About Veterinary Feed Additives
Veterinary feed additives are directly mixed into the swine feeds, feeds for pigs, and alternative animals. These additives are offered globally in numerous shapes like powder feed, pellet feed, liquid feed, and others. Additives are the parts crucial for the sweetening of performance in addition because of the health of the animals. Hence, these products are circuitously influencing human food characteristics. Consumption of food containing an acceptable number of additives exerts positive effects on farm animals, like improvement in digestion and copy.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 3.2% |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Cargill (United States), ADM (United States), Evonik (Germany), DuPont (United States), BASF (Germany), DSM (Netherlands), Ajinomoto (Japan), Novozymes (Denmark), Chr. Hansen (Denmark) and TEGASA (Spain) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Nutreco (Netherlands), Kemin Industries Inc. (United States), Adisseo (France), Alltech (United States) and Palital Feed Additives B.V (Netherlands).
Segmentation Overview
AMA Research has segmented the market of Global Veterinary Feed Additives market by Type (Amino acids, Phosphates, Vitamins, Acidifiers, Carotenoids, Enzymes and Others), Application (Poultry, Ruminants, Swine, Aquatic animals, Household Pets and Other) and Region.
On the basis of geography, the market of Veterinary Feed Additives has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Europe region held largest market share in the year 2023. If we see Market by Form, the sub-segment i.e. Powder will boost the Veterinary Feed Additives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Sales Channel, the sub-segment i.e. Online will boost the Veterinary Feed Additives market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Product Enhancement in Terms of taste Preference and Customised Nutritional Pack and Clean Label Packaging Practices
Market Growth Drivers:
The rise in Demand and Consumption of Livestock-Based Products like Dairy, Meat, and Eggs and Growth in Demand Nutritional Feed Grade Diet for Pets and Livestock for Health and Wellness
Challenges:
Less Awareness about the Veterinary Feed Additives
Restraints:
Rising Cost of Extraction from Seeds, Tree Barks, And Plant Leaves
Opportunities:
Growing Demand for the Organic Feed Options for the Veterinary Purpose and Rising Investments of the Government and Private Research Institutions
Market Leaders and their expansionary development strategies
In January 2023, Global animal health and nutrition company Novus International, Inc., has acquired of biotech company Agrivida Inc. This move by Novus comes two years after it began a commercial partnership with Agrivida to support the sale of the start-up’s flagship product, GRAINZYME®.
In 2021, Kemin Industries launched a new product named KemTRACE Chromium-OR, an organic compliant chromium propionate feed ingredient for swine, cattle, broiler, and horse diets. KemTRACE Chromium-OR is a water-soluble, highly bioavailable, organic source of chromium that helps improve glucose utilization and reduce the negative impacts of stress for increased cellular energy and function.
According to EU Regulation 1831/2003, Those who seek approval for the products as livestock food additives must submit them to the European Food Safety Authority (EFSA) and shall be allocated to one or more of the categories, depending on its functions and properties from technological additives, sensory additives (changes the organoleptic properties of the feed), nutritional additives and zootechnical additives (enhancing the performance of animals in good health).
Key Target Audience
Veterinary Feed Additives Manufacturer, Provider/Distributor, Animal husbandry companies, Large-scale ranches and poultries, Raw Material Manufacturer, Research Institutes, End-User Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.