Feed additives market is anticipated to grow at a CAGR of 5.2% during the forecast period. Feed additives are products used in animal nutrition for purposes of improving the quality of feed and the quality of food of animal origin, or to improve the animals’ performance and health. The growing health awareness for animals has created the demand for demand for quality meat. The recent disease epidemic in livestock has increased the concerns for use of feed additives with improved quality which is expected to drive the feed additives market growth.
The global vegan pet food market is anticipated to grow at a considerable CAGR of 8.5% during the forecast period. Increasing awareness among pet owners regarding the health and nutritional benefits offered by natural and plant-based pet food is driving the market growth. Protein-based foods are increasingly gaining momentum in pets. Corn and soy are common plant sources of protein used in plant food. Products that are developed using high-protein plants and deliver more protein than conventional pet food is attracting the focus of more pet owners.
The global market for forage feed is projected to have a considerable CAGR of around 4.5% during the forecast period. Forages are plants or parts of plants eaten by herbivorous animals. These are mainly the plant leaves and stems consumed by grazing livestock. The price of forage feed is lower as compared to other feeds, such as oilseed and wheat bran and they do not depend on pesticides and synthetic fertilizers. The demand for forage feed is heavily influenced by animal husbandry and livestock. Forage seeds are in high demand due to rising animal feed demands. Over the forecast period, rising per capita meat consumption is predicted to boost demand for forage feed.
The global feed vitamins market is anticipated to grow at a significant CAGR of around 7.5% during the forecast period. Rising health concerns due to diseases outbreak in livestock and growing demand for high-quality meat and increasing meat consumption are factors that are augmented in the feed additives market growth. Moreover, preventing growth disorders in young animals and its protective functions has importance in older animals. Moreover, major players such as BASF SE, Adisseo, and DSM are investing more and more in the development of new vitamin-based products.
The global market for feed carotenoids is projected to have a considerable CAGR of around 3.6% during the forecast period. Feed carotenoids are in the form of pigments that are naturally sourced from photosynthetic bacteria, algae, and plants. Carotenoids are responsible for the colour of animal skin and are essential for maintaining the health of animals. The growing prevalence of animal diseases has led to a surge in demand for carotenoids in the livestock industry
The global compound feed market is anticipated to grow at a significant CAGR during the forecast period (2021-2027). The major factors that are expected to boost the market include increased awareness regarding quality meat, milk, and other dairy-related products and increased livestock production.
The global pet food market is anticipated to grow at a significant CAGR during the forecast period. On one hand, COVID-19 imposed a negative impact on the supply chains. Due to the restrictions in the movement of raw materials, the pet food industry suffered initially in terms of supply and cash flow.
The market for Feed Mycotoxin Detoxifiers Modifier is anticipated to grow at a significant CAGR during the forecast period. Mycotoxins are tiny secondary metabolites (a collection of natural compounds) produced by moulds that can induce harmful effects in people and animals, known as mycotoxicoses.
The global pet food market is anticipated to grow at a CAGR of over 4% during the forecast period. Pet food is the plant or animal material that is commercially prepared for the feeding of pets. Pet foods are formulated according to the nutritional requirement of a specific breed of pets consisting of meat, meat by-products, cereals, grain, vitamins, and minerals.
The global compound feed market is estimated to grow at a CAGR of nearly 4.6% during the forecast period. The major factors contributing to the growth of the market include the increasing livestock population and rising demand for meat and dairy products.
Eubiotics Market is expected to grow at a moderate rate during the forecast period 2019-2025. Eubiotics supports to maintain the healthy balance of the microbiota in the gastrointestinal tract. There are several kinds of eubiotics for both animal and human use that enables to improve gut health and immune systems.