The Global Medicated Feed Additives Market was worth USD 11.3 billion in 2016 and estimated to be growing at a CAGR of 5.43%, to reach USD 14.72 billion by 2021.
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The Medicated Feed Additives market is showing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rise in the consumption of meat and dairy products.
Thus, various companies have been showing interest in the market recently.
Medicated feed refers to all the products intended to be an important source of nutrient in animal diet.
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Medical Feed Additives are responsible for maintaining a healthy proportion of nutrients in animal feed, thus in turn improving their productivity while keeping their health in mind.
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Rising awareness about high quality meat, rich in nutrients with the growing population has been a boon for the market. Other major factors contributing to the market growth include rise in disposable income, epidemic outbreak among animals, organization of the livestock industry, and various animal husbandry practises being implemented for the improvement of meat quality.
However, there are some restraints face by the market as well like stringent regulations by government, alternates like organic products and risks to humans related to medicated feed additives.
The Global market for Medicated Feed Additives is segmented on the basis of type, livestock and mixture type. The market segmentation on the basis of type is done under Antioxidants, Antibiotics, Probiotics, Prebiotics, Enzymes, Amino Acids and Others.
The market share is dominated by enzymes segment and is expected to be fastest growing as well. Based of livestock the market is segmented into swine, poultry, cattle, aquaculture, pet foods and others.
The cattle segment accounted for the highest market share on the basis of livestock due to increase in production of cattle meat over the recent years and is expected to grow even further. Based on mixture type, the market is segmented into supplements, concentrates, premix feeds and base mixes.
The concentrates segment is expected to show the highest growth rate in the upcoming years. On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World.
The Medicated Feed Additives market was dominated by North America, with the overall market share of almost 30% globally. North America was followed by Europe and Asia-Pacific.
Asia Pacific is predicted to grow at a rapid pace in the coming few years.
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Some of the major companies dominating the market, by their products and services include Zoetis Inc., Cargill, Archer Daniels Midland Company, CHS Inc., Purina Animal Nutrition (Land O’ Lakes), Adisseo France Sas, Alltech Inc. (Ridley), Biostadt India Limited, Zagro, Hipro Animal Nutrtion.
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