Medicated Feed Additives Market Revenue, Opportunity, Segment and Key Trends 2017-2027
Medicated Feed Additives Market: Drivers & Restraints
Animals require appropriate method of providing the desired medicines for their better growth so that they can provide human with the best quality of food, milk and other secondary products. The facility and provision of providing medicines in feed is an effective and compliant method. This in turn is expected to underpin the growth for medicated feed additive market in the near future. Also, fear of food-borne and zoonotic diseases such as various types of avian flus is expected to fuel demand for medicated feed additives over the forecast period. For example, the European Food Safety Authority (EFSA) estimates that 320,000 cases of food-borne and zoonotic diseases occur each year in EU countries. However, reduction in usage of antibiotics globally, primarily due to government bans, contributes largely towards declining revenue growth of the medicated feed additives.
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Also, increase in competition due to lower entry barriers creates product safety concerns due to large amount of local supply of additives without adequate product testing are some of the other reasons that can affect the medicated feed additive market negatively over the forecast period.
Medicated feed additives Market: Segmentation
Medicated feed additives Market is classified on the basis of product type, animal type and end-user.
Based on product type, the Medicated feed additives market is segmented into the following:
Based on animal type, the medicated feed additives Market is segmented into the following:
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Based on geography, the Medicated feed additives Market is segmented into following:
North America (U.S., Canada)
Latin America (Mexico, Brazil)
Western Europe (Germany, Italy, U.K, Spain, France, Rest of Western Europe)
Eastern Europe (Russia)
Asia Pacific (China, India, ASEAN, Australia & New Zealand)
Middle East and Africa (GCC, S. Africa)
Medicated feed additives Market: Overview
Business operations in the animal feed industry differ between and within regions and countries. While only 15% of compound feed is produced by the top 15 players in the global market, the top five feed producing countries represent 75% global tonnage of both traditional and compound feeds. Aquaculture is witnessing increasing consumer demand due to an increasing tendency for lean protein in the supplements for human diets globally. Accordingly, demand for fish meat is projected to grow in the near future and the supply of which is somehow depends on the amount of fish-catch in a year.
Medicated Feed Additives Market: Region-wise Outlook
Geographically medicated feed additives market is segregated into seven key regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific and Middle East & Africa.
North America medicated feed market is projected to expand with significant CAGR in the near future on the back drop of increasing demand for better food and other primary products. Eastern and Western Europe medicated feed additives market is expected to witness promising growth in the near future due to large demand for dairy products and meat. With rise in health care spending on animals and economic manufacturing in Asia Pacific countries is projected to favour the market for medicated feed additives. Rising poultry demand in China and other Asian countries has been fuelling demand for methionine, thereby creating shortage for the additive in the Asia Pacific region.
Medicated feed additives Market: Key Players
Cargill, Inc., Koninklijke DSM N.V, BASF SE, Evonik Industries AG, Zoetis Inc., Nutreco N.V., Novozymes A/S and Phibro are some of the participating global players in medicated feed additives market.
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