The market for cattle mineral feeders is anticipated to grow its revenue share from US$ 210 Mn in 2023 to US$ 402 Mn by 2033. An industry-wide CAGR of 6.7% is predicted for the forecast period.
In the past ten years, there have been substantial developments in the cattle industry. Commercial cattle farming and the related food chains have been able to meet the growth in this demand.
The demand for efficient mineral feeds for cattle has increased due to the developing dairy and meat industries throughout the world. This has led to a rise in the market for cattle mineral feeders. The mineral feed contains essential nutrients and minerals that cattle’s bodies are unable to produce in adequate quantities, helping to support their health.
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The market for cattle mineral feeders has grown quickly due to a variety of causes, including the expansion of dairy farms throughout the world and ongoing technological developments in the administration of animal feeding.
Additionally, it is anticipated that the size of dairy farms will increase universally, systems will become more standardized for better performance, and feeding management will become less expensive and time-consuming.
The rising consumer consumption of dairy and meat products is another major driver anticipated to propel the market for animal feeding equipment. To fulfil the growing demand for high-value animal protein, pressure on the cattle sector is anticipated. Farmers are being encouraged to automate the feeding equipment for animals by the rising numbers of consumers of dairy and meat products throughout the world.
This will increase animal output, improve hygienic conditions, and save labor costs. In addition, mineral feeder producers are giving farmers and small businesses the tools they need to provide all-natural food for their animals as organic goods gain in demand. Over the forecast period, this is anticipated to fuel the expansion of the cattle mineral feeder market.
The market for cattle mineral feeders is projected to be dominated by North America. Sales are growing as people become more aware of the feeder’s many applications in cow husbandry.
KEY TAKEAWAYS
- The market for cattle mineral feeders in the United Kingdom is anticipated to grow at a CAGR of 2% through 2033.
- The US dominated the cattle mineral feeder market in 2022 holding a 5% share of the global market.
- With a CAGR of 9% over the forecast period, India is predicted to grow rapidly in the market for cattle mineral feeders by 2033.
- The cattle mineral feeder market in China is expected to grow at a CAGR of 4% over the forecast period.
- Germany accounted for 9% of the global cattle mineral feeder market in 2022.
- Japan held an 8% share of the global market for cattle mineral feeders in 2022.
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COMPETITIVE LANDSCAPE
The top manufacturers of the cattle mineral feeder market are Sioux Steel Company, Century Products, AmeriAg, JFC Agri, MJE Livestock Equipment, BW Big Blaze, Tractor Supply Co., Tarter Farm and Ranch Equipment, Zeitlow, BROWER and others.
To increase their market share in the global market for cattle mineral feeders, these businesses have employed a range of strategies. To grow its clientele and income, they have employed both organic and inorganic development strategies, including the introduction of new products, purchases, corporate expansions, and partnerships.
RECENT DEVELOPMENT
- In September 2022, the MJE Livestock Equipment network has chosen dealers with the expertise and understanding to assist ranchers in growing their operations. In the middle of cow country in the Midwest sits MJE Livestock Equipment. The dealership network is growing to offer ranchers across the nation the best livestock equipment produced in America.
- In August 2022, the formal announcement of the construction of Tractor Supply Company’s new distribution facility in Maumelle, Arkansas. The $128 million first investment in the 1.2 million square foot building will create the eleventh and largest distribution hub in the Tractor Supply network. A 50,000-square-foot mezzanine floor of the building is allocated to the expanding e-commerce operations of the company.
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Market Segmentation for Cattle Mineral Feeder
By Product Type:
- Mobile
- Static
By Material:
- Stainless Steel
- Mild Steel
- Plastic
- Mix of Plastic & Stainless Steel
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Middle East and Africa
About FMI
Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient 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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