- Manufacturers are increasing efforts to spread awareness about nutritional benefits of using oilseed cakes as animal feed and invite more number of farmers to livestock farming
- Growing focus of players on process automation and expansion of production capabilities is prognosticated to play a key role in the expansion of the livestock cake market
ALBANY, N.Y., Jan. 6, 2022 /PRNewswire/ -- The global livestock cake market is estimated to expand at a CAGR of 6.2% during the forecast period, from 2021 to 2031, according to analysts at Transparency Market Research (TMR). The market growth can be attributed to several factors including rising demand for meat across the globe and increasing use of livestock cakes as animal feed.
Owing to rising population of several developing nations, the sales of dairy products is expected to increase in the near future. Moreover, the growing demand for varied convenient food products is estimated to increase in the upcoming years. These factors are boosting the sales opportunities in the livestock cake market.
Edible oil cakes are in high demand due to their use in several biotechnological applications and in the production of antioxidants and vitamins. These factors are likely to fuel the growth of the livestock cake market.
Oil seed cakes are being utilized by farmers as fertilizers in organic farming. Furthermore, they are also gaining traction as an efficient catalyst in biogas digesters. In addition, they are also known for accelerating biogas production in the cold season. Thus, the livestock cake market is projected to exceed the valuation of US$ 1.38 Bn by 2031, notes a study by TMR.
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Livestock Cake Market: Key Findings
- With increasing inclination toward consuming high-protein food products, the demand for meat, dairy products, and eggs is consistently rising, as they are rich sources of protein as well as nutrients. Growing interest of livestock farmers on providing superior quality products is resulting in revenue-generation opportunities in the livestock cake market.
- Due to rising demand for livestock cakes by farmers, companies in the livestock cake market are increasing their focus on advancing production capabilities. This driving the companies to invest more in advanced technologies.
- Latest processing procedures and development of the analytical detection technology are helping manufacturers to produce high quality and safe feed for animals
- Many players are increasingly investing in IT and automation in order to track the complete production process. They are also employing automated equipment in order to monitor feed processing activities. Such developments are estimated to fuel the expansion of the livestock cake market in the upcoming years.
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Livestock Cake Market: Growth Boosters
- Improving disposable incomes as well as lifestyles of consumers are boosting the demand for products such as meat and eggs, which, in turn, is positively impacting the global market
- Expansion of the dairy industry and rise in demand for dairy products from across the globe are fueling the demand for good quality animal feed such as livestock cakes
- Livestock farmers are increasing focus on maintaining the health of their livestock. Thus, they are feeding high-quality foods such as rapeseed cakes, soybean cakes, and other oil seed cakes.
Livestock Cake Market: Competition Landscape
- Companies are focused on the development of next-gen technologies
- Several players are acquiring competitors to boost their production capabilities and maintain a significant market position. These strategies are also helping players in regional expansion.
Livestock Cake Market: Key Players
Some of the key players profiled in the report are:
- Ruchi Soya Industries Ltd.
- Archer Daniels Midland Company
- Tirumalla Oil Cake
- Louis Dreyfus Company
- Bunge Limited
- DHN International
- Dhofar Cattle Feed Co.
- Indian Hydrocolloids
- Al Ghurair Investment LLC
- ALSAYER Holding
Livestock Cake Market Segmentation
- North America
- Latin America
- East Asia
- South Asia
- Middle East & Africa
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