Medicated feed additives are nutrients or drugs added to cattle feed. Vitamins, amino acids, fatty acids, minerals, medications, fungus, and steroidal compounds are examples of additions. Medicated feed additives can significantly increase animal health, productivity, and output. Medicated feed additives improve feed efficiency and daily gain average. Additionally, numerous feed additives helped to reduce bloat, acidosis, and coccidiosis. Other feed additives are used to reduce liver abscesses, treat foot rot, inhibit estrus, and suppress parasites.
Global Medicated Feed Additives Market Driving Factors and Challenges
The Medicated Feed Additives market is being driven by several key factors. Various development reasons, including rising demand for animal protein, are propelling the global medicated feed additives sector. Demand for animal protein has increased due to the world's growing population and rising economic levels. This has raised demand for medicated feed additives, which can assist enhance animal health and production. The introduction of new and improved medicated feed additives, including as probiotics and prebiotics, has enhanced their efficacy and safety. As farmers seek to improve the health and production of their livestock, demand for medicated feed additives has increased. The Asia Pacific area has the greatest market for medicated feed additives, owing to the region's expanding demand for animal protein. As a result, investment has increased.
However, the Medicated Feed Additives market is not without its challenges. The global medicated feed additives market is confronted with a number of challenges, including high costs. Medicated feed additives can be costly, which limits their use in some markets. This is especially difficult for small farmers who may not be able to afford these products. Also, some farmers may not be aware of the benefits of medicated feed additives, or may not have access to information about these products. This has the potential to reduce demand for certain products, particularly in poorer countries. There are alternative products available that can improve animal health and productivity, such as vaccines and biosecurity measures. These products may be perceived as safer or more effective than medicated feed additives, potentially limiting demand.
Impact of COVID-19 on Global Medicated Feed Additives Market
The market experienced adverse effects as a result of COVID-19. The global pandemic has been found to disrupt the operations of certain industries across different regions. It had a noticeable impact on processes such as obtaining phytosanitary certificates, export permits, import permits, and customs clearances. This disruption primarily stemmed from reduced government workforce, leading to delays in trade consignments and limited access to various medicated feed additives for farmers. Looking ahead, it is anticipated that decreased demand from fast food restaurants and increased transaction costs will create a ripple effect, resulting in higher manufacturing costs for medicated feed additives on a global scale.
Medicated Feed Additives Market Key Players:
The market study provides market data by 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, Nutreco, Novozymes, Palital Feed Additives B.V, TEGASA, Others.
Global Medicated Feed Additives Market Segmentation:
By Source: Based on the Source, Global Medicated Feed Additives Market is segmented as; Natural, Synthetic.
By Mixture Type: Based on the Mixture Type, Global Medicated Feed Additives Market is segmented as; Base Mixes, Concentrates, Premix Feeds, Supplements.
By Type: Based on the Type, Global Medicated Feed Additives is segmented as; Amino Acids, Antibiotics, Antioxidants, Enzymes, Probiotics & Prebiotics, Others.
By Livestock: Based on the Livestock, Global Medicated Feed Additives is segmented as; Aquaculture, Poultry, Ruminants, Swine, Others.
By Region: This report also provides the data for key regional segments of Asia-Pacific, Europe, Middle East and Africa, North America, Latin America.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.