The increasing consumption of food products derived from animals such as dairy and meat is propelling the need for more livestock. This acts as a primary driver boosting the global feed mixer market growth. Additionally, the increasing awareness about zoonotic diseases has propelled the need for maintaining animal health and nutrition, thereby aiding to the expansion of the market.
On the negative side, with the growing population, the land used for farming, cattle feeding, and irrigation purposes is getting smaller by the day. Therefore, the decline in the availability of arable land for cattle feeding activities, coupled with the high cost of installing and maintaining equipment for feed mixer is likely to hamper growth in the forecast period.
Nevertheless, the increasing demand for high-quality feed and the adoption of modern techniques of food production and processing such as unloading technology, use of total mixed ration (TMR), and others are expected to create lucrative growth opportunities in the future.
The global feed mixer market size stood at USD 661.1 million in 2019 and is expected to reach USD 856.9 million by 2027, exhibiting a CAGR of 3.4% during the forecast period.
Geographically, North America earned revenue of USD 241.7 million in the year 2019 and bagged the largest market share. This is owing to a rise in the awareness about health and quality of life of livestock. Moreover, the rapid adoption of total mixed ration (TMR) and the other processor equipment for better results will help this region continue dominating the market in the coming years.
On the other side, the market for feed mixer in Asia Pacific is expected to rise significantly on account of the presence of large livestock and increasing awareness about animal welfare.
Some of the Key Players of this Market include:
• Trioliet B.V.
• SILOKING Mayer Maschinenbau GmbH
• Supreme International Limited
• Seko Industries Srl
• DeLaval (Tetra Laval International S.A.)
• NDEco (Hi-Tec Group company)
• Groupe Anderson
• Schuler Manufacturing (Sandhills Global, Inc.)
• KUHN NORTH AMERICA, INC.
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