Medicated Feed Additives Market Overview
Medicated Feed Additives Market Size is Estimated to be Worth USD 20.1 Billion at a CAGR of 4.72% by 2023-2030
The growing practice of advanced animal husbandry to provide a better quality of meat is estimated to drive the medicated feed additives market share. Further, the growing instances of epidemic outbreaks among animals is projected to provide a significant push to the demand and thereby strengthening the market. In order to provide better performance and health to animals, medicated feed additives have gained significance which is projected to develop the market. In addition, the increased awareness about meat & dairy products and concerns related to livestock health are recognized to be other potent factors driving the medicated feed additives market.
However, stringent rules imposed owing to the usage of medicated feed additives can hamper market growth. On the contrary, the presence of opportunities, along with above-stated factors can boost the market during the evaluation period.
Key Players
Some of the renowned players of the global medicated feed additives market are Cargill, Incorporated (US), Archer Daniels Midland Company (US), CHS Inc. (US), Purina Mills, LLC (Land O’ Lakes) (US), Zoetis Inc. (US), Adisseo France SAS (France), Zagro (Singapore), Alltech Inc. (Ridley) (US), HIPRO LTD STI (Turkey) and Biostadt India Limited. (India).
Market Segmentation
The segmental analysis of the global medicated feed additives market research is done by category, type, and livestock type.
The category-based segments of the global medicated feed additives market are concentrate, base mix, supplement, premix feed, and others.
The type-based segments of the global medicated feed additives market are antibiotics, antioxidants, probiotics and prebiotics, amino acid, enzymes, and others.
The livestock type-based segments of the global medicated feed additives market are poultry, aquaculture, ruminant, swine, and others.
Regional Analysis
Based on the region, the global medicated feed additives market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
As per the analysis, the global medicated feed additives market is projected to be dominated by the APAC region due to the increasing awareness regarding animal health. The presence of developing countries is predicted to play an important role owing to the economic expansion and the ongoing research and development program. The emerging nations like India and China are likely to make the maximum contribution in expanding the regional market. China is anticipated to be the largest nation-level market for meat production. The medicated feed additives are gaining prominence to control the outbreak of livestock diseases, which can notably augment the market. Further, medicated feed additives regulate metabolism and maintain good health in animals which is another anticipated factor developing the regional market.
North America is estimated to acquire the highest CAGR during the forecast period owing to the growing awareness about the health of livestock. The US and Canada are likely to make significant contribution during the review period. Further, the region is predicted to show decent growth due to the high disposable income and growing awareness in the region. In addition, the increasing consumption of meat is expected to propel the regional growth of the market further.
Europe is estimated to amass significant market value and thrive at a notable CAGR during the review period. The region is likely to propel owing to the increased research and development program being conducted in the region.
The MEA region is likely to exhibit decent growth during the forecast period. The growing awareness regarding medicated feed additives can strengthen the regional market.
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