Medical Feed Additives Market Forecast 2023-2027 By The Business Research Company
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s medical feed additives market report forecasts the medical feed additives market size to grow to $20.75 Billion by 2027, with a CAGR (compound annual growth rate) of more than 7%.
Learn More On The Medical Feed Additives Market Report 2023 – https://www.thebusinessresearchcompany.com/report/medical-feed-additives-global-market-report
Medical Feed Additives Market Size Forecast
The global medical feed additives market is expected to grow from $14.38 billion in 2022 to $15.6 billion in 2023 at a compound annual growth rate (CAGR) of 8.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global medical feed additives market size is expected to grow to $20.75 billion in 2027 at a CAGR of 7.4%.
North America held the largest medical feed additives market share.
Key Medical Feed Additives Market Driver – Increase In The Prevalence Of Diseases Among Animals
According to estimates from a report by the Animal and Plant Health Agency, a total of 3289 new TB herd incidents were detected in England. A new herd incident is a case of bovine TB that occurs as a result of a herd or individual animal test performed in an officially TB-free (OTF) herd during the study period. Bovine tuberculosis is a chronic disease that usually affects animals such as cattle, but it can affect all mammals, causing illness, coughing, and eventual death. Moreover, according to the reports, the herd incidence rate in England for the 12 months to September 2020 was 9.4. The additives help prevent animals from diseases alongside increasing the nutrition level of the feed, thereby increasing demand for feed additives.
Request for A Sample Of The Global Medical Feed Additives Market Report:
Key Medical Feed Additives Market Trend – Introducing New Feed Medicated Additives
Companies in the medical feed additives market are introducing new feed medicated additives formed as a result of a combination of two or more medicated feed additives. More than 70% of manufacturers are now using more than one feed additive in animal feed to increase the efficiency of the product. For instance, Zoetis, a global health company, got approval for its Cyden and Lincomix combination feed additive from the FDA (Food and Drug Administration) and it is proposed to be used as a medicated feed additive for poultry. Also, the FDA-approved combination of Zoetis’ feed additives ACTOGAIN 45 (ractopamine hydrochloride) and ENGINE (ractopamine hydrochloride) produces more lean muscle and less fat while optimising feed efficiency.
Medical Feed Additives Market Segment
1) By Type: Antioxidants, Antibiotics, Probiotics And Prebiotics, Enzymes, Amino Acids
2) By Livestock: Ruminants, Poultry, Swine, Aquaculture
3) By Mixture Type: Supplements, Concentrates, Premix Feeds, Base Mixes
4) By Class type: Type A, Type B, Type C
Medical Feed Additives Market Major Players and Strategies
Major players in the medical feed additives market are Zoetis Inc., Cargill, Incorporated, CHS Inc., Purina Animal Nutrition, Archer Daniels Midland Company, Adisseo France Sas, Alltech Inc., Hipro Animal Nutrition, BASF SE, Biostadt India Limited.
In June 2022, Cargill, Inc., a US-based food and agriculture company, acquired DelaconBiotechnik GmbH for an undisclosed amount. The acquisition combines Delacon’s innovative know-how and market experience with Cargill’s extensive global network and deep expertise in animal nutrition technologies. Phytogenic feed additives are a category that utilizes a variety of herbs, plants, and their extracts, such as essential oils, to enhance livestock and aquaculture performance, promote animal health, and enhance Cargill’s feed additive research capabilities. DelaconBiotechnik GmbH is an Austria-based feed additive company pioneering in plant-based phytogenic additives to improve livestock and aquaculture performance and promote animal health.
The Medical Feed Additives Global Market Report 2023 covers regional data on medical feed additives market size, medical feed additives market trends and drivers, opportunities, strategies, and medical feed additives market competitor analysis. The countries covered in the medical feed additives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Medical feed additives are various types of products used in animal nutrition to improve the nutritional content and quality of feed, or to improve the health and performance of animals. They help improve the nutritional content and quality of feed, resulting in higher productivity and disease prevention.
View More Reports Related To The Medical Feed Additives Market –
Nutritional Feed Additives Global Market Report 2023
Aquafeed Additives Global Market Report 2023
Cattle Feed And Feed Additives Global Market Report 2023
Follow us on:
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
Found this article helpful? Share it on: