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The Global feed additives market is forecasted to register a significant CAGR over the forecast period.
Growth in Compound Feed Industry
The global compound feed market revenue is estimated to grow at a CAGR of 1.6% over the period 20182023. The compound feed industry is mainly driven by factors like increasing meat consumption across the globe and growth in the processed meat industry due to increased income of middleclass population in developing countries. Demand for highquality compound feed from livestock industry due to increased industrial production of meat and dairy products has elicited the growth in consumption of the compound feed and feed additives. The raw materials used for compound feed production such as maize, barley, soybean are used for human consumption and production of ethanol. In this scenario, the feed industry competes with the food industry for raw materials. This condition has generated the demand for additives, which are cost effective and enhance production. The home mixers and large farm owners provide additives to the livestock to ensure a steady supply of highquality meat, dairy and derived products.
Regulatory issues are the biggest constraints in the compound feed industry. Animal feed production comes under feedstuff regulations in most countries. The regulatory framework is increasingly getting stringent, such as in 2006 in EU and in 2009 in United States, which banned the use of certain antibiotics as growth promoters in animals. Europe had imposed a ban on the use of animal proteins in aqua feed.
Many countries including China, Thailand and Vietnam that export fish to Europe and United States do not have such regulations against antibiotics or animal proteins usage in animals or feeds. Such disparities in regulations have adverse effects on the global fish and aqua feed trade, especially between developed and developing economies. Producers of feed and feed additives are required to follow strict regulations related to regional and national health and safety for their products approval in the developed nations. This ultimately affects the cost of the final products. Such regulatory initiatives are posing challenges for existing feed products and increasing the cost of new feeds development.
Key Developments in the Market:
January 2018: Federal Agriculture and AgriFood Minister announced that from Dec. 1, 2018, the overthecounter antibiotics will require a prescription from a veterinarian.
August 2017: Ingredion acquires Sun flour Industry Co Ltd, Thailand's rice and flour business
Major Players: BAYER HEALTHCARE AG, ELI LILLY AND CO., INGREDION INCORPORATED, BORREGARD, PFIZER INC. amongst others.
Reasons to Purchase this Report:
Provides latest insights into the Global Feed Additives Market.
Gives a detailed analysis of the competitive landscape in the animal feed additive industry segmented by additive type, animal type and by geography.
Analyses the market scenario with the help of Porter's Five Forces Analysis.
Forecasts the market volume and value by assessing the impact of the market drivers and constraints.
3 months analyst support along with the Market Estimate sheet in excel.
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