Medicated Feed Market Overview:
Medicated Feed can be used to treat diseases or prevent diseases in animals. Medicated Feed is animal feed infused with veterinary drugs. It is a safe and friendly method of administering approved drugs to animals. Overall, medicated Feed improves the health and productivity of farm animals and prevents the outbreak of livestock diseases.
Medicated Feed Market Share is projected to register a CAGR of 5.34% and reach a value of USD 15,222.1 million by 2030.
The rise in the incidences of the outbreak of zoonotic and food-borne diseases among farm animals with high risks of transmission to humans has increased demand for medicated Feed to minimise disease outbreaks. This is a major growth factor for the medicated feed market. Growing demand for nutritious meat and dairy products has also spurred the need for medicated Feed.
The high cost of medicated Feed is a restraining factor for the market growth. Furthermore, stringent government regulations to be followed by the manufacturers to get approval for medicated feeds also hinder the market growth.
Competitive Intensity Within the Industry:
The key players of the Market are responsibly propelling the market's demand by targeting new growth opportunities. The market is driven due to growth factors, and the players concentrate these factors to upgrade the improvements. The industrial players are trying to upgrade the features per customer demand. Below mentioned is the list of key players of the Medicated Feed Market.
- Cargill, Inc. (the US)
- Hubbard Feeds (US)
- Aw Ennis (Ireland)
- Fane Valley Ltd (UK)
- Glanbia Ireland DAC (Ireland)
- Lisavaird Co-op. (Ireland)
- Archer Daniels Midland Co. (US)
- Alltech (US), Paul Vincent (Ireland)
- Biostadt India Ltd (India)
Market Segmentation:
The medicated feed market has been divided into amino acids, enzymes, vitamins, minerals, antibiotics, antioxidants, and probiotics based on product type. The enzyme segment is expected to grow at the fastest rate in the forecast period. Enzymes promote bone growth in animals and strengthen the immune system. The enzymes also improve the digestion of the nutrients present in the Feed, increasing the quality of meat, eggs, or milk. All these benefits fuel the demand for enzyme-based medicated Feed.
Based on livestock, the medicated feed market has been divided into poultry, swine, aquaculture, and others. The poultry segment dominates the global Medicated Feed Market Trends and is estimated to post the highest CAGR in the forecast period. This is because the constantly rising demand for good quality poultry products has led to more focus on providing high quality feeds to the poultry birds.
Based on form, the medicated feed market is divided into concentrates, supplements, base mixes, and premix feeds. Supplements account for the largest share because they contain trace elements that correct animals' nutritional deficiencies. Concentrates is the fastest-growing segment in the forecast period. The reasons are high digestibility and less bulkiness of the concentrates.
Regional Insights:
The global medicated feed market has been divided into North America, Asia Pacific, Europe, South America and the Middle East and Africa.
Asia Pacific region held the maximum market share in 2016-2022 and is expected to dominate the market in the forecast period. There are multiple reasons, such as increasing disposable income and rising population causing a surge in demand for meat and poultry products, increasing awareness about medicated Feed among the farmers, and increased health consciousness among people, leading to a huge demand for nutritious meat and other animal products.
Industry News:
- In 2019, Phibro Animal Health Corporation acquired Osprey Biotechnics, thereby adding medicated Feed to its product list.
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