MEDICATED FEED ADDITIVES MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Medicated Feed Additives Market Analysis:

Market Analysis of Medicated Feed Additives

During the forecast period of 2022–2027, the medicated feed additives market is expected to register a Compound Annual Growth Rate (CAGR) of 5.5%.

The global pandemic caused by COVID-19 had a negative impact on the market in 2020. The pandemic disrupted the proper functioning of various industries in different regions, affecting customs clearances, export permits, import permits, and phytosanitary certificates. This was primarily due to reduced staffing of government offices, which delayed the consignments meant for trade and reduced the availability of several medicated feed additive products to farmers. The suppressed demand from food joints and increased transaction costs are expected to have a knock-on effect that will push the cost of medicated feed additives production up across the world during the forecast period.

Over the medium term, the rising incidence of zoonotic and foodborne diseases, which have high chances of being naturally transmitted from animals to humans, has led to the increasing usage of key feed additives that can minimize the occurrence of such diseases in farm animals. Medicated feed additives improve the quality and nutritional content of the feed. These additives help in the growth and development of animals and increase feed intake. An increase in the awareness of high-quality meat, which is rich in nutrients, has resulted in an increase in the usage of medicated feed additives.

The increase in health awareness in the Asia-Pacific region has led to a surge in demand for plant and animal proteins. However, recent epidemic outbreaks have made meat quality a critical issue, especially in regions like Europe and North America. The increase in applications of animal protein in the region has exerted massive pressure on livestock farmers, who are gradually shifting to various scientific methods of farming.

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