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The Asia Pacific region is expected to hold a significant share in the overall growth of the market over the forecast period. This can be attributed to the flourishing livestock industry in the region. The rise in adoption of domestic animals, such as cows, sheep, and chickens, among others, in countries like India, is invigorating the demand for cattle feed in the region. In addition to this, the growing industrial sector, government subsidies in the agricultural sector, and the rising concerns regarding animal welfare in the region is further propelling the growth of the industry. Moreover, due to the increasing regional populations and the rising purchasing power of the people is further augmenting the demand for animal products such as meat and milk and its byproducts. This is another factor contributing to the growth of the cattle feed industry in the Asia Pacific region.
Saguna Feeds, a leading company in the cattle feed industry, recently launched their cattle feed variants, MilkyBest+ and NutriBest in India, in September 2021. The products are aimed at providing a consistent quality feed to animals, and address the issues revolving around challenges faced by farmers in respect of adulterated raw materials and high prices, among others. With the availability of the products via an online channel through the company’s website, the procurement becomes much easier owing to the commonality of internet services and affordability due to the transparency in prices. Such developments by leading market players are propelling the growth of the market. The market growth is further augmenting due to the expansion of major market players such as Archer Daniel Midland Company (NYSE: ADM) and BASF SE (ETR: BAS), among others.
Market Analysis by Cattle Type, Distribution Channel, and Region:
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The major players in the global cattle feed market are Archer Daniel Midland Company, BASF SE, Beijing Goke Agriculture Machinary Co. Ltd, Cargill, Inc., and Charoen Pokphand Foods PCL, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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