Medicated Feed Market Size, Share & Industry Analysis, By Product Type (Antioxidants, Antibiotics, Probiotics & Prebiotics, Enzymes, Amino Acids ), By Form (Supplements, Concentrates, Premix Feeds, Base Mixes), Livestock Type (Poultry, Swine, Aquaculture, Other Livestock Types) And Regional Forecast, 2024-2032
KEY MARKET INSIGHTS
The medicated feed market is witnessing significant growth in the global marketplace due to the increase in meat and other poultry products. Medicated feed helps improve cattle feed efficiency and increase the weight of live stocks as it contains traces of vitamins, yeasts, enzymes, and other products. Furthermore, live stocks treated with medicated feed live for a longer period and have an extended shelf life. Thereby, such developments are expected to benefit the global medicated feed market.
Furthermore, the prevalence of zootonic diseases such as Avian flu, swine flu, and others has also prompted medicated feed to control the epidemic's outbreak in the population. Changes in the consumer lifestyle and the increasing demand for balanced diet consumption also act as major influence that is expected to boost the market.
Regulatory bodies such as Food and Drug Administration (FDA) and European Union (EU) test and approve the drugs used by the companies for the animals. They also ensure that the correct quantity of drugs and proper labels are provided on packaging bodies. These measures also help ensure animal safety, human safety, better product efficacy, and minimal environmental effect.
The increasing use of medicated feed creates highly resistant bacteria, which becomes difficult to combat using the medicated feed. This acts as one of the main factors that is expected to negatively affect the growth of the target market globally.
Key Market Driver -
Rising Preferences Towards Poultry and Dairy Products
Key Market Restraint -
Costly Approval Process
Key Players Covered:
The key players of global packaged nuts and seeds market are Zoetis Inc., Cargill, Archer Daniels Midland Company, CHS Inc., Purina Animal Nutrition (Land O’ Lakes), Adisseo France Sas, Alltech Inc. (Ridley), Biostadt India Limited, Zagro, Hipro Animal Nutrition, and others.
Medicated feed also helps to ensure better growth of animals by improving the metabolism of the animals. They are also helpful in controlling various diseases in animals and reducing the severity of the other types of disease such as diarrhoea, respiratory illness, and improving hatchability and production of eggs.
Changes in lifestyle of consumers and the increasing demand for meat and dairy products have prompted the producers to use various scientific methods to increase the yield of the animals and also ensure that proper quality of meat is generated.
High cost associated with the approval of the medicated feed acts as a major barrier for the manufacturers and acts as one of the main factors that is expected to affect the growth of medicated feed globally negatively.
Regional Analysis:
North America is witnessing significant growth in the medicated feed market due to consumers' increasing preferences towards consuming meat and dairy-based products. In the year 2018, the U.S. was the leading consumer as well as producer of meat products across the globe. The increasing demand for animal and dairy products among households is expected to drive its regional market.
Asia Pacific region is anticipated to witness substantial growth in the foreseeable future due to the increasing demand of meat-based products. In countries such as China and India, as there is an increase in disposable income, the demand for poultry and dairy-based products is on rise. The increasing health consciousness, especially among the younger cohort and the need for a balanced diet is also expected to boost the medicated feed in the region.
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Segmentation
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By Product Type |
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By Form |
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Livestock Type |
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By Geography |
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Key Industry Developments
- In May 2020, Byron Biochar launched a new product in the market known as biochar + frass. It is an ideal product that is used as a soil conditioner and fertilizer and is composed of 80% biochar and 20% frass.
- Ongoing
- 2023
- 2019-2022
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