Nutritional Feed Additives Market Value to Reach $9.62 Billion by 2022
LONDON, March 17, 2020 /PRNewswire/ -- One of the leading market research, TheBusinessResearchCompany.com announces adding a research report on "Nutritional Feed Additives Global Market Report 2020" to its Veterinary Healthcare category. The complete report is spread across 150+ pages and available for purchase. View report @ https://www.thebusinessresearchcompany.com/report/nutritional-feed-additives-global-market-report
Stringent Regulations In The $8.03 Billion Nutritional Feed Additives Market
Stringent regulations are a major restraint on the global nutrition feed additives market. There are many mandatory documents required to be approved before launching the nutritional feed product, which delays the approval process. Therefore, the product launch and expansion of companies in new regional markets will be delayed. For instance, China's AQSIQ (Administration for Quality Supervision and Inspection and Quarantine) issued 2 reports for nutrition feed additive companies to get their product registered and approved by the concerned Chinese authority before selling it in the Chinese market. The report also made it compulsory for all the exporters to have a license so as to sell their nutrition feed additive products in the Chinese market, which delays the nutritional feed additives from reaching the stores.
China's AQSIQ 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 the Ministry of Agriculture to get an 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.
Increasing Consumption Of Meat Products Will Drive The Nutrition Feed Additives Market
The global nutritional feed additives market was valued at about $8.03 billion in 2018 and is expected to grow to $9.62 billion at a compound annual growth rate (CAGR) of 4.6% through 2022. The rise in consumption of meat products is one of the driving factors for the nutrition feed additives market's growth. 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. For instance, beef consumption in the US has held a steady rise since 1970 to 2018. Currently, meat and poultry consumption in the US is more than 100 billion pound every year.
Nutritional feed additives 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 overall gut health, digestion process and appetite. The nutritional feed additives market includes companies that produce nutritional feed additives such as enzymes, antioxidants, acidifiers, probiotics, prebiotics and others.
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Growing Demand For Organic Feed Additives
Feed additives manufacturers are investing in the research and development 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 improved 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.
Mergers And Acquisitions By Players In The Nutritional Feed Additives Market
Major players in the market are BASF SE, Cargill, Archer Daniels Midland Company, Evonik Industries AG, and Nutreco N.V. Companies in the market are investing in mergers and acquisitions to strengthen their feed additives businesses. In April 2018, General Mills Inc., a US-based food company acquired Blue Buffalo Pet Products, Inc. (BUFF) for $8 billion. With this acquisition, General Mills moved towards a portfolio-reshaping strategy as the company had never sold any pet food products in the last 50 years, whereas Blue Buffalo sells 'antioxidant-rich' dog nutrition litter. This resulted in the expansion of General Mills' portfolio. General Mills will operate Blue Buffalo under a newly formed pet operating segment. Blue Buffalo is a US-based pet food company which develops, produces, markets, and sells dog and cat food.
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