Animal
Feed Additives Market: Introduction
The latest
market report published by Transparency Market Research on the animal feed
additives market includes global industry analysis and
opportunity assessment for 2019-2029. Revenue
generated from the global animal feed additives market was estimated to be
valued at ~US$ 15 Mn in 2019,
which is projected to rise at a CAGR of ~2%, to reach ~US$
18 Bn by 2029.
The prime
focus of animal nutrition industry is efficiency, while the world is moving
toward safe food production and sustainability. Animal nutrition manufacturers
are aiming to develop feed industry solutions, which promote highest level of
biosecurity and feed safety management, while decreasing the environmental
impacts of livestock and feed production. Production of gut-friendly
ingredients and additives in animal feed is gaining prominence among
manufacturers.
Rising Consumer Demand for High
Quality Food Products Creates Space for Animal Feed Additives
The demand for
animal feed additives has been increasing consistently, a feat that can be
accredited to the escalating consumption of poultry and meat food products
worldwide. Animal feed additives play a vital role in safeguarding the health
and quality of source livestock. Improving animal feed with various nutrients can
help to improve weight gain and digestion in animals, in addition to preventing
the occurrence of diseases. Animal-based food, including fish, beef, pork, and
eggs are part of everyday meal of consumers in several regions across the
world. Thus, it has become extremely crucial for manufacturers to guarantee the
wellbeing of their animals and livestock, exhibiting a considerable demand for
nutritional feed products. Hence, there is potential for increase in adoption
of animal feed additives over the years to come.
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Increasing Prevalence of Food-borne
and Zoonotic Diseases to Fuel Demand
Fear of
zoonotic and food-borne diseases such as various types of avian flus is
expected to fuel demand for feed additives over the forecast period. The
European Food Safety Authority (EFSA) estimates that 320,000 cases of
food-borne and zoonotic diseases occur each year in EU countries. Furthermore,
in the EU, 220,200 people were reportedly infected with campylobacteriosis (a
zoonotic disease, which is a result of the consumption of infected broiler
meat) in 2012. These factors are fueling consumer
demand for adequate gut-friendly additives such as probiotics, amino acids and
phytogenic nutrients, in view of keeping animals healthy the natural way. Asia
Pacific and the Middle East are particularly expected to exhibit rising demand
for additives over the forecast period due to frequent viral disease outbreaks
in these regions.
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Price Volatility Might Act as Barrier
to Growth
Price
instability and volatility in supply of raw materials for animal feed additives
are the prime concerns among manufacturers, as both feed and feed additives are
supplied on a contractual basis. These contracts are subject to unsystematic
risks such as climatic fluctuations, interest rate volatility, and geo-political
tensions. These factors may hamper the growth of the animal feed additives
market. However, collaborative production and strategic relationship building
across the width of the value chain could result in substantial cost savings
for manufacturers.
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