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Estimates claim that there has been a subsequent surge in the demand for meat and meat products at a global level. In fact, statistical reports state that the global average meat consumption has surged to 41.90 kg per person per year, which is majorly driven by the poultry demand. As animal feed additives play a vital role in poultry diets to improve the overall integrity of lower gastrointestinal track of the livestock, the rising meat consumption is in turn working in the favor of expanding business scenarios. In fact, industry experts anticipate the animal feed additives market from the poultry application to generate a remarkable valuation of over USD 10 billion by 2024.
Speaking of the growing demand for nutritional additives from the poultry application, China is one of the most lucrative growth grounds for animal feed additives industry expansion. High livestock production and extensive animal breeding in the region has been identified as the two crucial factors fortifying the regional animal feed additives market demand. The increasing meat consumption in China has, in turn, prompted the regional industry players to incorporate additives for maintaining the quality of meat. According to reports, the meat consumption in China exceeded 50 kilo tons in 2016 and is further anticipated to surpass 60 kilo tons by 2024. With other countries, such as India, Malaysia, Thailand, and Indonesia following similar growth patterns with regard to massive livestock production, the animal feed additives market, across the Asia Pacific belt, is certain to account for above-average growth. It has been reported that in the year 2016, Asia Pacific witnessed highest feed production capacity, surpassing 350 million tons.
Browse key industry insights spread across 1855 pages with 3451 market data tables & 50 figures & charts from the report, “Animal Feed Additives Market” in detail along with the table of contents:
It would be prudent to mention that the growing consumer demand across these continents have expanded the scope for animal feed additives market participants and have encouraged them to expand their global reach. According to research study, new product launches and M&As have been the most adopted strategy by the animal feed additives industry players. For instance, in a bid to strengthen its position in the global animal feed additives market, Coppens International recently unveiled its product breakthrough for aquatic feed additives. Elaborating further on this move, the company introduced several new algae products that replaced the use of fish oil and inorganic trace minerals in the additives. The new product range introduced by the company in the regional animal feed additives market comprised ForPlus, Bio-Mos, Bioplex, and Actigen, which are designed to strengthen gut integrity, promote good bacteria, and optimize overall fish health.
Taking into account the aforementioned trends, it is quite overt that the animal feed additives industry dynamics are majorly influenced by the rising meat consumption leading to further rise in livestock production. Moreover, given the changing food habits, it wouldn’t be wrong to say that animal feed additives market size surge has been synonymous to growing appetite for protein rich food. However, this is not the only reason that is promoting the use of additives in animal feed. Industry experts also illustrates the growing concerns of disease outbreaks in livestock to be a crucial factor for incorporating additives in animal fodder. Bird flu, animal foot & mouth infections, and swine flu are some of the popular plagues that have taken the world by storm in past decade. In this scenario, proper care of animal health, while incorporating nutrition & antibiotics in animal feed, has been prevalent worldwide, in turn impacting animal healthcare market. Given the pivotal role that these additives play in boosting animal health and eliminating the toxic effect, the expansion of animal feed additives industry has been quite imperative. Indeed, there is satisfactory data that supports the growing animal feed additives market share, which according to reports, is claimed to attain a global valuation of USD 25 billion by 2024.
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