According to SPER Market Research, the Global Medicated Feed Additives Market is veterinary nutrients and medications that are added to the feed for animals are referred to as medicated feed additives. They are an effective way to give animals medicine. Important vitamins, minerals, trace elements, antioxidants, preservatives, antibiotics, and other chemicals are included in the additives.
The prevalent animal epidemics are anticipated to propel the market for medicated feed additives throughout the forecast period. Additionally, it is projected that the transition of the livestock industry from an unorganized to an organized one would further fuel the expansion of the market for medicated feed additives.
Medicated Feed Additives Market Overview:
- Forecast CAGR (2022-2030): 6.8%
- Forecast Market Size (2030): 23.85 billion
On the other hand, it is also predicted that the market for medicated feed additives would have slow growth in the forecast period due to stringent regulations governing the use of medicated feed additives and a small number of medicated feed ingredients that are dangerous to humans.
In the upcoming years, the use of modern animal husbandry techniques to improve meat quality will also offer prospective growth prospects for the market for medicated feed additives. The market for medicated feed additives, however, may face additional challenges in near future due to the substitution of conventional goods with organic ones.
Impact of COVID-19 on the Medicated Feed Additives Market:
In 2020, COVID-19 had a negative impact on the market. The global pandemic has been proven to have an impact on how successfully certain sectors run in various locations. It affected phytosanitary certifications, export and import licences, and customs clearances. This was mostly due to fewer staff in government offices, which caused trade consignments to be delayed and farmers to have less access to various medicated feed additives. During the projection period, it is expected that decreasing demand from fast food restaurants and increased transaction costs would have a domino effect, raising the price of medicated feed additive manufacturing globally.
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Global Medicated Feed Additives Market Key Segments Covered:
The SPER Market Research report seeks to give market dynamics, demand, and supply forecasts for the years up to 2030. This report contains statistics on product type segment growth estimates and forecasts.
By Mixture Type,
- Premix Feeds
- Base Mixes Cryptocurrency
- Probiotics & Prebiotics
- Amino Acids
- Others Media & Entertainment
- Others Europe
- North America
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends, and strategies for this market. It traces the market’s historic and forecast market growth by geography.
Global Medicated Feed Additives Market Key Players:
Global Medicated Feed Additives Market study provides market data by the competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Ajinomoto, Adisseo, BASF, Bentoli, Chr. Hansen, DSM, Evonik, Global Nutrition International, Kemin Industries Inc., NUQO Feed Additives, Novus International, Inc., Nutreco, Novozymes, Palital Feed Additives B.V, TEGASA.
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SPER Market Research