Number of pages: 100 | Report Format: PDF | Published date: May 31, 2023
Historical Years – 2021 | Base Year – 2022 | Forecasted Years – 2023 to 2031
Report Attribute |
Details |
Market Size Value in 2022 |
US$ 12.73 billion |
Revenue Forecast in 2031 |
US$ 19.93 billion |
CAGR |
5.10% |
Base Year for Estimation |
2022 |
Forecast Period |
2023 to 2031 |
Historical Year |
2021 |
Segments Covered |
Animal Type, Type, Mixture Type, and Region |
Regional Scope |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
According to the deep-dive market assessment study by Growth Plus Reports, the medicated feed additives market was valued at US$ 12.73 billion in 2022 and is expected to register a revenue CAGR of 5.10% to reach US$ 19.93 billion by 2031.
Medicated Feed Additives Market Fundamentals
Medicated feed additives (MFAs) are substances that are added to animal feed to provide specific therapeutic or preventive benefits. These additives typically contain medications or drugs that are intended to improve the health and well-being of animals. Antioxidants, antibiotics, probiotics, prebiotics, enzymes, and amino acids are the main categories of feed additives used in medical applications. Supplements, concentrates, pre-mixed diets, and base mixes are just a few examples of the various mixtures. Type a, type b, and type c typing are among the different classes. Different types of animals, including ruminants, poultry, swine, and aquaculture, are given medicated feed additive.
Medicated Feed Additives Market Dynamics
The global medicated feed additives market is driven by several factors that contribute to its growth and demand.The demand for animal proteins, such as meat, milk, and eggs, is rising on a global scale. Animal agriculture needs to be more effective and sustainable as the population grows and food habits shift. To fulfil this demand, the production of high-quality animal protein can be supported by the use of medicated feed additives, which can aid in illness prevention, growth promotion, and animal health improvement. The market for medicated feed additives is growing as animal diseases become more prevalent. A report by the Animal and Plant Health Agency estimated that 3289 new TB herd incidences had been discovered in England. A case of bovine TB that emerges as a result of a herd or individual animal test conducted in an officially TB-free (OTF) herd during the study period is referred to as a new herd event. Bovine tuberculosis is a chronic sickness that typically affects cattle, while it can strike any mammal and result in illness, coughing, and ultimately death. In addition, the statistics state that England's herd incidence rate was 9.4 for the year ending in September 2020. Feed additive demand is rising as a result of the additives' ability to protect animals from sickness and boost feed nutrition. There is a growing awareness and concern about animal welfare and the responsible use of medications in animal production. Medicated feed additives can help maintain animal health, alleviate pain or discomfort associated with diseases, and reduce the need for more invasive treatments. This aligns with consumer expectations and regulatory requirements related to animal welfare, driving the demand for medicated feed additives that contribute to animal well-being. New medicated feed additives are being introduced by companies in the medical feed additives market as a result of the blending of two or more medicated feed additives. In order to boost the product's effectiveness, more than 70% of producers now use multiple feed additives in animal feed. For instance, a worldwide health firm called Zoetis received FDA approval for its Cyden and Lincomix combination feed additive, which is intended to be used as a medicated feed additive for chicken. Additionally, the FDA-approved combination of the feed additives ACTOGAIN 45 (ractopamine hydrochloride) and ENGINE (ractopamine hydrochloride) from Zoetis results in a greater proportion of lean muscle mass and a smaller proportion of fat while maximizing feed efficiency.
However, the use of certain medicated feed additives, particularly antibiotics, has faced increasing scrutiny due to concerns about antimicrobial resistance. Regulatory bodies have implemented stricter regulations and guidelines to limit the use of antibiotics in animal feed. This can restrict the availability and usage of certain medicated feed additives, impacting the market.
Medicated Feed Additives Market Ecosystem
The global medicated feed additives market is analyzed from the following perspectives: animal type, type, mixture type, and region.
Medicated Feed Additives Market by Animal Type
Based on the animal type, the global medicated feed additives market is segmented into ruminants, swine, poultry, and others.
The poultry segment is projected to record a high revenue CAGR in the global medicated feed additives market during the forecast period. This is as a result of growing broiler production. The many additives for chicken feed that are commercially available and used to enhance the product's nutritional value include enzymes, antioxidants, vitamins, and acidifiers. Consumption is increasing in developing countries where consumers are being forced to diversify their diets by rising incomes and urbanization. The growth of the poultry feed business will be impacted by developing countries' continued dominance due to their rising populations and high rates of meat consumption.
Medicated Feed Additives Market by Type
Based on the type, the global medicated feed additives market is segmented into antibiotics, vitamins, antioxidants, amino acids, prebiotics, probiotics, enzymes, and other types.
The antibiotics segment accounts for the largest revenue share of around 46% in the global medicated feed additives market. Its ability to boost animal development and immunity accounts for its significant percentage. It helps prevent problems with an animal's skin and nails. Additionally, it is essential for preventing brain malfunction, which can cause animals' muscles to be out of coordination. One of the main factors driving the expansion of the antibiotics industry is also the capacity of antibiotics to boost growth in animals. Antibiotics also increase the protein and decrease the fat content of meat, enhancing its quality.
Medicated Feed Additives Market by Mixture Type
Based on the mixture type, the global medicated feed additives market is segmented into supplements, concentrates, premixes, and base mixes.
The supplement concentrate segment will account for the largest market revenue share in the global medicated feed additives market. This is a result of the increased consumption of dairy products due to their wide range of uses and health advantages. Cattle ranching has increased significantly in many nations due to the fact that cattle are the principal source of dairy products such as milk, cream, butter, yoghurt, and cheese. This will most likely result in a rise in product demand in the upcoming years.
Medicated Feed Additives Market by Region
Geographically, the global medicated feed additives market has been segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
North America has a substantial market for medicated feed additives due to its extensive livestock production, including poultry, swine, cattle, and aquaculture. The market has shown steady growth over the years, driven by the demand for improved animal health, disease prevention, and optimized production efficiency. The use of antibiotics in animal feed has been a subject of concern due to the potential development of antimicrobial resistance. In response, regulatory authorities in North America, such as the FDA, have implemented guidelines and restrictions on the use of antibiotics as growth promoters. These regulations have resulted in a shift towards more judicious use of antibiotics in animal feed, promoting alternative strategies for disease prevention and control. The North American market for medicated feed additives is served by several prominent companies involved in feed production, animal health, and pharmaceutical sectors. These companies offer a wide range of medicated feed additives, including antibiotics, anticoccidials, probiotics, and growth promoters, catering to the diverse needs of livestock producers in the region.
The Asia-Pacific is expected to grow at the fastest revenue CAGR in the global medicated feed additives market. Free trade agreements for countries that are a part of the Asia pacific area will favorably impact product growth over the projection period. Additionally, the India medicated feed additives market was growing at the fastest rate in the Asia-Pacific region, while China's market for medicated feed additives accounts for the greatest market share. For instance, the market for medicated feed additives in India would experience the highest CAGR growth throughout the projection period. The rigorous laws governing meat quality and rising meat consumption in China, Japan, and India are expected to continue to be major market drivers. Product demand will rise as a result of the healthy mill and pet food production industries. The sector will grow as a result of consumers' growing health consciousness and the country's rising per capita meat consumption.
Medicated Feed Additives Market Competitive Landscape
The prominent players operating in the global medicated feed additives market are: -
Medicated Feed Additives Market Strategic Developments
Animals are given medicated feed additives for nutrition, medical reasons, to prevent, treat, or control bacterial infections, coccidiosis, and worms, as well as to reduce mortality.
The global medicated feed additives market during the forecast period is expected to grow at a revenue CAGR of 5.10%.
Zoetis Inc., Phibro Animal Health Corporation, Cargill, Inc., Alltech, Inc., and Bluestar Adisseo Co. Ltd. are the major players in the medicated feed additives market.
The Asia Pacific region is projected to grow at a high revenue CAGR in the global medicated feed additives market.
The development of alternative strategies and products for animal health management, such as vaccines, probiotics, prebiotics, and phytogenic, can present a restraint to the global medicated feed additives market.
*Insights on financial performance are subject to the availability of information in the public domain