Veterinary Feed Additives Market Size, Share, Growth, And Industry Analysis, By Type (Minerals, Amino Acids, Vitamins, Enzymes, and Others), By Application (Cattle Feeds, Sheep Feeds, Swine Feeds, and Other Feeds), Regional Forecast To 2032

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VETERINARY FEED ADDITIVES MARKET REPORT OVERVIEW

Global Veterinary Feed Additives Market size was USD 18.9 Billion in 2023 and market is projected to touch 24.03 Billion by 2032, exhibiting a CAGR of 2.7% during the forecast period.

The European Commission defines nutritional additives as products used in animal nutrition, for example to improve the quality of feed and animal food (eg meat, milk, eggs, fish) or to improve performance and health. for animals (eg increasing the digestibility of feed materials). Nutrient materials and premixes do not belong to this group.

When using feed additives when feeding animals, the most important thing is to use the right feed additive at the right time and in the right amount and follow the legal procedures. In addition to feed ingredients and premixes, feed additives added in the right amount and for the right purpose offer many benefits to livestock farmers. Some of the benefits are Improves the quality of feed or animal products, Increases the level of animal production and animal well-being, improves digestion and the microflora of the gastrointestinal tract, Increases the amount of nutrients in food, helps preserve nutrients and nutrients, reduces the environmental damage of animal husbandry.

COVID-19 IMPACT

"pandemic hindered market supply chain owing to the"

The COVID-19 epidemic had a major impact and shaped the standards of the meat industry. The increase in animal-related diseases is curbing the demand for meat due to the growing health needs of customers. This has also led to a shift in consumer preferences towards plant-based proteins, further hampering veterinary feed additives market growth. In addition, due to disruptions in the supply chain in the meat industry, a sharp increase in the price of meat, especially beef and pork, is noticeable, which causes price changes in the meat market and slows down meat consumption.

LATEST TRENDS

"Growing consumption of dairy products to elevate market growth"

Over the course of the projection period, the industry's expansion is anticipated to be driven by rising consumption of dairy products due to their numerous applications and associated health benefits. Because cattle are the primary source of dairy products including milk, cream, butter, yoghurt, and cheese, among others, there has been a dramatic rise in cattle farming in many different regions. In the upcoming years, this is probably going to increase product demand. It is projected that the overall veterinary feed additives market expansion will be hampered by the strict regulations set by the regulatory organizations regarding the usage of feed additives. Players who are focused on marketing and selling additives throughout the EU are needed to use, control techniques, and data proving the product's safety & efficacy, which is predicted to further augment veterinary feed additives market growth.

VETERINARY FEED ADDITIVES MARKET SEGMENTATION

By Type Analysis

According to type, the market can be segmented into minerals, amino acids, vitamins, enzymes, and others.

By Application Analysis

Based on application, the market can be divided into cattle feeds, sheep feeds, swine feeds, and other feeds.

DRIVING FACTORS

"Focus towards animal health and performance to flourish market growth"

Various additives are offered to cattle, such as sensory additives, nutritional additives, breeding agents and coccidiostats and tissue monostats. Sensory supplements help stimulate animals' appetites, allowing them to eat more, while nutritional supplements provide specific nutrients for malnourished animals. Animal technology additives are added to feed to improve animal health and performance, and coccidiostats and histomonostatics are antibiotics used to prevent the growth of bacteria and microbes in feed. Strict rules of the European Commission prohibited the use of coccidiostats and histomonostats, replacing them with probiotic alternatives. Regulation (EC) No. 1831/2003 of the European Parliament and of the Council on additives used in animal nutrition, coccidiostat was banned on December 31, 2012. This has led to various development projects aimed at finding natural alternatives to coccidiostats in histomonodial and coccidial drugs to help control Eimeria infections. Some recent discoveries include the use of vaccines and other alternatives such as sulfonamide, nicarbazine, and amprolium. Attenuated vaccines such as Coccivac, Advent, Immucox and Inovocox and attenuated vaccines such as Paracox and HatchPak CocciIII are widely used. Consumption of livestock such as poultry, pigs and cattle increases as it forms a protein-rich diet. This is expected to boost the growth of the global veterinary feed additives market in the near future. More and more food additives are used to supplement the nutrients needed for metabolism, which allows the animal to gain weight and prevents consumers from diseases such as bird flu and swine flu. This in turn is a driving factor for the growth of the global nutritional additives market.

"Growth in demand and consumption of livestock products to boost its consumption"

Growth in demand and consumption of livestock products such as milk and milk-based products, meat and eggs is expected to increase the use of feed additives in feed and farm animal development. Poultry is the main driver of growth in total meat production due to high demand, low production costs and lower product prices in both developed and developing countries. Additionally, as awareness of the role and dynamics of nutrients, especially protein, in overall physical and mental growth and development has increased, there is a trend towards animal proteins, whether meat,

RESTRAINING FACTORS

"Prohibition of antibiotics in various countries to hinder market growth"

The rise in the price of raw materials is a big challenge for food producers all over the world.

Forage acids, antioxidants and vitamins are extracted from natural sources such as seeds, bark and plant leaves. Rising cost of extraction from these sources along with stringent regulations on biomaterials and sewage treatment are limiting the growth of the nutritional additives market. Food availability has become a critical issue for the industry. With world population growth and the subsequent increase in demand for food, industry is under great pressure to obtain raw materials such as corn, wheat and barley.

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VETERINARY FEED ADDITIVES MARKET REGIONAL INSIGHTS

"Asia Pacific to dominate the market owing to the abundant presence of agricultural economies "

This is due to the abundant presence of cattle and the existence of various agricultural economies. Key players are likely to develop their poultry feed portfolio as consumers' meat consumption habits change. The European market is based on innovation and regulates from the point of view of human health and well-being and the environment. This results in regular changes to product guidelines such as bans and restrictions. During the forecast period, the region's free trade agreements with European Union countries will have a positive impact on output growth. The Spanish pig industry is growing significantly due to lower product prices, reduced pig farming costs due to increased efficiency and increased Spanish pig exports. Increase in pig population in various regions of the country is increasing the demand for feed in the pig / pork industry, which is expected to accelerate veterinary feed additives market growth.

Growing consumption of meat in North America, mainly in the US, and strict regulations on meat quality are expected to remain the main drivers of the market. The strong presence of factories and the pet industry increases the demand for the products. Growing health awareness among consumers, along with the country's increasing per capita meat consumption, will further support the industry's expansion. Additionally, availability of abundant raw materials such as corn and dextrose is expected to influence the market during the forecast period.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

List of Top Veterinary Feed Additives Companies

• Evonik
• DuPont
• DSM
• Adisseo
• BASF
• ADM
• Nutreco
• Charoen Pokphand Group
• Cargill
• Sumitomo
• Chemical
• Kemin Industries
• Biomin
• Alltech
• Addcon
• Bio Agri Mix

REPORT COVERAGE

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.