Medicated Feed Additives Market Growth 2023, Rising Trends, Global Industry Share, Revenue, Key Manufacturers, Business Opportunities and Forecast 2033: SPER Market Research

Any feed that contains one or more medications that promote the health and productivity of animals is referred to as having medicinal feed additives. Medicated feed additives are given to animals for a number of reasons, including nutrition, medicine, worm control, bacterial illness management, coccidiosis prevention, and mortality reduction.

According to SPER market research, ‘Medicated Feed Additives Market Size– By Source, By Mixture Type, By Type, By Livestock- Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Global Medicated Feed Additives Market is predicted to reach USD 22.82 billion by 2033 with a CAGR of 5.41%.

The global market for medicated feed additives is growing for a number of reasons, including the increased demand for animal protein. Because of the expanding global population and rising levels of economic development, there is a greater demand for animal protein. The need for medicated feed additives, which can help improve animal health and output, has increased as a result of this.  Numerous animal diseases, including swine flu, avian influenza, and foot-and-mouth disease, have become more common in recent years. Medicated feed additives are more popular since they can help with the prevention and treatment of some diseases. The demand for products that enhance animal health is rising as a result of consumers’ growing concern for the welfare and health of animals. The ability of medicated feed additives to improve cattle health has led to increased investment in the local industry, driving up the growth of the global market.

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The global market for medicated feed additives has a number of challenges, including regulatory limitations. Several government agencies have regulations governing the use of medicated feed additives, which may place limitations on their use. Farmers might be reluctant to use products that must pass regulatory inspection, which could reduce the market for medicated feed additives. Abuse of antibiotics in animal feed has led to the development of antibiotic-resistant bacteria, endangering human health. Due to increased scrutiny over the use of antibiotics in animal feed, the market for medicated feed additives containing antibiotics has been constrained. The high cost of medicated feed additives restricts their adoption in several areas. Small farmers who might not be able to pay it will find this particularly challenging.

Impact of COVID-19 on Global Medicated Feed Additives Market 

Additionally, the market was negatively impacted by COVID-19. It has been established that the worldwide pandemic has an effect on how successfully various industries operate in different places. Export and import licences, phytosanitary certifications, and customs clearances were all impacted. This was principally brought on by a reduction in government workers, which delayed trade shipments and restricted farmers’ access to certain medicated feed additives. The global cost of producing medicated feed additives is anticipated to increase throughout the projection period as a result of declining fast food restaurant demand and rising transaction expenses.

Medicated Feed Additives Market Key Players:

Geographically, the market for medicated feed additives is predicted to develop at the quickest rate during the forecast period in Asia-Pacific, where it currently holds the greatest market share. Rising demand for premium meat products, effective government initiatives, and key companies concentrating on R&D to create goods that adhere to European requirements for medicated feed additives will all enhance the market in the APAC region. Additionally, some of the market key players are Ajinomoto, BASF, DSM, Evonik, Global Nutrition International, NUQO Feed Additives, Novus International, Nutreco, Novozymes, Others.