The feed supplements market can acquire a noteworthy growth rate during the appraisal period (2022 to 2030), believes Market Research Future (MRFR).
Top Drivers and Impediments
Rise in global meat consumption paired with the growing number of disease outbreaks have resulted in a higher requirement for better quality feeds in aqua, poultry, and more. Feeds are being infused with different supplements to improve the performance and health of animals. As a result, feed supplements are indirectly affecting the characteristics of human food products. Consumption of feed supplements with high nutrient profiles leaves a positive impact on the livestock, including improvement in reproduction and digestion.
The rising preference for dairy and meat products across the globe could also buttress the market growth in the ensuing years. Rising spending on extensive research and development/R&D to boost food fortification techniques of the supplements can also give rise to a host of lucrative opportunities over the coming years.
Over the years, the retail sector has become quite lucrative on the back of the increasing purchasing capacity of the consumers due to rising per capita income, industrialization as well as globalization, which has led to a major demand for processed dairy and meat products. On the technical front, various key manufacturers have been increasingly adopting automated systems for complete control of their extensive production lines. The use of automation systems is helping the firms to bolster their production rate, track inventory, boost operator efficiency, and monitor every high-speed process. Therefore, fortified supply chains of the leading firms in the market have also been favorable, in terms of growth.
The feed supplements market participants are Land O'Lakes Inc. (U.S.), Archer Daniels Midland Company (U.S.), Cargill Incorporated (U.S.), Grain Corp Ltd. (Australia), BASF SE (Germany), and others.
The global Feed supplements market report is segmented into the following parts by;
Type-wise, the primary segments can be minerals, vitamin, protein, fatty acid, amino acid, and others. The amino acid section could soar at the fastest pace in the coming years.
Forms discussed in the extensive study are liquid, dry and more. The dry form is more popular than the liquid form among the livestock breeders, since they are easy to mix with the feed along with easy storage property. Its availability in squash and pellet shapes, allowing buyers to blend more effectively.
Livestock covered in the analysis study are poultry, ruminants, aquaculture, swine, and more. Out of all the livestock-based segments, the poultry sector generates maximum demand for a variety of feed supplements.
The global feed supplements market is segmented into North America, Asia Pacific, Europe, and the Rest of the World (RoW).
The Asia Pacific is leading the feed supplement market, followed by North America, and is anticipated to account for the largest regional feed supplements market trends over the review period. In the Asia Pacific, emerging economies such as China and India are the major contributors to the meat industry, which sequentially contributed to the market for feed supplements in this region over the review period. Furthermore, the increasing population in these countries, followed by the growing consumption of livestock in developing countries in Asia and the Pacific, is advancing the feed supplement market over the review period.
In North America, the developed countries such as the U.S. and Canada are leading the feed supplements market due to the favourable government regulations that have been imposed. Furthermore, the increasing demand for swine and poultry products in Europe is expected to fuel the feed supplement market in Europe, while Brazil and the Middle-East regions are also expected to witness substantial growth owing to an upsurge in demand for protein intake from the application sectors of swine and poultry.
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