Feed additives market revenue is likely to surpass US$ 49.6 Billion by 2026. The global market is expected to rise at a CAGR of 5.5% from 2021 to 2026. The growth in consumption of animal-based products, growth in feed production, standardization of meat products owing to disease outbreaks, and implementation of innovative animal husbandry practices to improve meat quality have led to the increased consumption of feed additives.
The European Commission
defines feed additives as, “products used in animal nutrition for the purpose
of improving the quality of feed and the quality of food from animal origin, or
to improve the animals’ performance and health, e.g. providing enhanced digestibility
of the feed materials. Feed additives may not be put on the market unless
authorization has been given, following a scientific evaluation demonstrating
that the additive has no harmful effects on human and animal health and on the
environment.”
Globally shift towards
natural growth promoters driving the demands for feed additives
Antimicrobial compounds are
commonly included in poultry diets for promoting growth and controlling
diseases. The European Union banned feed-grade antibiotic growth promoters,
owing to cross-resistance and due to the risk posed to the EU’s food safety and
public health. Due to this, feed manufacturers are adopting new forms of
natural feed additives apart from antibiotics with the help of new science.
This new generation of growth enhancers includes botanical additives such as
appropriate blends of herbs or plant extract. Herbs and plant extracts used as
feed additives include different bio-active ingredients. These natural growth
promoters predominantly include organic acids, probiotics, prebiotics, and so
on. In addition to this, growing demands of feed additives from developing
countries such as India, China, and Indonesia are also boosting the demand of
feed additives. However, the growth of the market is restricted due to the
stringent regulations in regions such as Europe and the price volatility of different
feed additives.
Some of the key companies in
feed additives market are ADM (US), Cargill (US), DSM (Netherlands), DuPont
(US), Evonik (Germany), and BASF (Germany) amongst others. These players are
actively investing into developments of novel feed additives ingredients
developments and thus developing newer feed additives based on them.
COVID
19 impact on Feed additives Market
The impact of COVID-19 on the
animal feed additives market directly corresponds to the condition of the
HoReCa segment across the globe. In the pessimistic scenario, the hotel and
tourism industry will continue to remain shut, and demand for meat and poultry
products witness a decline, which shall negatively impact the feed additives
market growth. Also, trade barriers between the countries may hinder export and
will result in a shortage and price rise for feed additives. In the optimistic
scenario, the COVID-19 wave is expected to subside, and the launch of effective
vaccines will enable governments to lift lockdown or relax the social
distancing norms. Declining mortality due to COVID-19 and immunization are some
of the factors encouraging consumers to enjoy away-from-home food, which shall
positively impact the market growth for the feed additives market.
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