 2033. The UK’s market is expected to generate a share of US$ 1,169.2 million by 2033.
- Germany’s market share for cattle supplies is 15.9% in 2022, with the value of US$ 1,272.4 million.
- The adoption trends of cattle supplies are predicted to rise due to surging nutritional supplements demand. As a result, the market is anticipated to increase positively by 1.04x between 2022 and 2023.
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Key Players Recent Analysis
Due to fierce market competition, the leading rivals of the cattle supplies frequently modify their business models. Businesses are focusing on creating cutting-edge products and growing their distribution networks in an effort to gain market share.
- In order to help cattle ranchers provide balanced nutrition to their cattle in all seasons, Purina Animal Nutrition LLC, a Nestlé S.A. subsidiary, launched Purina® All SeasonsTM Cattle Feed in March 2020.
- In November 2020, Big V Feeds, Inc. unveiled its new Big V Feeds Livestock line of livestock feed for growing and finishing cattle. The feed is designed to work with various breeds, ages, and stages of cattle development.
- In April 2021, Land O’Lakes, Inc. acquired the assets of Purina Mills LLC, a producer of animal feed. This acquisition has strengthened the company’s position in the cattle supply sector.
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Key Segments
By Supply Type:
- Equipment
- Cattle Feed
By Farm Type:
- Large Farms
- Small Farms
By Sales Channel:
- Direct Sales
- Agro Sales
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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