Medicated Feed Additives Market Size, Share, and Growth Trends Unveiled (2023-2030)"
Medicated Feed Additives Market Outlook
Medicated Feed Additives Market Size was valued at USD 20.1 billion by 2030,exhibiting a compound annual growth rate (CAGR) of 4.72% (2023 - 2030). Medicated feed additives in animal feed help improve quality and nutrition for the better performance and health of the animal. Medicated feed additives improve health, efficiency, and production levels of animals.
Based on type, the global medicated feed additives market has been segmented into antioxidants, antibiotics, probiotics and prebiotics, enzymes, amino acid, and others. The enzymes segment accounted for the largest market share in 2017 and is expected to grow at a high rate during the forecast period as enzymes are used for the development of bones and immune systems in animals. Enzymes improve the digestibility of nutrients in the feed, which, in turn, increases the production of various animal products such as milk, meat, and eggs.
The global medicated feed additives market has been segregated, by livestock type, into ruminant, poultry, swine, aquaculture, and others. Poultry production has been increasing with the rising consumption of poultry meat and eggs. Thus, it has become vital for meat producers to focus on the quality of additives. The demand for medicated feed additives is increasing to provide nutritional feed for poultry. However, the aquaculture segment is expected to register the highest CAGR during the forecast period owing to the rising preference for fish and seafood. The health benefits of consuming fish and seafood are expected to drive the growth of the segment during the forecast period.
The global market for medicated feed additives has also been classified, by category, as supplement, concentrate, premix feed, base mix, and others. The supplements segment is expected to dominate the market during the review period. Supplements are concentrated sources of nutrients and, hence, have a higher nutritive value than fibrous fodder, making them ideal for medicated food additives.
Regional Analysis
On the basis of region, the global medicated feed additives market share has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific is expected to dominate the global medicated feed additives market owing to increasing awareness about the health of livestock, especially in China and India.
Asia-Pacific dominates the market for medicated feed additives as these products are necessary to regulate metabolism and maintain good health in animals. China and India are projected to contribute to the growth of the regional medicated feed additives market. China is projected to be the largest country-level market for meat products, with the use of medicated feed additives increasing to maintain health and reduce the outbreak of diseases.
The global medicated feed additives market has been segmented based on type, livestock type, category, and region.
By type, the global medicated feed additives market has been classified as antioxidants, antibiotics, probiotics and prebiotics, enzymes, amino acid, and others.
On the basis of livestock type, the global medicated feed additives market has been divided into ruminant, poultry, swine, aquaculture, and others.
The global medicated feed additives market has also been segregated, on the basis of category, into supplement, concentrate, premix feed, base mix, and others.
Key Players:
Some of the key players in the global medicated feed additives market are Archer Daniels Midland Company (US), Cargill, Incorporated (US ), CHS Inc. (US ), Zoetis (US), Purina Animal Nutrition LLC (US), Adisseo (France), Alltech (US), Zagro (Singapore), Hipro Ltd STI (Turkey), and Biostadt India Limited (India).
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