Market Trends of North America Ruminant Feed Premix Industry
This section covers the major market trends shaping the North America Ruminant Feed Premix Market according to our research experts:
Beef and Dairy Consumption Demand Drives the Market
North America has a deep-rooted beef and dairy production industry with 103 million cattle in 2016 increasing to 105 million in 2018. Beef consumption and dairy consumption demand is the prime reason for such a large cattle industry in the region. For instance, the per capita consumption of beef in the United States was 24.14 Kg in 2015 increasing to 26.21 Kg in 2019 and a similar kind of trend is seen in the consumption of dairy products. Therefore, an increase in the consumption of dairy products and beef meat is fueling the cattle production in the region. This, in turn, boosting the sales of ruminant feed premix products.
The United States Dominates the Market
The united states are the leading producer of cattle in the region with 94.2 million heads in 2018. The per capita beef and dairy consumption noticed in the United States was 25.9 Kg and 293 Kg in 2018. The large, growing beef and dairy industry in the country is boosting animal production, which ultimately aiding the North America feed premix market growth. The increased awareness of the importance of premixes for animals is also one of the prime market drivers in the United States.
