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Feed Preservatives Market Analysis Report 2022-2029 | Feed Preservatives Industry Demand, Global Revenue, Size, Share and Forecast by 2022-2029
The world is undergoing unprecedented challenges and upheavals because of the COVID-19 pandemic. Businesses are trying to cope with sudden revenue shortfalls, while industry leaders are strategizing to tackle with the incipient global recession. Amidst these anxious and uncertain times, we, at Fortune Business Insights™, are taking constant efforts to provide businesses with comprehensive market intelligence, collected and analyzed by our expert research team. Our aim is to not just empower companies to successfully navigate the crisis, but also enable to tap opportunities created by it.
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What Does The Report Offer?
Holistic evaluation of all market segments;
In-depth analysis of the market drivers, trends, restraints, and opportunities;
Tangible insights into the regional dynamics shaping the market; and
Granular examination of the key market players' profiles and strategies.
Driving Factor
Promotion of Modern Livestock Farming Practices by International Bodies to Aid Growth
International organizations such as the World Bank and the FAO are taking concerted efforts to promote modern livestock management practices in underdeveloped economies. For example, the World Bank's 2020 Sustainable Livestock Development Program in Kazakhstan aims at developing the country's beef sector in an environmentally sustainable manner, which entail providing livestock with good quality feed to increase their productivity and lower greenhouse gas emissions. Similarly, the World Bank approved a USD 30 million loan in December 2019 to finance Mongolia's Livestock Commercialization Project that aims at improving the health and productivity of livestock in the country. Improved livestock performance will also allow the country to boost its meat exports and other animal-based products. The key to these and other similar projects is ensuring the supply of high-quality feeds to livestock. This is likely to bode well for the feed preservatives market growth as these ingredients will be critical in enhancing the potential of livestock and enabling farmers to diversify their revenue streams.
Regional Insights
Abundant Availability of Raw Materials to Fuel the North America Market
Among regions, North America is expected to lead the feed preservatives market share in the upcoming years owing to the easy availability of raw materials required for producing animal feed in the region. The US, for example, is one of the top maize producers in the world, exporting nearly 13% of its annual yield. The prominent position of North America is further bolstered by the presence of food industry giants in the region such as DuPont and Cargill.
The market in Asia Pacific is anticipated to present lucrative opportunities for food companies on account of the steadily progressing cattle and poultry industries, especially in India. Increasing demand for fresh and disease-free meat products will further stoke the adoption of feed preservatives in the region.
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Competitive Landscape
Investments in Digital Livestock Solutions by Key Players to Foster Healthy Competition
With a view to augment livestock management, key players in this market are targeting their investments towards acquiring, developing, and strengthening digital livestock solutions. The primary motive behind this strategy is to efficiently monitor animal health, identify core issue areas, and take informed management decisions to boost livestock productivity.
Industry Developments:
June 2020: Merck Animal Health completed its acquisition of Quantified Ag, a data and analytics company specializing in developing solutions to detect illness in cattle. The acquisition will allow Merck to strengthen its animal health portfolio and provide data-based outcomes to improve animal well-being.
July 2020: BASF announced the takeover of Cloudfarms, a leading livestock farm management and precision farming company. Focusing on pig production, Cloudfarms' solutions are designed to enable producers to improve the efficiency of complex farm activities.
List of Key Players Covered in the Feed Preservatives Market Report:
Nutriad International NV
Impextraco NV
Novus International, Inc.
Kemin Industries, Inc.
Biomin Holding GmbH
Eastman Chemical Company
Nutreco NV
Pestell Minerals & Ingredients Inc.
Perstorp Holding AB
Cargill Incorporated
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