Feed supplements are additives that are used in livestock food formulation to improve the nutritive value of animal feed. These additives include amino acids, fatty acids, vitamins, minerals and other nutrients. Market Research Future (MRFR) has published a new report stating that the global feed supplements market is marked to expand at a moderate growth rate during the forecast period of 2017-2023.
Market Drivers and Restraints:
Increasing demand for high quality meat by the consumers in the global market is inclining the farmers towards using feed supplements for the livestock. recent outbreak of animal-borne diseases such as swine flu, Lyme disease, chronic wasting disease and others is inducing high demand for improving the quality of feed to maintain good health of the animals. Increasing demand for feed supplements for improving the quality and quantity of meat and dairy products is propelling the growth of teh global feed supplements market.
Rapid expansion in poultry, aquaculture, ruminants and swine sector due to increasing consumer demand in developed and developing regions is inducing demand for feed supplements, resulting in the expansion of the global feed supplement market. Growing population in developed and developing regions is leading to increased demand for meat and meat products, which in turn is fueling teh growth of teh global feed supplement market.
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utilization of advanced production processes for manufacturing high quality feed supplements for livestock and increasing government support are aiding the growth of the global feed supplement market. However, fluctuations in the cost of raw materials are likely to act as restraint in teh growth of the global feed supplements market during teh assessment period.
Top Key players:
The major players profiled by MRFR that are operating in the global feed supplement market are BASF SE (Germany), Archer Daniels Midland Company (the U.S.), Cargill, Incorporated (the U.S.), Land O’Lakes, Inc. (the U.S.), Grain Corp Ltd. (Australia), LEO BIO-CARE PVT. LTD (India), Dallas Keith Ltd (the U.K.) and others.
The global feed supplements market has been segmented on the basis of type, form and livestock. Based on type, the feed supplement market has been segmented into proteins, amino acids, vitamins, fatty acids, minerals and others. The amino acid segment accounts for the major share in the global feed supplements market owing to its high utilization on swine and poultry feed application. The vitamin segment is anticipated to expand rapidly owing to the incresaing incidences of vitamin deficiency in teh livestock.
Based on form, the feed supplements market has been segmented into dry, liquid and others. The dry form segment is leading the global feed supplements market and liquid form segment is anticipated top project significant growth in the global feed supplements market during the forecast period. Based on livestock, the feed supplements market has been segmented into ruminants, poultry, aquaculture, swine and others. the ruminant segment is dominating teh global feed supplements market owing to the increasing demand for meat and meat products all over teh world.
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Geographically, the global feed supplements market has been segmented into four major regions such as Europe, Asia Pacific, North America and the rest of the world. The Asia Pacific region is leading the global feed supplements market owing to the rapidly expanding poultry, ruminants and other sectors due to the high demand for meat and dairy products from the rapidly increasing population in this region. incresaing consumption of meat and poultry products is fueling the growth of feed supplements market in the North America region. The feed supplement market in teh Europe region is majorly driven by the presence of huge consumer base for poultry and swine products.
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