The market for cattle mineral feeders is forecasted to experience substantial growth, with revenue expected to reach US$ 402 million by 2033, representing a robust compound annual growth rate (CAGR) of 6.7%. This growth is attributed to various factors including the industrialization of livestock production, increasing emphasis on animal nutrition, and the growing demand for high-quality animal products.
Surge in Demand Driven by Industrialization of Livestock Production and Rising Consumer Awareness of Animal Nutrition
Mineral feed plays a crucial role in maintaining the health and productivity of cattle. It contains essential nutrients vital for reproduction, bone development, and immune system strength. Mineral feeders facilitate the ingestion of mineral feed, ensuring that cattle receive the necessary nutrients for optimal health and productivity. As a result, mineral feeders are expected to witness efficient performance and drive market growth over the forecast period.
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Opportunities in the Meat Industry
The meat industry’s emphasis on farm animal nutrition to meet the rising demand for animal protein sources presents significant opportunities for market players. As consumer awareness of the importance of animal nutrition grows, the demand for mineral feed additives is expected to increase, driving market expansion.
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 a 8% share of the global market for cattle mineral feeders in 2022.
Regional Insights and Market Potential
- Leading the global market, North America is anticipated to maintain its dominance over the forecast period. The region’s growing fast food and food processing industries drive the demand for animal-sourced protein, fostering the adoption of mineral feeders.
- Germany emerges as the largest market in Europe, driven by rising consumer demand for high-protein diets and a well-established dairy industry. Selenium deficiency in livestock herds further fuels market growth.
- China and India present significant market potential due to the rapid industrialization of the cattle industry and the growing demand for milk products. Government policies promoting modernization and efficiency in farming practices contribute to market expansion.
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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
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