Feed supplements are fillers to a deficit in protein, minerals, vitamins, fatty acids, amino acids, and other nutritional elements in the livestock feed. rising concern for animal health and Increasing awareness of animal nutrition is driving the market of feed supplements. Growing population in emerging nations has increased the demand for production of swine, poultry, aquaculture, and other forms of livestock used for consumption has created a vast scope of growth opportunities for feed supplements market.
According to the new report by Market Research Future (MRFR), the global feed supplements market is expected to grow remarkably over the forecast period, at a striking CAGR and acquire a significant valuation.
The surge in the consumption of meat and meat products is driving the market growth of feed supplements. Furthermore, governments across the globe are establishing regulations to regulate meat products to take precautions for consumers from the epidemic of livestock diseases, which is driving the growth of feed supplements market.
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Some of the key market players identified by MRFR in the global market for feed supplements are
- LEO BIO-CARE PVT. LTD (India),
- Archer Daniels Midland Company (U.S.),
- Land O’Lakes, Inc. (U.S.),
- Cargill, Incorporated (U.S.),
- BASF SE (Germany),
- Grain Corp Ltd. (Australia),
- Dallas Keith Ltd (U.K.)
The global feed supplements market is segmented into North America, Asia Pacific, Europe, and Rest of the world (RoW).
The Asia Pacific is leading the feed supplement market followed by North America and is anticipated to account for the largest regional market share over the review period. In the Asia Pacific, emerging economies such as China and India are the major contributors towards the meat industry, which sequentially contributed to the market of feed supplements in this region over the review period. Furthermore, the increasing population in these countries, followed by the growing consumption of livestock in developing countries of Asia Pacific is advancing the feed supplement market over the review period.
In North America, the developed countries such as the U.S. and Canada are leading the feed supplements market due to the favourable government regulations that have been imposed. Furthermore, the increasing demand for swine and poultry products in Europe will is expected to fuel the feed supplement market in Europe, while Brazil and the Middle East regions are also expected to witness substantial growth owing to an upsurge in demand for protein intake from the application sectors of swine and poultry.
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Feed supplements market is segmented by types comprising of protein, amino acid, minerals, vitamins, fatty acids, and others. Among these, the amino acid is leading the market, followed by vitamins. An amino acid comprises lysine, which is usually used in swine and poultry feed applications. While vitamin segment is proliferating due to the increasing prevalence of vitamin deficiency often found in livestock.
Based on the form, the feed supplements market is segmented into liquid, dry, and others. The dry form of feed supplement is leading the market over the forecast period. On the other hand, the liquid feed supplement is observing relatively higher growth over the forecast period.
Based on the livestock, feed supplements are segmented into aquaculture, poultry, ruminants, swine, and others. Among these, ruminates is leading the market through augmented consumption of meat and meat products across the globe. Moreover, the poultry segment is expected to observe steady growth over the forecast period owing to the expansion of the poultry industry.
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