Feed Additive Market’s Opportunity and Challenges

CHICAGO, Oct. 04, 2019 (GLOBE NEWSWIRE) — Feed additives market is projected to grow at a CAGR of 6.1% from 2018, to reach USD 44.3 billion by 2023, in terms of value.
The growth of feed additives market is attributed to growing focus on livestock and their welfare, which is driven by the global increase in demand for meat and poultry products, rise in global feed production with improved technologies, and increasing standardization of meat products due to contamination from various bacteria. The growth of the market is restricted due to stringent regulations in regions such as Europe and price volatility.How shifting towards natural growth promoters can be an opportunity?Antimicrobial compounds are commonly included in poultry diets for promoting growth and controlling diseases. The EU banned feed-grade antibiotic growth promoters owing to cross-resistance and also due to the risk posed to EU’s food safety and public health. Due to this, feed manufacturers are adopting new forms of natural feed additives with the help of modern science. This new generation of growth enhancers includes botanical additives such as appropriate blends of herbs or plant extracts.Natural growth promoters (NGPs) predominantly include organic acids, probiotics, prebiotics, synbiotics, phytogenics, feed enzymes, and immune stimulants. The main advantage of NGPs over antibiotics is that they usually do not bear any risk in terms of bacterial resistance or undesired residues in animal products such as meat, milk, or eggs. The addition of NGPs may have a number of beneficial effects, such as increased growth performance, improved feed efficiency, and rapid maturation of the immune system. The inclusion of phytogenics in feed is still in its nascent stage. As phytogenics are derived from natural sources, their inclusion is expected to be more profitable as the same efficiency is derived at a low price. Their inclusion is also expected to increase the acceptance amongst farmers as well as end consumers.Request Sample Pages of Report: https://www.marketsandmarkets.com/requestsampleNew.asp?id=870Why quality control of genetic feed additive products manufactured by Asian companies is posing a challenge?In Asia, livestock plays a crucial role in the overall agricultural development and has been growing at an unprecedented rate in the last few decades. According to the World Health Organization (WHO), in 2016, Asia ranked first in the production of livestock; furthermore, the per capita consumption of livestock products in Asia is projected to grow from 94.6 pounds in 1999 to 154.4 pounds by 2030. The Asian livestock industry has witnessed several changes in terms of population growth, resource availability, environmental destruction, and the rise in demand for animal products. According to the FAO, by 2030, the per capita meat consumption will rise by 45% in developing countries and by 14% in developed countries when compared to 2015. Feed manufacturers in Asia are producing large quantities of feed additive products to cater to the growing demand.China is a major feed producer and consumer in the East Asian region and has been experiencing rapid livestock production expansion. It is also one of the major exporters of feed to North America and Europe. Lack of an integrated quality control system in feed analysis is one of the main issues faced by Asian feed manufacturers. Feed additive product testing and the data originating from many laboratories in Asian countries are not considered reliable because quality control systems and good laboratory practices are not integrated into their feed analysis. A manual to address these issues has been produced by FAO (FAO 2011). Science managers and feed industries must ensure that quality control systems and good laboratory practices are routinely used by feed analysis laboratories.Stay ahead of your Competitors. Get Actionable Business Recommendations & Key Findings from the Report Speak to our Analyst Today @ https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=870About MarketsandMarkets™MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. 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