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Medical Feed Additives Market (2024 to 2033) - Industry Analysis, Size, Share, Growth, Trends and Forecast
Medical Feed Additives Global Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Medical Feed Additives industry. This report on Medical Feed Additives market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The medical feed additives market size has grown strongly in recent years. It will grow from $15.9 billion in 2023 to $17.28 billion in 2024 at a compound annual growth rate (CAGR) of 8.6%. The growth in the historic period can be attributed to livestock health and productivity, disease prevention, nutritional supplements, increased meat and dairy production.
The medical feed additives market size is expected to see strong growth in the next few years. It will grow to $23.58 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to sustainable animal agriculture, antibiotic alternatives, precision livestock farming, nutrition and health focus. Major trends in the forecast period include sustainability and animal welfare, precision nutrition, alternative protein sources, education and training.
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Key Market Players:
Zoetis Inc., Cargill Incorporated, CHS Inc., Purina Animal Nutrition LLC, Archer Daniels Midland Company, Adisseo France Sas, Alltech Inc., Hipro Animal Nutrition, BASF SE, Biostadt India Limited, Zagro Co. Ltd.
Market Drivers:
According to the Medical Feed Additives Market Report 2023 by The Business Research Company, Companies in the medical feed additives market are introducing new feed medicated additives formed as a result of a combination of two or more medicated feed additives. More than 70% of manufacturers are now using more than one feed additive in animal feed to increase the efficiency of the product.
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Market segments for Medical Feed Additives include:
1) By Type: Antioxidants, Antibiotics, Probiotics And Prebiotics, Enzymes, Amino Acids
2) By Mixture Type: Supplements, Concentrates, Premix Feeds, Base Mixes
3) By Class type: Type A, Type B, Type C
4) By Livestock: Ruminants, Poultry, Swine, Aquaculture
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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