Liquid feed market revenue from molasses ingredients to cover nearly a quarter of the global share by 2024
Liquid feed market, as per research analysts, is likely to provide lucrative opportunities to major companies, owing to the increasing requirement of external nutrients for enhancing animal growth. Liquid feed products encompassing minerals, proteins, and vitamins are extensively used to increase the feed palatability of livestock and boost their metabolism. The cost effectiveness of the product is also a major factor that is likely to favor the growth of liquid feed industry share. Surging demand for high quality bi-products of meat, due to shifting focus of customers toward the consumption of protein-rich diet, will boost the product demand suitably.
U.S. Liquid Feed Market Size, By Ingredients, 2016 (USD Million)
CAFO, a leading government supported organization, has been focusing on the development of landless meat production facilities, a fact that is likely to lead to a surge in industrial meat production. Even in the U.S., most of the cattle producing firms have been using liquid and compound feed to enhance animal growth and meat quality. This is evident from the estimates – as per research, the U.S. cattle production industry size was worth USD 80 billion in 2016. The country also heavily fuels the demand for molasses, in fact, the U.S. liquid feed market from molasses is slated to cross USD 5.9 billion by 2024. Surging use of this product for dairy cattle and livestock pertaining to its economic benefits will fuel liquid feed industry size.
The overall liquid feed market from molasses will surpass a revenue collection of USD 25 billion by 2024. This ingredient, being one of the cheapest energy supplements, has garnered a widespread consumer base. Molasses, which consist of urea, rumen, salt protein meals, and phosphorous, is easily available in ample quantities, which will be one of the main driving forces for the growth of this segment. A Liquid Feed Market report by Global Market Insights, Inc., states that this industry will surpass a revenue collection of USD 90 billion by the end of 2024.
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Of late, poultry farming has been gaining prominence, due to the supportive government initiatives such as financial subsidies and other benefits. Since liquid feed enhances the hatching ability and lifespan of poultry, this product is being extensively used in poultry farms. Liquid feed market from poultry will generate a revenue of more than USD 15 billion by 2024, owing to the surging demand of the product for improving animal weight and optimizing egg production. Moreover, escalating per capita income of the individuals mainly across India, China, and Brazil will also fuel the product demand noticeably.
Asia Pacific liquid feed market, subject to escalating economic development, will generate significant revenue by 2024 with a CAGR estimation of 5% over the coming seven years. China, India, and Japan will contribute significantly toward the regional growth.
European consumers have been depicting preferences toward beef consumption lately, on account of which meat suppliers have been adopting intensive farming systems. On these grounds, Europe liquid feed industry will record an annual growth rate of more than 3.5% over the years ahead. Growing consumption of dairy and meat products will also propel the industry growth.
Liquid feed market from ruminants will collect notable revenue with a CAGR of above 4% over 2017-2024, owing to the increasing use of the product due to its cost effectiveness and capability to improve the health of the animal.
The notable participants in liquid feed market are BASF SE, Archer Daniels Midland, Grain Corp, Westway Feed products, Cargill, Ridley Corporation, Land O’ Lakes, Dallas Keith Ltd., and Quality Feeds Limited.
Author Name : Sunil Hebbalkar