Growing Demand for Organic Meat Driving the Global Medicinal Feed Additives Market, Says Technavio

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LONDON–(BUSINESS WIRE)–According to the latest market study by Technavio,
the market size of the global medicinal feed additives market is
predicted to reach close to USD 5 billion in revenue by 2020.

This research report titled ‘Global
Medicinal Feed Additives Market 2016-2020
’ provides an in-depth
analysis of the market growth in terms of revenue and emerging market
trends. This market research report also includes up to date analysis
and forecasts for various market segments and geographical regions.

Request sample report:

“Awareness among consumers about health issues related to the intake of
meat has led to a rise in the demand for organic meat. Consumers are
willing to spend more on meat products that are produced using
innovative farming methods and high hygiene standards. The availability
of enhanced additives in the market is therefore driving the demand for
organic meat, thereby increasing the demand for animal feed that is
composed of essential nutrients,” said Chandrakumar, Technavio’s senior
industry analyst for bio-chemicals
and bio-materials
.

“Presently, The US accounts for the highest demand for organic meat in
the world. An increase in the use of medicinal additives in animal feed
ensures the supply of essential nutrients to animals, thereby increasing
their immunity and decreasing the chances of contraction of a virus,”
added Chandrakumar.

Technavio segments the global medicinal feed additives market by
livestock:

  • Pets
  • Ruminants
  • Swine
  • Poultry
  • Others

Pet segment: largest market for medicinal feed additives

Key findings of this market research study predict the global medicinal
feed additives market in the pets segment to reach USD 2 billion by
2020, growing at a CAGR of over 6%. The global medicinal feed additives
market in the pet segment is anticipated to grow at a rapid pace during
the forecast period owing to a rise in the demand for pet healthcare
among consumers. The FDA (food and drug administration) center of
veterinary medicines is currently setting up new standards for feed
contaminants, and it is likely to significantly boost consumer
confidence for administering such additives and feeds to pets. Many
medicinal feeds which are highly beneficial for pets are thus likely to
be introduced into the market over the next four years.

Swine segment of the global medicinal feeds additives market

Some of the additives used in swine feed include anti-parasitic
compounds, antibacterial agents, probiotics or prebiotics metabolic
modifiers, acidifiers, enzymes, and botanicals. Antibacterial metabolic
modifiers and anti-parasitic agents are the most commonly used additives
in swine feed.

In terms of market size, the global medicinal feed additives market in
the swine segment was valued at more than USD 632 million in 2015. This
segment is likely to grow at a moderate pace during the forecast period
owing to the steady demand for high-quality pork, especially from
Europe. As farmers look to fulfill the rising demand for pork, the use
of medicinal feed additives in the feed mix has become imperative for
the growth and production of healthy swine.

Global medicinal feed additives market in others segment

The medicinal feed additives market in aquaculture constitutes a
significant share of the others segment of the global medicinal
additives market and is predicted to witness moderate growth during the
forecast period.

The fish
segment in China
is the largest consumer of this market in the
world and is growing rapidly because of a rise in per capita consumption
in the country. The emerging middle-class population in China has
substantially intensified the demand for seafood, resulting in the
growing domestic additives and feed market for aquaculture. Growing
demand from the global aquaculture market is also expected to result in
an encouraging prospect for feed manufacturers during the forecast
period.

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About Technavio

Technavio
is a leading global technology research and advisory company. The
company develops over 2000 pieces of research every year, covering more
than 500 technologies across 80 countries. Technavio has about 300
analysts globally who specialize in customized consulting and business
research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research
techniques to ascertain the size and vendor landscape in a range of
markets. Analysts obtain information using a combination of bottom-up
and top-down approaches, besides using in-house market modeling tools
and proprietary databases. They corroborate this data with the data
obtained from various market participants and stakeholders across the
value chain, including vendors, service providers, distributors,
re-sellers, and end-users.

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