July 13, 2020 (GLOBE NEWSWIRE) The global feed mixer market size is expected to showcase notable growth in the coming years on account of the rising number of animal livestock and dairy farming. This increases the need for nutritious feed for the animals, therefore augmenting this market. A report by Fortune Business Insights, titled, “Feed Mixer Market Size, Share & Covid-19 Impact Analysis, By Product Type (Vertical and Horizontal), By Portability (Self-Propelled, Pull and stationary), By Capacity (<10 M3, 10 M3-20 M3 and >20 M3), By Application (Farms and Feed Factory) and Regional Forecasts, 2020-2027,” states that the market value was USD 661.1 million in 2019 and is likely to exhibit a CAGR of 3.4% to reach USD 856.9 million by the end of 2027.
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The Report Answers the Following Queries:
- What is the nature of the market?
- Who are the significant players of the market, and what are their growth strategies?
- How will unloading technology spur growth in the market?
- What are the current trends prevalent in this market?
Drivers & Restraints-
Increasing Need for High-Quality Food for Animals to Augment Growth
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.
Self-propelled Segment Emerged Dominant Attributed to Faster Mixing Time
Based on segmentation by portability, the self-propelled segment gained the largest feed mixer market share on account of the better nutritional and economic benefits it offers as compared to its counterparts. Additionally, it is time-efficient and mixes feed faster than the pull or stationary equipment. However, the stationary segment earned 31.3% share in 2019 and is likely to gain significant growth in the forecast period.