Feed supplements are added to livestock food formulation to increase the nutritional content in the animal feed. The commonly added nutrients include proteins, vitamins, amino acid, fatty acids, minerals and others. They help to improve the feed quality, animal health and reduce the livestock diseases which further helps in quality of products derived from livestock. Growing livestock industry is driving the market for feed supplements.
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Feed supplements are a means to provide additional nutritious elements and improve the quality of livestock feed. Growing population in developing countries has increased the demand for production and consumption of poultry, swine, aquaculture and other livestock which is driving the market for feed supplements. Moreover, increasing awareness of animal nutrition and rising concern for animal health is boosting the feed supplements market.
Regional governments are forming regulations to standardize meat products to prevent consumers from the outbreak of livestock diseases which is adding fuel to the growth of feed supplements market. However, increase in the cost of raw materials may hamper the market of feed supplements. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 6.2% of feed supplements market during the forecast period 2017-2023.
Based on the type, feed supplements market is segmented into protein, vitamins, amino acid, fatty acids, minerals and others. Among all, amino acid is dominating the market followed by vitamins. Amino acid contain lysine which is commonly used in poultry and swine feed application. Whereas, vitamin segment is growing rapidly due to vitamin deficiency found in livestock commonly.
Feed supplements market is segmented on the basis of form such as dry, liquid and others. The dry form of feed supplement is dominating the market. However, the liquid feed supplement is projected to witness high growth over the forecast period.
On the basis of livestock, feed supplements are segmented into ruminants, poultry, swine, aquaculture and others. Among all, ruminates is dominating the market based on increased consumption of meat and meat products globally. However, poultry segment is witnessing steady growth over the forecast period owing to growth in poultry industry.
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Global Feed Supplements Market is segmented into North America, Europe, Asia Pacific and rest of the world (RoW). Asia Pacific is dominating the feed supplement market followed by North America. In Asia Pacific, rising population followed by increasing consumption of livestock in developing countries of Asia Pacific is boosting the feed supplement market. Moreover, China is the major exporter of meat which in turn grows the market of feed supplements in this region.
In North America, the U.S. is dominating the market owing to favorable government regulations imposed. Moreover, rising demand for poultry and swine products in Europe will boost the feed supplement market. Additionally, Brazil and Middle-East regions are witnessing growth owing to increase in demand of protein intake from swine and poultry applications.
Feed supplements market is segmented on the basis of type, form, livestock and region.
Some of the key players profiled in the global feed supplements market are BASF SE (Germany), Archer Daniels Midland Company (U.S.), Cargill, Incorporated (U.S.), Land O’Lakes, Inc. (U.S.), Grain Corp Ltd. (Australia), LEO BIO-CARE PVT. LTD (India), Dallas Keith Ltd (U.K.)