The Middle East and Africa Feed Preservatives Market was worth $0.15 billion in 2016 and estimated to be growing at a CAGR of 9.917%, to reach $0.24 billion by 2021.
The market is expected to showcase evident potential in the mentioned forecasting period. The market continues to grow with rising awareness regarding feed management practises and customization of formulations to reduce costs of production and hence improve livestock health, which has in turn led to an increase in the investments on the quality of feed products resulting in the increasing need for preservatives.
Feed Preservatives comprise of a bunch of feed additives like feed antioxidants, acidifiers. which are generally used to maintain a better livestock hygiene and hence improve their productivity.
They are actually used to improve feed quality by having an increase in the nutritional content of the livestock feed.
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There are many different factors driving the growth in the Feed preservatives market and thus being responsible for the market to show such potential in the given forecast period. The major ones include regulatory requirements for feed quality improvement, unpredictability of crop harvest patterns leading to the need for feed storage.
Further, Industrialization in the sector of poultry across developing markets has also led to significant growth of the market. As far as challenges and restraints are concerned there has been just one major factor responsible for holding back the market from reaching its potential recently which is the limitation on margins of profit of the End Product.
Due to this the market has experienced lower investments than predicted.
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The Middle East & Africa market for Feed Preservatives is segmented on the basis of type, livestock and feed type. Based on type the market is segmented into Feed acidifiers, Mold inhibitors, Feed antioxidants and Anticaking agents.
The acidifiers are further fragmented into propionic, formic, lactic and sorbic acid. The sub segments for mold inhibitors include propionates, benzoates, natamycin.
For feed antioxidants, the sub segmentation is done into BHA, BHT and Ethoxyquin. On the basis of Livestock, the market is segmented into cattle, poultry, swine, aquaculture and other livestock.
Under feed type the segmentation is done into compound feed, feed premix, feed meal, silage and other feed types. Acidifiers, poultry and compound feed account for the largest market shares in their respective segments.
On the basis of geography, the Middle East & Africa market is analysed under two regions namely Middle East and Africa.
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Some of the major companies dominating the market, by their products and services include E.I. Dupont De Nemours and Company, Impextraco NV, Nutreco N.V., BASF SE, Alltech Inc., Perstorp Holding AB, Biomin Holding GmbH, Novus International Inc., Cargill Inc., Kemin Industries Inc.
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