Berry Extracts For Feed Global Market Outlook 2024-2033: Size And Growth Rate Analysis
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The berry extracts for feed market has experienced robust growth, expanding from $6.06 billion in 2023 to $6.47 billion in 2024, with a compound annual growth rate (CAGR) of 6.8%. This growth is attributed to several key factors:
- Increasing Feed Quality: Industry focus on enhancing feed quality and nutritional value.
- Exploration of Natural Ingredients: Growing interest in natural feed ingredients to improve animal health.
- Shift towards Sustainability: Emphasis on sustainable farming practices drives the adoption of natural feed additives.
- Focus on Functional Feed Additives: Rising demand for functional additives to optimize animal health and productivity.
Prospects for Future Growth
The berry extracts for feed market is expected to continue its upward trajectory, reaching $8.53 billion by 2028, with a CAGR of 7.1%. Key drivers of growth in the forecast period include:
- Expansion in Livestock and Poultry Industries: Growth in the livestock and poultry sectors fuels demand for quality feed additives.
- Research Advancements in Animal Nutrition: Ongoing research efforts drive innovation in animal nutrition, leading to the development of effective feed supplements.
- Regulatory Support: Regulatory support for nutritional supplements and functional additives fosters market growth.
- Consumer Preference: Increasing consumer preference for natural and functional feed additives propels market expansion.
- Focus on Animal Welfare: Growing awareness of animal welfare issues drives demand for health-promoting feed ingredients.
Emerging Trends in the Forecast Period
Several trends are expected to shape the berry extracts for feed market in the forecast period:
- Natural Feed Additives: Market shifts towards natural alternatives to synthetic additives drive demand for berry extracts.
- Health and Nutritional Benefits: Consumers seek feed additives with proven health and nutritional benefits for animals.
- Antioxidant-Rich Supplements: Berry extracts rich in antioxidants gain traction due to their health-promoting properties.
- Performance Enhancement: Growing emphasis on performance optimization in livestock drives the adoption of effective feed supplements.
Increasing Preference Drives Berry Extracts For Feed Market
The rising preference for animal-based protein fuels growth in the berry extracts for feed market:
- Animal-Based Protein: Increasing demand for animal protein drives the need for high-quality feed additives.
- Global Consumption Trends: Reports indicate rising per capita consumption of fish and other animal-based proteins.
- Market Implications: The preference for animal-based protein underscores the importance of quality feed additives in animal nutrition.
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Solid Gold Introduces Advanced Berry Extract Supplements For Feed Market
Product innovation emerges as a key trend in the berry extracts for feed market:
- Solid Gold’s Innovations: Solid Gold introduces advanced berry extract supplements to meet evolving consumer needs.
- Product Features: Leaps & Hounds and Grass Guardian supplements offer tailored solutions for pet health and well-being.
- Market Impact: Product innovations contribute to market growth by addressing consumer demand for quality feed additives.
Kerry Group Enhances Portfolio With Acquisition Of Biosearch Life
Strategic acquisitions drive market expansion and innovation in the berry extracts for feed sector:
- Kerry Group’s Expansion: Acquisition of Biosearch Life strengthens Kerry Group’s position in the market.
- Portfolio Diversification: Addition of new branded technologies expands Kerry Group’s offerings in the feed market.
- Sustainability Focus: Acquisition contributes to Kerry Group’s commitment to sustainable nutrition solutions.
Segmentation Insights
The berry extracts for feed market is segmented based on:
- Form: Liquid, Powder, Pills
- Source: Natural, Synthetic
- Application: Pharmaceutical, Food And Beverage, Nutraceutical
Regional Dynamics
Asia-Pacific emerges as the largest region in the berry extracts for feed market in 2023, reflecting the region’s growing livestock and poultry industries.
In conclusion, the berry extracts for feed market presents promising growth opportunities driven by evolving consumer preferences, technological innovation, and regulatory support. As companies continue to innovate and expand their product portfolios, the market is poised for sustained growth and development, catering to the evolving needs of the global feed industry.
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