Medicated Feed Additives Market Growth and Revenue 2023, Emerging Trends, Size, Key players Analysis, Opportunity and Future Share 2033: SPER Market Research
Medicated feed additives are nutritional supplements or pharmaceuticals used in livestock feed. Vitamins, amino acids, fatty acids, minerals, medications, fungus, and steroidal compounds are examples of additives. Medicated feed additives can improve animal health, productivity, and output significantly. Medicated feed additives offer two benefits, namely enhanced feed efficiency and increased average daily weight gain. Several feed additives also aided in the reduction of bloat, acidosis, and coccidiosis. Other feed additives are used to treat foot rot, inhibit estrus, and control parasites.
According to SPER market research, ‘Medicated Feed Additives Market Size- By Source, By Mixture Type, By Type, By Livestock – Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Medicated Feed Additives Market is predicted to reach USD 22.82 billion by 2033 with a CAGR of 5.41%
The Medicated Feed Additives market is expanding rapidly due to several key factors. The global medicated feed additives market is being pushed by a number of reasons, including rising demand for animal protein. The growing global population, combined with rising economic levels, has raised demand for animal protein. This has resulted in an increase in demand for medicated feed additives, which can assist enhance livestock health and production. The introduction of new and improved medicated feed additives, including as probiotics and prebiotics, has increased the efficacy and safety of these products. This has increased demand for medicated feed additives as farmers attempt to improve the health and production of their animals.
Despite the many drivers and opportunities for growth in the Medicated Feed Additives market, there are also several challenges that must be addressed. The global medicated feed additives industry is confronted with a number of issues, 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. Antibiotic overuse in animal feed has resulted in the emergence of antibiotic-resistant bacteria, posing a threat to human health. This has led to increased scrutiny of the use of antibiotics in animal feed, which can limit the market potential for medicated feed additives that contain antibiotics. Some farmers may be unaware of the advantages of medicated feed additives or may lack access to information about them. This may reduce demand for these products, particularly in the short term.
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Impact of COVID-19 on Global Medicated Feed Additives Market
In addition, COVID-19 had a negative impact on this market. The global pandemic has been proven to have an impact on how successfully certain industries run in various locations. It affected phytosanitary certificates, export and import permits, and customs clearances. This was primarily 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 decreased demand from fast food restaurants and rising transaction costs will have a domino effect, raising the price of medicated feed additive manufacturing globally.
Geographically, Asia-Pacific dominates the Global Medicated Feed Additives Market. Asia-Pacific is expected to develop at the fastest rate in the global Global Medicated Feed Additives Market during the forecast period. Additionally, some of the market key players are Ajinomoto, NUQO Feed Additives, Novus International, Nutreco, Novozymes, 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.
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Medicated Feed Additives Market Growth
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