Target Audience of Feed Additives Market: Manufacturer / Potential Investors, Traders, Distributors, Wholesalers, Retailers, Importers and Exporters, Association and government bodies.
Feed Additives Market Report provides key statistics on the market status of the Feed Additives Key-players/Manufacturers and is a valuable source of guidance and direction for companies and individuals interested in the Industry
The Global feed additives market is forecasted to register a significant CAGR over the forecast period.
Growth in Compound Feed Industry
The global compound feed market revenue is estimated to grow at a CAGR of 1.6% over the period 2018-2023. The compound feed industry is mainly driven by factors like increasing meat consumption across the globe and growth in the processed meat industry due to increased income of middle-class population in developing countries. Demand for high-quality compound feed from livestock industry due to increased industrial production of meat and dairy products has elicited the growth in consumption of the compound feed and feed additives. The raw materials used for compound feed production such as maize, barley, soybean are used for human consumption and production of ethanol. In this scenario, the feed industry competes with the food industry for raw materials. This condition has generated the demand for additives, which are cost effective and enhance production. The home mixers and large farm owners provide additives to the livestock to ensure a steady supply of high-quality meat, dairy and derived products.
Regulatory issues are the biggest constraints in the compound feed industry. Animal feed production comes under feedstuff regulations in most countries. The regulatory framework is increasingly getting stringent, such as in 2006 in EU and in 2009 in United States, which banned the use of certain antibiotics as growth promoters in animals. Europe had imposed a ban on the use of animal proteins in aqua feed.
Many countries including China, Thailand and Vietnam that export fish to Europe and United States do not have such regulations against antibiotics or animal proteins usage in animals or feeds. Such disparities in regulations have adverse effects on the global fish and aqua feed trade, especially between developed and developing economies. Producers of feed and feed additives are required to follow strict regulations related to regional and national health and safety for their products approval in the developed nations. This ultimately affects the cost of the final products. Such regulatory initiatives are posing challenges for existing feed products and increasing the cost of new feeds development.
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Major companies covered in this Report:
- Danisco Animal Nutrition
- Archer Daniels Midland
- Phibro Animal Health Corporation
- Alltech Inc.
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This Feed Additives market report offers an overview of the market trends, drivers, and barriers with respect to the market. A detailed analysis of key players, along with key growth strategies adopted by them is also covered in this report on Feed Additives market.