Medicated Feed Additives Market Growth 2023, Emerging Trends, Global Industry Share, Revenue, Key Manufacturers, Business Opportunities and Future Outlook 2033: SPER Market Research
Medicated feed additives are added nutrients or medications to animal feed that contains a variety of dietary components, including vitamins, minerals, fatty acids, amino acids and other supplements. These additives promote increased feed efficiency, faster growth keeping their health in mind, and reduced disease incidence, leading to a more sustainable and profitable livestock production. Furthermore, the growing demand for high-quality meat rich in nutrients further propels the market for these additives. However, responsible use under veterinary guidance and adherence to safety regulations are crucial for maximizing benefits while minimizing potential risks to both animals and consumers.
According to SPER market research, ‘Medicated Feed Additives Market Size- By Source, By Mixture Type, By Type, By Livestock – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Medicated Feed Additives Market is predicted to reach USD 22.82 billion by 2033 with a CAGR of 5.41%.
The medicated feed additives market is experiencing good growth driven by multiple synergistic factors. Rising consumer awareness regarding food safety coupled with growing concerns about animal health fuels demand for these additives as they promote better animal well-being and minimize the risk of zoonotic diseases. Additionally, the ban on antibiotic use as growth promoters has created new opportunities for alternative options like herbal additives, further expanding the market’s reach. The increasing global demand for meat and poultry products, along with increased awareness of the benefits of high-quality, nutrient-rich meat, contributes significantly to the market’s upward trajectory. These drivers, combined with the ongoing advancements in research and development, create a positive outlook for the future of the medicated feed additives market. However, addressing potential adverse effects remains a crucial challenge for the industry to ensure sustainable growth.
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The medicated feed additives industry faces significant hurdles from regulatory authorities, impeding its growth prospects. Stringent regulations imposed by various government agencies discourage farmers from utilizing these additives, consequently limiting their market potential. Antibiotic misuse in additives has raised concerns about antibiotic resistance, further restricting the market potential for antibiotic-containing medicated feed additives. The increasing demand for alternative feed additives like probiotics, prebiotics, and organic supplements poses a substantial challenge to the growth of traditional medicated feed additives. The high cost of these additives makes them inaccessible for some farmers, particularly small ones, thereby limiting their adoption in certain markets.
Impact of COVID-19 on Global Medicated Feed Additives Market
Globally, COVID-19 caused major disruptions in 2021, impacting various industries including the medicated feed additives market. Delays in customs clearances, export licenses, and phytosanitary certificates due to reduced government manpower, limited the availability of these additives for farmers. Additionally, decreased demand from restaurants and higher transaction costs are expected to further push up manufacturing costs of medicated feed additives in the coming years.
Medicated Feed Additives Market Key Players:
Geographically, The Asia-Pacific region is poised to dominate the global medicated feed additives market, experiencing the fastest growth from 2022 to 2030. Free trade agreements within the APAC region will facilitate smooth product movement and boost market growth. India medicated feed additive market will grow at fastest-growing CGAR during forecasting period. Additionally, some of the market key players are Ajinomoto, Adisseo, BASF, Bentoli, Chr. Hansen, DSM, Evonik others.
Global Medicated Feed Additives Market Segmentation:
By Source: Based on the Source, Global Medicated Feed Additives Market is segmented as; Natural, Synthetic.
By Mixture Type: Based on the Mixture Type, Global Medicated Feed Additives Market is segmented as; Base Mixes, Concentrates, Premix Feeds, Supplements.
By Type: Based on the Type, Global Medicated Feed Additives is segmented as; Amino Acids, Antibiotics, Antioxidants, Enzymes, Probiotics & Prebiotics, Others.
By Livestock: Based on the Livestock, Global Medicated Feed Additives is segmented as; Aquaculture, Poultry, Ruminants, Swine, Others.
By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
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Medicated Feed Additives Market Growth
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