(I-BusinessNews.Com, February 03, 2020 ) The medicated feed additives market is projected to grow at a CAGR of 5.41%, to reach a value of USD 15,320.4 million by 2022 from an estimated USD 11,168.4 million in 2016. Medicated feed additives improve the quality and nutritional content of the feed. These additives help in the growth & development of animals and increase the feed intake. Increase in the awareness of high-quality meat, which is rich in nutrients, has resulted in an increase in the usage of medicated feed additives. The growing awareness about meat & dairy products and concerns related to livestock health and industrialization of animal processed products are the major drivers of the medicated feed additives market.
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Significant growth expected in the enzymes segment
The demand for feed enzymes is increasing as they are used for the development of the immune system and bones of animals. Enzymes increase the digestibility of nutrients in the feed, which leads to an increase in the efficient production of various animal products such as meat, milk, and eggs.
Concentrates is projected to be the fastest growing segment in the medicated feed additives market, by mixture type
Medicated feed concentrates are substances mixed with other feed materials to form either a supplement or a complete feed. Concentrates are less bulky and have higher digestibility. The concentrates segment is hence projected to be the fastest growing segment in the medicated feed additives market, by mixture type.
The growing awareness about meat & dairy products and concerns related to livestock health and industrialization of animal processed products are the major drivers of the medicated feed additives market.
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Continuous rise in population and support from governments as well as national and international associations key to success in the Asia-Pacific region
The Asia Pacific region accounted for the major market share for medicated feed additives between 2016 and 2022. Asia Pacific records the maximum consumption of medicated feed additives due to the increase in population and rise in disposable income. Key players focus on research & developments to develop products conforming to European regulations for medicated feed additives, since these regulations are considered to be benchmarks in terms of certain feed additives such as antibiotics.
Asia Pacific is projected to be the largest market for medicated feed additives, followed by Europe, by 2022, owing to increased awareness about medicated feed additives and their associated benefits in controlling livestock epidemic outbreaks. It remains one of the important markets for medicated feed additives manufacturers due to its livestock population size and its regulatory environment. The RoW countries are increasingly adopting medicated feed additives, due to a change in consumer lifestyles and increase in demand for meat products.
The medicated feed additives market is dominated by major players such as Archer Daniels Midland Company (US), Cargill, Incorporated (US), and CHS Incorporated (US).
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