Medicated Feed Additives Market Growth, Trends, Share, Industry Size, Revenue, CAGR Status, Competitive Analysis and Forecast Report till 2033:SPER Market Research
Added nutrients or medicinal supplements are known as medicated feed additives, and they are fed to livestock. Vitamins, fatty acids, minerals, amino acids, prescription drugs, fungus, and steroidal chemicals are some examples of these additions. They could significantly improve the general output, productivity, and health of animals. Increased average daily weight gain and enhanced feed efficiency are two major advantages of medicated feed additives. Furthermore, some additives aid in the reduction of problems such as bloat, acidity, and coccidiosis.
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 Medicated Feed Additives Market is predicted to reach USD 22.82 billion by 2033 with a CAGR of 5.41%.
The global market for medicated feed additives is being driven by a number of factors, including the growing need for animal protein. The increasing population and economic status of the world have led to a rise in the need for animal protein. Because of this, there is a greater need for medicated feed additives, which can improve the health and productivity of animals. Numerous animal diseases, including avian influenza, foot-and-mouth disease, and swine flu, have become more common in recent years. Because they can help prevent some diseases, medicated feed additives are in higher demand. The demand for products that enhance animal health is rising as a result of consumers’ growing concerns over the welfare and health of animals. Because medicated feed additives can improve cow health, the industry in the area has seen an increase in investment.
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Regulatory challenges are the primary roadblocks facing the medicated feed additives industry. The production of animal feed is subject to feedstuffs rules in the majority of countries. The use of some feed additives as animal growth boosters was outlawed in the US and the EU in 2006 and 2009, respectively, indicating a tightening regulatory environment. As our knowledge of the GIT microbial ecology and the mechanism of probiotic action has advanced, more controls are being put in place to protect animal health. The regulation of medicated feed additives, which differ between countries and include probiotics and antibiotics, lacks a universally acknowledged framework. Alternative approaches and additives that support animal health without substantially depending on antibiotics are also required. Creating feed additives that support environmental sustainability and animal health presents another big hurdle.
Impact of COVID-19 on Global Medicated Feed Additives Market
The market was negatively impacted by COVID-19. It has been demonstrated that the worldwide pandemic affects how well some industries function in different places. Export and import licenses, phytosanitary certifications, and customs clearances were all impacted. Farmers had limited access to a variety of medicated feed additives and trade consignments were delayed as a result of fewer employees at government offices. It is anticipated that during the projection period, a decline in fast food restaurant demand and an increase in transaction costs will cascade upward, driving up the cost of manufacturing medicated feed additives on a global scale.
Medicated Feed Additives Market Key Players:
Asia, especially India, is seeing a rise in the demand for meat-based food products as a result of their swift economic development. Because the country is home to many of the world’s leading compound feed manufacturers, there is an increasing demand for medicated feed additives. The UK has the biggest demand since its meat consumption rate is higher than the world average. Another developing region is Brazil. Additionally, some of the market key players are Ajinomoto, Adisseo, BASF, Bentoli, Chr. Hansen, DSM, Evonik, Global Nutrition International, Kemin Industries Inc., NUQO Feed Additives, Novus International, Nutreco, Novozymes and various 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 Analysis
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