Feed additives are food supplements for farm animals, which fulfill the nutritional needs that are not met by regular meals.
They are an essential part of the animal nutrient necessity. They improve feed quality, and hence, improve animal health and productivity. Increasing living standards and disposable income are increasing meat and dairy product intake. Combined with that, the growing preference among livestock producers toward quality and nutrition is fueling the constant need for feed additives.
Segmentation by type
The most important types are vitamins, minerals, amino acids, antioxidants, fatty acids, medicines, and sweeteners & flavors. Vitamins and antioxidants improve weaning and conception rates, immunity, and overall health. Medications help livestock farmers to lower the odds of animals becoming diseased.
Segmentation by region
The market is divided into various areas, i.e., America, Europe, Asia-Pacific, and Middle East & Africa. Asia-Pacific is thought of as the fastest-growing market, with China expected to be the global leader. EU has put forward stringent regulation and approval process, which might increase the manufacturing cost and hamper demand.
Increasing demand for improved quality of farm products amid rising living standards in countries, such as New Zealand, Orlando Wildlife Removal, Portugal, and Iceland, is driving the development of the worldwide feed additive market. Greater awareness about the nutrient content of meat and other dairy products among consumers has prompted livestock farmers to provide better nutrition to the farm animals. These factors have led to a steady rise of the market.
However, conventional feeding methods, such as crop residue and grazing, still pose a threat to the feed additive market, owing to very low or zero costs associated. Additional restraints include a ban on various medications in several countries and strict regulations, as well as volatility, in prices of raw materials. Case in point is that the EU Regulation 1831/2003, which claims that all feed additives on the market within the European Union need to undergo a detailed approval procedure. Other markets are also expected to follow suit, according to the market intelligence firm.
Here’s a list of some of the major market players:
– BASF SE
– Alltech Inc..
– Cargill Inc..
– Chr. Hansen
– Archer Daniels Midland Company
Various key improvements are being seen in the feed additive industry.
– Biomin, the Austria-based animal feed additive maker, opened a new production plant in Jiangsu, China.
– Olmix opened its first factory in Asia, with an annual production capacity of 15,000 metric ton of feed additive in Vietnam.
– Nutriad engaged in partnerships with Brazilian universities, with the intention to assess its product portfolio for tropical circumstances.