July, 2023 - Market Research Future has Published a Research Report on the Global Medicated Feed Market
New research study on Global Medicated Feed Market by Market Research Future Reports begins with an elementary prologue which states that the market is expected to reach USD 15,222.1 million at a CAGR of 5.34% by the year 2030. The medicated feed market showcases market overview, the scope of the market, an overview of the latest trends observed, factors driving the market, competitive analysis, constraints and key market players who are continually contributing to the market to proliferate.
Medicated feed is related to a mixture of animal feed that contains veterinary drugs and is medical products. Medicated feed in the animal diet helps in preventing or treat diseases such as porcine multi-systemic wasting syndrome (PMWS), circovirus, and porcine reproductive and respiratory syndrome (PRRS). In general, it is an effective way of treating animals in a controlled and safe manner. In fact, medicated feed in the animal diet is preventive and helps on the treatment of farm animals more safely. These are added in animal diets to enhance the quality and characteristics of animal feed.
Global Medicated Feed Market Drivers & Trends
The global medicated feed market is driven by various factors, such as the rise in the consumption of meat and dairy products, growing concerns about the health of livestock and development of animal processed products. Moreover, the proliferation of population across the world is also driving the growth of meat consumption over the forecast period. This, thereby, is driving the growth of the medicated feed market in substantial ways. Resultantly, many key market players have entered the production of various products of medicated feed that adequately protects the health of the animal by providing nutritional ingredients.
The primary usage of medicated feeds in animals is also fulfilling human demand for food, milk and other agricultural operations in promoting proper growth of health. In recent time, people have become more health conscious than ever as well as their changing eating habits have made them more cautious about health. This is also, in varied ways is supporting the market for medical feed market substantially at a higher CAGR. On the other hand, the facility and provision of providing medicines in feed is an effective and obedient method, which in turn is expected to fortify the growth for medicated feed market in the years to come.
Global Medicated Feed Market Segmentation
According to the reports published by Market Research Future Report, it has mentioned about the segmentation of the market, which has been carried out on the basis of type, form, livestock, and region.
By the mode of type, the global medicated feed market has been classified into antioxidants, probiotics, prebiotics, amino acids, and others.
By the mode of form, the global medicated feed market has been alienated into mash, pellets, crumbled, and others.
By the mode of livestock, the market has been segmented into ruminants, swine, aquaculture, poultry, and others.
Market Research Future Reports has mentioned some of the essential names of key market players and they are 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), and Biostadt India Ltd (India) are some of the key players in the global medicated feed market.
The global medicated feed market has covered the key regions of North America, Europe, Asia-Pacific, and the rest of the world. The North American medicated feed market has further been segmented into the US, Canada, and Mexico.
Among them, Asia Pacific is estimated to lead the medicated feed market at the time of assessment period owing to the frequent outbreak of animal diseases and the rising demand for quality animal products. Even livestock farming is one of the major occupations in countries such as India and China for meat, dairy, and other animal milk products. The methods in livestock farming are directly influencing the demand for medicated feed, which is evidently boosting the market of medicated feed market.
Whereas, the medicated feed market in Europe is also expected to be the fastest-growing owing to the swelling prevalence of chronic diseases in animals as well as technical and scientific progress in the feed industry. In Europe, Italy and Spain have observed to be the major markets for medicated feed in the region during the forecast period.
Then comes, North America region where medicated feed market is projected to inflate with significant CAGR in the future owing to the increasing demand for better food and other primary products.