Feed additives are supplements for farm animals, which fulfill the nutritional needs which aren’t met by regular meals. These include vitamins, minerals, amino acids, and fat.
They are an important part on the animal nutritional requirement. They enhance feed quality, and therefore, improve animal health insurance and productivity. Rising living standards and disposable income are increasing meat and dairy product consumption. Combined with that, the growing preference among livestock producers toward quality and nutrition is fueling the steady interest on feed additives.
Segmentation by type
The most essential types are vitamins, minerals, amino acids, antioxidants, essential fatty acids, medications, and flavors & sweeteners. Vitamins and minerals improve weaning and conception rates, immunity, and general health. Medications help livestock farmers to reduce the chances of animals becoming diseased.
Segmentation by region
The publication rack divided into various regions, i.e., America, Europe, Asia-Pacific, and Middle East & Africa. Asia-Pacific is recognized as the fastest-growing market, with China supposed to be the global leader. EU has submitted stringent regulation and approval process, which could increase the manufacturing cost and hamper demand.
Increasing interest in improved quality of farm products amid rising living standards in countries, for example New Zealand, Portugal, and Iceland, is driving the rise of the global feed additive market. Increased awareness in regards to the nutritional content of meat along with dairy products among consumers has prompted livestock farmers to deliver better nutrition on the farm animals. These factors have generated a steady growth on the market.
However, conventional feeding methods, for instance crop residue and grazing, still pose a threat for the feed additive market, because of very low or zero costs associated. Further restraints add a ban on various medications in many countries and stringent regulations, together with volatility, in prices of unprocessed trash. Case in point could be the EU Regulation 1831/2003, which states that most feed additives on the market industry within the European Union should undergo reveal approval process. Other financial markets are also likely to follow suit, according to your market intelligence firm.
Here is often a list of some with the major market players:
- Adisseo France SAS
- BASF SE
- Danisco Animal Nutrition
- Alltech Inc.
- Cargill Inc.
- Chr. Hansen
- Archer Daniels Midland Company
Various key developments are witnessed inside feed additive industry.
- Biomin, the Austria-based animal feed additive manufacturer, opened a brand new production plant in Jiangsu, China.
- Olmix opened its first factory in Asia, through an annual production capacity of 15,000 metric a lot of extra feed additive in Vietnam.
- Nutriad engaged in partnerships with Brazilian universities, together with the aim to evaluate its product portfolio for tropical circumstances.
As per research by Mordor Intelligence, a niche intelligence firm the marketplace is projected to attain USD 37 billion by 2022, from USD 28.6 billion in 2016, registering a CAGR of 5.3%, in the forecast period.