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Nutritional Feed Additives Global Market Report 2021: COVID 19 Impact and Recovery to 2030

ReportLinker
·4-min read

Major players in the nutritional feed additives market are BASF SE, Cargill, Archer Daniels Midland Company, Evonik Industries AG, and Nutreco N. V. The global nutritional feed additives market is expected to grow from $8.

New York, May 04, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Nutritional Feed Additives Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06067919/?utm_source=GNW
27 billion in 2020 to $9.97 billion in 2021 at a compound annual growth rate (CAGR) of 20.6%. 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 $12.65 billion in 2025 at a CAGR of 6.1%.

The nutritional feed additives market consists of sales of nutritional feed additives which are used to improve animals nutrition.Nutrition feed additives are an important portion of nutrition that enhance yield and quality of food.

Nutrition feed additives improve the overall gut health, digestion process and appetite. This market includes companies that produce nutritional feed additives such as enzymes, antioxidants, acidifiers, probiotics, prebiotics and others.

In 2019, Paragon Medical was acquired by NN Inc. for $375 Million. With this acquisition, NN will diversify its product offerings and further enhance its technical proficiencies. Paragon Medical, with the help of NN’s engineered solutions, plans to introduce new products in the market, customized as per customer’s requirements. Paragon Medical is a medical device company that focuses on orthopedic accessories like case, tray, implant, and various other instruments. Paragon Medical was established in the year 1991 and has its headquarters at Indiana, United States.

The rise in consumption of meat products is one of the driving factors for the Nutrition Feed Additives Market.Due to high meat consumption, the concern for high quality meat is also increasing.

Thus, in order to deliver high quality meat, add-on nutrition feed additives are fed to the animals so that they have good digestion to build on more muscle and weight.This increases the yield and productivity and hence, the demand for nutritional feed additives.

Currently, meat and poultry consumption in the US is more than 100 Billion pound every year.

China’s AQSIQ (Administration for Quality Supervision and Inspection and Quarantine) has laid out new regulations regarding what kind of feed additives can be imported into the country.AQSIQ published 2 reports that specified which countries and regions can export their feed additives and feed raw material to China.

Also, according to the new regulations, feed additives manufacturers must get their products approved from AQSIQ, once approved, they can export them to China.The exporters are expected to file an application to Ministry of Agriculture to get import license before exporting to China for the first time.

The import license is a must for the sale of nutrition feed additives in China and the license will be valid for 5 years.

Feed additives manufacturers are investing in the R&D of organic feed additives as there is a growing demand for organic and natural feed products in the nutritional feed additives market.When compared to synthetic nutrition feed additives, organic feed additives have less side effects and also improves yield.

Therefore, poultry farmers are switching to herbal nutrition feed additives. For instance, Agpulse Organics has come up with its herbal animal feed additive ’Govahnika-Biosheera’ which is fed to cattle to increase milk productivity while maintaining the health of cattle and quality of milk.

In September 2020, Adisseo acquired Framelco G for an undisclosed amount.With this acquisition the company will enhance the growth of specialities to become the world leader in the field of specialty feed ingredients in animal nutrition.

Framelco G is a family-owned multinational company that develops and manufactures feed additives and drinking water solutions for livestock production.

The stringent regulations act as one of the major restraining factors for the Nutrition Feed Additives market.There are many mandatory documents, required to be approved before approving the nutritional feed which delays the approval process.

Therefore, the product launch and expansion of companies in new regional market will be delayed.For instance, China’s AQSIQ (Administration for Quality Supervision and Inspection and Quarantine) issued 2 reports for the nutrition feed additive companies to get their product registered and approved by the concerned Chinese authority before selling it in the China market.

The report also made it compulsory for all the exporters to have license so as to sell their nutrition feed additive products in the Chinese market which delays the nutritional feed additives from reaching the stores.
Read the full report: https://www.reportlinker.com/p06067919/?utm_source=GNW

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