The Medicated Feed Additives Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Medicated Feed Additives Global Market Report 2024, The medicated feed additives market size has grown strongly in recent years. It will grow from $13.04 billion in 2023 to $13.8 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to prevalence of animal diseases, optimization of feed efficiency, government regulations for feed safety, globalization of feed additives market, preventive use in disease control programs.
The medicated feed additives market size is expected to see strong growth in the next few years. It will grow to $16.81 billion in 2028 at a compound annual growth rate (CAGR) of 5.1%. The growth in the forecast period can be attributed to rise in aquaculture production, focus on gut health and digestive function, sustainable and ethical farming practices, research in antimicrobial peptides, global efforts in disease eradication. Major trends in the forecast period include extensive investments in r&d, product innovations, advancements in animal feed.
An increase in the rise in consumption of poultry products is expected to propel the growth of the medicated feed additives market going forward. The term poultry product refers to any poultry carcass or any product made entirely or partially from any poultry carcass, including those containing a very modest percentage of poultry ingredients. Medicated feed additives are used to prevent and treat coccidiosis, a parasitic disease of the intestinal tract of animals caused by coccidian protozoa and necrotic enteritis, enteric disease of poultry. Hence, the rise in consumption of poultry products will increase the demand for medicated feed additives to keep the poultry healthy. For Instance, in August 2022, according to the United States Department of Agriculture, a US-based federal executive department, the global poultry imports in 2021 was 14.2 million metric tons, and the global poultry imports are estimated to increase by 24% to reach 17.5 million metric tons in 2031. Therefore, the rise in consumption of poultry products is driving the growth of medicated feed additives.
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The medicated feed additives market covered in this report is segmented –
1) By Type: Antibiotics, Vitamins, Antioxidants, Amino Acids, Prebiotics, Probiotics, Enzymes, Other Types
2) By Animal Type: Ruminants, Swine, Poultry, Aquaculture, Other Animal Types
3) By Mixture Type: Supplements, Concentrates, Premixes, Base Mixes
Product innovation is a key trend gaining popularity in the medicated feed additives market. Major market players are concentrating their efforts on creating innovative products such as the development of new active ingredients, the use of alternative delivery systems, combination products, and precision medicine. For instance, in October 2021, Cargill, a US-based, global food corporation, launched Nutrena Naturewise, an essential oil in chicken feed to promote a healthy flock and increase egg production. It helps to promote the growth of egg weight, size, and production. They also improve egg palatability and provide eggs with a fresh aroma right out of the bag.
The medicated feed additives market report table of contents includes:
1. Executive Summary
2.Medicated Feed Additives Market Characteristics
3. Medicated Feed Additives Market Trends And Strategies
4. Medicated Feed Additives Market Macro Economic Scenario
5.Medicated Feed Additives Market Size And Growth
6.Medicated Feed Additives Segmentation
7.Medicated Feed Additives Regional And Country Analysis
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27.Medicated Feed Additives Competitive Landscape And Company Profiles
28.Medicated Feed Additives Key Mergers And Acquisitions
29.Medicated Feed Additives Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Archer-Daniels-Midland Company
- Cargill Incorporated
- CHS Inc.
- Zoetis Services LLC
- Purina Animal Nutrition LLC
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