It is estimated that the cattle feeder market is likely to be valued at US$ 2,980 million in 2023, and likely to reach US$ 4,240 million by 2033. During the forecast period, the demand is anticipated to expand at a CAGR of 3.5%.
The increased consumption of meat protein and the increased emphasis on the quality of the components used in animal feed are two factors that are associated with the demand for these innovations. The industrialization of cattle products, such as meat and dairy products, as well as the growing population, both aided the adoption of cattle feeder.
The primary drivers of market expansion for cattle feeder are revenue creation from the beef industry, technical advancements, and government initiatives to improve livestock farming.
Increased demand for meat and other animal-based products, easy accessibility, and growing concern for animal health & welfare all contribute to the sales of cattle feeder.
The rise in demand for feed additives presents cattle feeder manufacturers with an opportunity to provide a variety of equipment and cutting-edge technology.
Due to the rise of feed-based industries in the Asia-Pacific region, the market is anticipated to increase during the anticipated period. Numerous operators in the North American cattle feeder industry must manage changing input and output expenses.
New market entrants in the cattle feeder industry still have incredible prospects, even if the majority of prices, such as feed and loan rates, are determined by the major competitors.
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Key Takeaways
- In 2022, the US rules the cattle feeder market, with a share of 26.8%.
- The market for cattle feeder increased at a 3.1% CAGR between 2016 and 2022, citing FMI’s study.
- The expansion in China is anticipated to expand at an adequate CAGR of 2.8% by 2033. China’s market is likely to generate a share of US$ 340.9 million by 2033.
- Japan’s market share for cattle feeder is 3.9% in 2022 due to changing dietary habits.
- Between 2023 and 2033, the cattle feeder market is likely to increase in India at 4.1% CAGR, respectively.
- The expansion in the UK is anticipated to expand at an adequate CAGR of 3.8% by 2033. The UK’s market is expected to generate a share of US$ 369.5 million by 2033.
- Germany’s market share for cattle feeder is 18.4%, with the worth of US$ 531.2 million in 2022.
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Key Manufacturers of Cattle Feeder
Innovations in feeder systems and new product development are significant market drivers. Cattle feeder companies are investing in R&D to develop cutting-edge solutions that boost output while cutting expenses.
Automation and system integration are still essential elements in reducing costs and increasing cattle feeder output. Due to the problem with the market, the development of feeders might be hampered by less priced alternatives.
Recent Developments:
- The Aller Aqua Group unveiled POWERRAS in May 2019, which satisfies the demands for perfect water quality and great feed efficiency.
- In May 2019, FURRY TAIL, a participant in the MiOT Ecosystem, unveiled the Smart Pet Feeder. The automatic animal feeder system is connected to an application (app), which permits automatic feeding of the animals.
Key segments
By Type:
- Manual
- Autonomous
By Animal Type:
- Mature Ruminants
- Young Ruminants
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia Pacific
- Middle East & Africa (MEA)
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About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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