Feed additives are food supplements for farm animals, which fulfill the nutritional needs that are not met by regular meals.
They are an essential part of the animal nutritional necessity. They enhance feed quality, and hence, improve animal health and productivity. Increasing living standards and disposable income are raising meat and dairy product consumption. Combined with that, the growing preference among livestock producers toward quality and nutrition is fueling the steady demand for feed additives.
Segmentation by type
The most important types are vitamins, minerals, amino acids, antioxidants, fatty acids, medications, and flavors & sweeteners. Vitamins and minerals improve weaning and conception rates, immunity, and overall health. Medications help livestock farmers to decrease the odds of animals becoming diseased.
Segmentation by area
The sector is divided into various areas, i.e., America, Europe, Asia-Pacific, and Middle East & Africa. Asia-Pacific is thought of as the fastest-growing market, with China expected to be the global leader. EU has put forward stringent regulation and approval process, which might increase the production cost and hamper demand.
Increasing demand for improved quality of farm products amid increasing living standards in countries, such as New Zealand, Portugal, and Iceland, is driving the growth of the worldwide feed additive market. Increased awareness about the nutritional content of meat and other dairy products among consumers has prompted livestock farmers to provide better nutrition to the farm animals. These factors have contributed to a steady rise of the market.
However, conventional feeding methods, such as crop residue and grazing, still pose a danger to the feed additive market, owing to very low or zero costs related. Further restraints include a ban on various medications in several countries and stringent regulations, as well as volatility, in costs of raw materials. Case in point is the EU Regulation 1831/2003, which states that all feed additives on the market within the European Union need to undergo a comprehensive approval procedure. Other markets are also expected to follow suit, according to the market intelligence company.
Here’s a list of some of the major market players:
– Adisseo France SAS
– BASF SE
– Danisco Animal Nutrition
– Chr. Hansen
– Archer Daniels Midland Company
Various important improvements are being seen in the feed additive business.
– Biomin, the Austria-based animal feed additive maker, opened a new manufacturing plant in Jiangsu, China.
– Olmix opened its first factory in Asia, with an annual production capacity of 15,000 metric ton of feed additive in Vietnam.
– Nutriad engaged in partnerships with Brazilian universities, with the intention to evaluate its product portfolio for tropical circumstances.