Major players in the medical feed additives market are Zoetis Inc. , Cargill,, CHS Inc. , Purina Animal Nutrition (Land O’ Lakes) and Archer Daniels Midland Company. The global medical feed additives market is expected to grow from $11.
New York, May 03, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Medical Feed Additives Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067873/?utm_source=GNW
2 billion in 2020 to $13.3 billion in 2021 at a compound annual growth rate (CAGR) of 18.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $16.65 billion in 2025 at a CAGR of 5.8%.
The medical feed additives market consists of sales of medical feed additives and related services in order to prepare complete food for animals.Medical feed additives help improve the nutritional content and quality of feed, results in better productivity, and prevents animals from diseases.
Medical feed additives industry includes companies that produce animal feed additives such as vitamins and probiotic, preservatives, antioxidants, digestibility enhancers, gut flora stabilizers and others.
The overuse and inappropriate use of antibiotics in medical feed additives impacts the health of individuals consuming the animal meat or other related products.Moreover, the health of the animal consuming the feed may also be adversely affected by the antibiotics added to the feed as the excess additive reduces the natural immunity of the animal and increases susceptibility of the livestock to infections.
For instance, on July 1 2020, the Ministry of Agriculture and Rural Affairs in China, under Announcement No. 194 banned the production of commercial feed with medicated feed additives (excluding traditional Chinese medicine) for growth promoting purposes The negative effects of additives on human health caused due to overuse of feed additives in animals will restrain the growth of the market.
Increase in prevalence of diseases among animals is driving the growth of the medicated feed additives market According to the estimates from report by Animal and Plant Health Agency, a total of 3289 number of new TB herd incidents were detected in England.A new herd incident is a case of bovine TB that occurs as a result of a herd or individual animal test performed in an officially TB-free (OTF) herd during the study period.
Bovine tuberculosis is a chronic disease which usually affects animals such as cattle, but it can affect all mammals causing illness, coughing and eventual death. Moreover, according to the reports the herd incidence rate in England for the 12 months to end September 2020 was 9.4.The additives help prevent animals from diseases alongside increasing the nutrition level of the feed thereby increasing demand for feed additives.
In February 2019, Archer Daniels Midland Company (ADM), an American global food processing and commodities trading company acquired Neovia for $1.74 billion (€1.544 billion). This acquisition helps ADM to become a global leader in animal nutrition products and services with Neovia adding a wide range of products to the former company’s portfolio including pet care, additives, aquaculture, and livestock feed which would in turn boost the growth of the company. Neovia is headquartered in France was established in 1954 and manufactures and distributes various biologically degradable disinfectants along with feed additives for plants and animals.
Companies in the medical feed additives market are introducing new feed medicated additives formed as a result of combination of two or more medicated feed additives.More than 70% of manufacturers are now using more than one feed additive in animal feed to increase the efficiency of the product.
For instance, Zoetis, a global health company got the approval for its Cyden and Lincomix combination feed additive from the FDA (Food and Drug Administration) and is proposed to be used as medicated feed additive for poultry. Also, FDA approved combination of Zoetis’ feed additives ACTOGAIN 45 (ractopamine hydrochloride) and ENGAIN (ractopamine hydrochloride) that makes more lean muscle and less fat while optimizing feed efficiency.
The medical feed additives market is regulated by government agencies which lay down regulations to be followed by all the manufacturers of veterinary medicines.For instance, the Veterinary Medicines Regulations (VMR) 2013 makes provision for the authorization, manufacturing and classification of veterinary products including medicated feed additives.
The Schedule 5 under EU guidelines covers medicated feeding stuffs and specified feed additives which specifies guidance to both manufactures and suppliers of veterinary medicines for incorporating it into animal feed as well as to veterinary surgeons, animal keepers and other members involved in the use of veterinary medicines and SFAs(Specified Feed Additives)in animal feeding stuffs.
Read the full report: https://www.reportlinker.com/p06067873/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.
CONTACT: Clare: email@example.com US: (339)-368-6001 Intl: +1 339-368-6001