Feed supplements are used to improve the properties of the nutrition and food given to farm animals. On the whole, the supplements have the ability boost animals’ digestion, the palatability among many other things. Feed supplements or feed additives as they are called sometimes are gaining popularity worldwide due to the fact that they are proven to develop the general health of farm animals.
If we take poultry as an example, the use of feed additives has shown to increase their egg-laying capacity. Feed additives also help in better utilization of animal feed and keep diseases at bay. In the same way, a swine diet of feed supplements that carries a variety of natural as well as simulated additives, including acidifiers, high amounts of copper, zinc, and phytase will help in augmenting the health and gainfulness of the feed.
It is estimated that by the year 2021, the world animal feed supplements industry will acquire over $32.1 billion. Over the projected period 2016 to 2021, animal feed supplement industry is set to register a 5.8% CAGR. Some of the biggest elements that are contributing in the growth of the feed additives market are – the industrialization of meat products, increase in the consumption of meat products worldwide and the heightened awareness of these products’ quality.
Increasing raw material costs are likely to restrict the market growth, as the majority of additives, such as feed acids, antioxidants, and vitamins, are extracted from natural sources encompassing seeds, tree barks, leaves, etc.
Most feed additive, such as feed acids, antioxidants, and vitamins, are sourced naturally from seeds, barks of trees, tree leaves, etc, and for this reason, the world is witnessing a steady rise in the costs of their raw materials. The increasing costs are expected to hamper the market growth of feed additives. Although a market slowdown is likely, the Asia-Pacific countries are set to provide profitable growth chances, up till the year 2021.
The reasons for this are the substantial boost in feed manufacturing in specifically, India and China and people’s growing knowledge about the quality of meat and dairy products. Animal feed supplements manufacturers and veterinary medicine manufacturer of India are some of the biggest drivers of this change.