Worldwide Feed Supplements Market estimated to grow at a CAGR of 6.2% from 2018 to 2023
Feed Supplements Market Research Report by Type (Protein, Vitamin, Amino Acid, Fatty Acid, Minerals and others), Form (Dry, Liquid and others), Livestock (Ruminants, Poultry, Swine, Aquaculture and others) and Region Forecast till 2023
pune, India – July 31, 2018 /MarketersMedia/ —
Market Overview:
Feed supplements are a means to provide additional nutritious elements and improve the quality of livestock feed. Feed supplements are the fillers of deficiency in the regular meals provided to the livestock. It helps to improve the feed quality, animal health, and reduce the livestock diseases. Increasing awareness of animal nutrition and rising concern for animal health is driving the market of feed supplements. Growing population in developing countries has increased the demand for production of poultry, swine, aquaculture, and other livestock for consumption which has opened doors for feed supplements market.
Due to the health benefits associated with feed supplements for animals, the market is growing at an incremental pace globally. Market Research Future, a firm which specializes in market reports related to the Food, Beverages & Nutrition sector among others, recently forecasted in its report on ‘Global Feed Supplements Market Research Report- Forecast to 2023’ that the market will demonstrate a high CAGR while achieving good growth rapidly in the forecast period.
Growing demand for animal protein owing to socio economic changes such as increasing disposable income, rising urbanization, and growing geriatric population is directly impacting the demand for feed supplements, specifically in low and middle income economies. Furthermore, global meat consumption has risen significantly over the years, particularly consumption of poultry meat which has increased manifold over the years, consequently accelerating the demand for feed supplements. The regional governments are forming regulations to standardize meat products to prevent consumers from the outbreak of livestock diseases which is driving the growth of feed supplements market.
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Latest Industry Updates:
Dec 2017 Ascus Biosciences is working to commercialize its first endomicrobial feed supplements product, Galaxis. The product is expected to be launched in the first half of 2018 in Argentina.
Jul 2017 BASF Animal Nutrition launched Lutavit A NXT which is a new vitamin A product line.
Jun 2016 Evonik industries launched L-valine (ValAMINO) which is the fifth essential amino acid for animal nutrition. Through this product launch, the company aims to strengthen its product portfolio.
Jan 2016 BASF Animal Nutrition launched new enzyme for animal nutrition, Natuphos E in India market. The product will help potltry to utilize phosphorous and key nutrients more efficiently.
Major Key Players Analysis:
The key players of the market are investing a significant amount in research and development for developing novel products in order to capitalize on the growing demand for the product. For instance, BASF Animal Nutrition launched Lutavit A NXT which is a new vitamin A product line recently which aims at strengthening company’s product portfolio. The best long-term growth opportunities for this sector can be captured by following both organic and inorganic growth strategy. Acquisition and merger with smaller market players will help the company to tap the potential market.
The key players profiled in feed supplements market report are Land O’Lakes, Inc. (U.S.), BASF SE (Germany), Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Grain Corp Ltd. (Australia), LEO BIO-CARE PVT. LTD (India), and Dallas Keith Ltd (U.K.) among many others.
Market Segments:
The global Feed Supplements market has been divided into type, form, livestock, and region.
On The Basis Of Type: Protein, Vitamin, Fatty Acid, Amino Acid, Minerals and others
On The Basis Of Form: Dry, Liquid and others
On The Basis Of Livestock: Ruminants, Swine, Poultry, Aquaculture and others
On The Basis Of Region: North America, Europe, Asia Pacific and ROW.
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Regional Analysis:
Feed Supplements Market is segmented into Europe, North America, Asia Pacific and rest of the world (RoW). Asia Pacific is dominating the feed supplement market followed by North America. In Asia Pacific, China is the major contributor of meat industry which in turn grows the market of feed supplements in this region. Moreover, rising population followed by increasing consumption of livestock in developing countries of Asia Pacific is boosting the feed supplement market. In North America, the U.S. is dominating the market owing to favorable government regulations imposed. Moreover, rising demand for poultry and swine products in Europe will boost the feed supplement market. Additionally, Brazil and the Middle-East regions are witnessing growth owing to increase in demand of protein intake from swine and poultry applications.
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