- Increasing awareness of animal nutrition and rising concern about animal health is boosting the feed supplements market.
- An increase in the cost of raw materials may hamper the feed supplements market.
- Rising demand for poultry and swine products in Europe will boost the feed supplement market.
Feed supplements are added to livestock food formulation to increase the nutritional content in the animal feed. The commonly added nutrients include proteins, vitamins, amino acid, fatty acids, minerals and others. They help to improve the feed quality, animal health and reduce livestock diseases which further helps in quality of products derived from livestock.
The Feed supplements Market provides additional nutritious elements and improves the quality of livestock feed. Growing populations in developing countries have increased the demand for production and consumption of poultry, swine, aquaculture and other livestock, which is driving the market for feed supplements. Moreover, increasing awareness of animal nutrition and rising concern about animal health is boosting the feed supplements market.
Regional governments are forming regulations to standardize meat products to protect consumers from the outbreak of livestock diseases which is adding fuel to the growth of the feed supplements market. However, an increase in the cost of raw materials may hamper the feed supplements market. Nevertheless, all these factors are projected to contribute to an estimated CAGR of 6.2% in the feed supplements market during the forecast period 2017-2023.
Based on the type, feed supplements market is segmented into protein, vitamins, amino acid, fatty acids, minerals and others. Among all, amino acid is dominating the market followed by vitamins. Amino acid contains lysine which is commonly used in poultry and swine feed application. Whereas, vitamin segment is growing rapidly due to vitamin deficiency commonly found in livestock.
The feed supplements market is segmented based on form such as dry, liquid and others. The dry form of feed supplement is dominating the market. However, the liquid feed supplement is projected to witness high growth over the forecast period.
Buy Research Report: Wild Pollock Gains Traction as Better Substitute to Cod; Market to Record Relatively Slow Growth Rate Through 2030
Buy Research Report: Hydroxytyrosol Market Set for Healthy Growth Post Pandemic
Buy Research Report: Conveyor Sprockets Market to Reach US$ 940 Mn by 2030
Buy Research Report: Bedding Protectors Market to Cross US$ 3 Bn Valuation in 2030
Buy Research Report: Citrus Fiber Market to Expand 1.6X by 2030; Rising Demand for Immunity-boosting Food Products amidst COVID-19 Pandemic Aiding Market Growth
Based on livestock, feed supplements are segmented into ruminants, poultry, swine, aquaculture and others. Among all, ruminates is dominating the market based on increased consumption of meat and meat products globally. However, the poultry segment is witnessing steady growth over the forecast period owing to growth in the poultry industry.
The major players in the feed supplements market are BASF SE (Germany), Archer Daniels Midland Company (U.S.), Cargill Incorporated (U.S.), Land O’Lakes Inc. (U.S.), Grain Corp Ltd. (Australia),
LEO BIO-CARE PVT. LTD (India), and Dallas Keith Ltd (U.K.).
The global feed supplements market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific is dominating the feed supplement market followed by North America. In Asia Pacific, rising population followed by increasing consumption of livestock in developing countries of Asia Pacific is boosting the feed supplement market. Moreover, China is the major exporter of meat which in turn grows the market of feed supplements in this region.
In North America, the U.S. is dominating the market due to favorable government regulations. Moreover, rising demand for poultry and swine products in Europe will boost the feed supplement market. Additionally, Brazil and Middle-East regions are witnessing growth owing to increase in demand of protein intake from swine and poultry applications.