Feed additives are food supplements for farm animals, which satisfy the nutritional needs that aren’t met by regular meals.
They’re an indispensable part of the animal nutrient necessity. They improve feed quality, and hence, improve animal health and productivity. Increasing living standards and disposable income are raising meat and dairy product intake. Combined with this, the growing preference among livestock producers toward nutrition and quality is fueling the constant need for feed additives.
The most important kinds are vitamins, minerals, amino acids, antioxidants, fatty acids, medicines, and sweeteners & flavors. Vitamins and antioxidants enhance weaning and conception rates, immunity, and general health. Medications help livestock farmers to lower 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 strict 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 development of the worldwide feed additive market. Greater awareness about the nutrient content of meat and other dairy products among customers has encouraged livestock farmers to provide better nutrition to the farm animals. These factors have contributed to a steady rise of the market.
However, conventional feeding procedures, such as crop residue and grazing, still pose a danger to the feed additive market, owing to very low or zero costs related. Additional restraints include a ban on several different medications in many countries and strict regulations, in addition to volatility, in costs of raw materials. Case in point is that the EU Regulation 1831/2003, which claims 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:
– BASF SE
– 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 Oakland Wildlife Removal.
– Nutriad engaged in partnerships with Brazilian universities, with the intention to assess its product portfolio for tropical conditions.