GLOBAL - The global animal feed additive market, valued at $14.9 billion in 2013, is estimated to reach $20 billion by 2020.
According to a new report from Big Market Research (BMR) the increase in global meat consumption is the major driving factor that has augmented the demand for animal feed and feed additives market.
The demand for low cost meat with superior nutritional value throughout the globe is the other driving factor in this market.
Animal feed additives add value to the animal life and the quality of their meat. Due to positive impacts that the additives have on the animals.
Asia Pacific and LAMEA (Latin America, Middle East and Africa) regions are greatly demanding meat products of better quality to cater to the demand within these regions. The various other factors driving the market are concerns over the meat quality and safety of meat products among the consumers following recent disease outbreaks has compelled meat producers to focus on the quality of feed provided to the animals.
The variations in regulations across the globe is having an unfavourable impact on worldwide meat market, particularly in developed and advance developing economies.
The livestock segment of the animal feed market is segmented into pork, seafood, cattle and poultry.
The Poultry segment is the highest revenue generating market among the segments. This is due to increase in demand in developing nations, which is the highest poultry meat producing region.
The leniency in the regulations for this market has also contributed to the increase in demand and has encouraged the multinational companies to invest in this market, thus making the market even more competitive.
The major limitation of this market is the differences in regulations among countries that have an adverse effect on the worldwide meat market, particularly in the developed and developing nations. The amplifying demand in the Asia pacific market for feed additives, which is due to the rising meat production and export is proving to be an opportunity for this market.
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