Outlook of the global medicinal feed additives market
Technavio’s market research analyst predicts the global medicinal feed additives market to grow at a CAGR of approximately 5% by 2020. The growing demand for organic meat is the key driver for this market. The augmented utilization of feed additives will help to improve animal growth and ensure feed efficiency. The ability of medicinal feed additives to increase immunity in animals and prevent the spread of infectious diseases will lead to its increased usage during the forecast period.
The high prevalence of zoonotic diseases is the key driver for this market. Zoonotic diseases are highly contagious and can be transmitted directly or indirectly between animals and humans. They normally spread by the consumption of infected meat products or contact with infected animals. Consequently, the demand for medicinal feed additives is increasing as it helps to prevent epizootic diseases and parasitism. These additives also provide genetic enhancements and contribute to improving the overall nutritional content in the animal feed.
Product-based segmentation of the medicinal feed additives market
- Amino acids
- Antibiotics
- Vitamins
- Antioxidants
- Feed enzymes
The amino acids segment dominated this market in 2015 and accounted for a market share of approximately 27%. Amino acids are essential for animals as they help in the overall development of the immune system and organs in animals. Lysine, methionine, threonine, and tryptophan are the main types of amino acids that are used in feed additives.
Segmentation by livestock and analysis of the medicinal feed additives market
- Pets
- Ruminants
- Swine
- Poultry
In 2015, the pet segment accounted for the largest market share of 40% and is envisaged to further enhance its hold over the market by 2020 owing to the rising demand for pet healthcare products among the consumers. With an increase in the disposable income, pet owners are spending more money on pet care and treatments at various pet care clinics. This increased level of spending will, in turn, aggrandize the demand for medicinal feed additives in the pet segment.
Competitive landscape and key vendors
The global medicinal feed additives market is highly fragmented as it is comprised of numerous large- and small-scale suppliers. The regional players in this market typically focus on animal nutrition products for a specific range of species. Since the leading players in this market have a strong foothold in developed economies, the small-scale players will face challenges from larger corporations, not only in terms of innovative technologies but also in terms of meeting manufacturing compliances.
Leading vendors in the market are -
- Bayer
- BASF
- Cargill
- Evonik
- Merck
- Zoetis
Other prominent vendors in this market include Adisseo, Aliphos, Champrix, Charoen Pokphand, Eli Lilly (Elanco), NuWest Milling, Purina Animal Nutrition, Wuhan Pharma Chemical, and Westway Feed Products.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global medicinal feed additives market?
- What are the key market trends impacting the growth of the global medicinal feed additives market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global medicinal feed additives market?
- Trending factors influencing the market shares of APAC, EMEA, North America, and Latin America.
- What are the key outcomes of the five forces analysis of the global medicinal feed additives market?
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