- High capital Investments in aquaculture for vast demand of protein-rich produce indirectly creates opportunities.
- Volatile raw material supply chains, price instability due to climatic, geo-political reasons could hamper growth.
ALBANY, N.Y., April 21, 2021 /PRNewswire/ -- The close association between livestock feed and the quality of meat and byproducts produced, mainly for human consumption makes them regulated by food inspection authorities, for example the FDA. In fact, for optimum health of livestock, they require certain balance of minerals, water, vitamins, and protein. However, in order to obtain the best results of nutrients fed to animals, feed additives are used. Feed additives act by improving digestion by degrading walls of plant cells using enzymes from fungal fermentation. Hence, it can be said, feed additives are a simple way for livestock farmers to provide balanced daily nutrition to the livestock. Thus, it can be concluded, feed additives are a way to invest in the wellbeing of livestock, and at the same time enhance their nutritional intake.
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Broadly, animal feed additives are categorized into nutritional additives, antibiotic additives, sensory additives, and zootechnical additives. The animal feed additives are further divided in antibiotics, antioxidants, minerals, amino acids, enzymes, acidifiers, vitamins, and binders.
Animal feed additives work in other ways too. As the entire food industry plans to move toward efficiency, food manufacturing companies are keen on devising safe and sustainable food production from animal-derived food too. This has sought the attention of small and big food manufacturing companies, including R&D for animal food additives, to translate into promising growth for the animal feed additives market in the years ahead. Taking a cue from this, the animal feed additives market is projected to touch a valuation of US$18 bn by 2029.
Animal Feed Additives Market ? Key Findings of the Report
High Investments in Aquaculture for Ever-rising demand for Protein-rich foods favors Growth
Fish is consumed by nearly 4.5 billion people worldwide to serve an average 15% of the protein requirement. Fish farming is favorable for low carbon footprint, high per unit production, and unique fat and protein content, which has attracted both fish cultivators and consumers. According to published data, Asia Pacific is estimated to account for 90% fish production to serve the global demand, of which a large chunk will be consumed within the region itself. This makes Asia Pacific hub for aquaculture, with the region also accounting for leading revenue in the global aquaculture market. The animal additives market in the region gains, in return.
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Laborious Measures for Health of Livestock amidst Increasing Prevalence of Zoonotic Diseases underscores Growth
In the recent past, the high occurrence of zoonotic diseases has sought the attention of food inspection and safety authorities to lay down mandates for the health and well-being of animals and livestock raised for meat and poultry. For example, The European Food Safety Authority estimates 320,000 zoonotic and food-borne diseases to occur each year in EU countries. This has raised alerts among animal breeders and livestock farmers to undertake measures for health and well-being of their animals, including use of gut-friendly additives such as amino acids, probiotics, and phytogenic nutrients. The animal feed additives market is thus benefitted.
Price Instability, Volatile Supply Chains might Impede Growth
Volatile supply chains and price instability of raw materials are key concerns of manufacturers, as animal feed as well as animal feed additives are supplied on a contractual basis. However, climatic fluctuations, geo-political tensions, and interest rate volatility are some unforeseen risks that create obstacles for such contracts to materialize. This could hamper the growth of animal feed additives market.
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Animal Feed Additives Market ? Prominent Trend
Animal Feed Additives Market ?Key Players
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