ID: MRFR/AGR/5071-HCR | 100 Pages | Published By Pradeep Nandi on March 2023
Medicated Feed Market is projected to register a CAGR of 5.34% and reach a value of USD 15,222.1 million by 2030.
Medicated feeds are fed to animals that contain veterinary drugs. Medicated feeds prevent and treat diseases such as circovirus, porcine multi-systemic wasting syndrome (PMWS), and porcine reproductive and respiratory syndrome (PRRS). Due to these features, the Medicated Feed Market is growing at a higher pace.
Medicated feeds are given to animals in the form of medication such as injections and tablets. The animals are treated in a controlled and safe manner through these medications. The rise in concern of animal health among cattle owners is driving the Medicated Feed Market Growth. The outbreak of different animal diseases is another growth factor of the market.
Medicated feed also improves the nutritional value and quality of the feed. These feeds also help in the maintenance of animal diets and increase their feed intake. The increased demand for high-quality meat with essential nutrients has resulted in the higher usage of medicated feed additives. The increased awareness of meat and dairy products and concerns related to livestock health and the industrialization of animal processed products are the major growth drivers of the Market Trends.
The increased rate of fear of foodborne and zoonotic diseases like avian flu and the rise in need of an appropriate method for providing the desired medicines for the growth of animals are fueling up the Market Outlook. Also, the better efficiency of medicated feed for metabolism and ensuring the good health of animals enhance the market's demand.
The Medicated Feed Market is estimated to reach a significant CAGR and a strong USD value during the forecast period due to the rising growth opportunities.
During the virus outbreak, the Medicated Feed Market faced negative impacts. The initial days of the pandemic were a tough period for the market due to the strict lockdown rules, which affected the growth rate. The functional units of the industries were shut down, and the processing was delayed. This hampered the sales section and disrupted the supply chain process. The exports and imports of the products were restricted, due to this the products couldn't reach the targeted customers. But in the further days, the rise in concern of animal health has accelerated the demand of the Medicated Feed Market. The key players' efforts and other improvements will help the market stabilize its growth in the post-pandemic period. Therefore, the market is expected to reach a good CAGR percent in the forecast period.
Chief Factors Existing In The Market
Key Market Drivers
The major growth drivers of the Medicated Feed Market are boosting up the market's growth with great demand. The increased consumption of meat and dairy products is chiefly driving the market. The raise of zoonotic and foodborne diseases can impact humans too; the usage of medicated feed can reduce the transmission; this factor is considered as the major driving factor of the market. The demand for improving the nutritional content of meat is another primary driver of the Medicated Feed Market.
The rising challenges are highly affecting the market's growth; the reduction of employees in government offices is delaying the trade process, which is eventually reducing the availability of medicated feed to the farmers.
The growth opportunities are elevating the Market Size. The awareness for high nutritional food consumption sets wide growing chances for the market. The awareness and concern spread among the cattle owners are enhancing the market.
Certain restraining factors are hindering the growth of the Medicated Feed Market. Stringent government rules and the rising competition due to lower entry barriers act as constraints of the market.During the pandemic, the demand from the food joints decreased, and a higher increase in transaction costs limited the market's growth rate. This has resulted in economic loss, but the strategies of key players will drive the market's growth in the future days.
Cumulative Evaluation Of The Market
The evaluation of the market shows the ways through which the Medicated Feed Market is boosting up. The market notices a significant and consistent growth rate amid the negative effects. The chief existing factors, such as the growth drivers and rising opportunities, are propelling the growth factors and demand to let the market reach its goal. Some factors restrict the market's growth, such as the restraining and challenges, but the players are planning to overcome the issues. Like other sectors, the Medicated Feed Market also faced a negative impact during the outbreak of the virus. Still, in the future days, the market normalized its growth conditions due to the presence of wide opportunities. The Market Forecast will positively proceed at a good pace to achieve its estimated value during the evaluation period.
The Medicated Feed Market is segmented into major segments such as type, form, and livestock. All these segments play a crucial role in developing the market's status. These segments are further sub-segmented into different types; all of the segments have significant value.
The type segment of the market is fragmented into antioxidants, probiotics, prebiotics, amino acids, and others.
The Market form segment is classified into mash, pellets, crumbled, and others.
The livestock segment of the market is categorized into ruminants, swine, aquaculture, poultry, and others. The poultry segment is noticing good growth due to the increased consumption of poultry products.
According to the geographical status, the Medicated Feed Market has noticed its widespread growth in major continents such as the North American region, Asia Pacific, Europe, and other countries.
The Asia Pacific region is considered the leading region with a good share rate of the Medicated Feed MarketShare due to the increased growth of animal diseases and the higher demand for high-quality and safe animal products. Livestock farming is significantly growing in countries such as India and China for the consumption of meat, dairy and other products. The improvements of the livestock farming process are driving the regional market of the Asia Pacific region.
Europe is anticipated as the fastest-growing due to the rise in prevalence of chronic diseases in animals and technical and scientific progress in the feed industry. The presence of major countries such as Italy and Spain is accelerating the European market's regional market.
All these regions contribute to the growth of the global Medicated Feed Market.
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.
Recent Market Developments
According to the new European regulations, which came into force on 28 January 2022- the first is Regulation (EU) 2019/4 of the Parliament and of the Council of 11 December 2018 was on the manufacturing and placing on the market and usage of medicated feed (under "Medicated Feed Regulation"). The second Regulation is (EU) 2019/6 of the Parliament and of the Council of 11 December 2018 on medicinal products related to veterinary ("Veterinary Medicinal Products Regulation"). These recently published regulations mark a milestone in the legislation adaptation based on the real situation of the veterinary medicinal products and for ensuring the legal framework that is better adapted to the practical reality of the sector.
The Market Analysis states the complete details of the market. The market overview has the key growth factors and demands through which the market is emerging. The market's dynamic factors show their sustainable impact on the market. The segments are mentioned with their sub-segments. The regional analysis briefly describes the major regions covered by the market and their global market progress. The key players' presence is showing a positive impact on the market. Their future developments will help the market grow at a higher speed to compete globally with other alternatives. Therefore, the Medicated Feed MarketValueis projected to witness a significant compound annual growth rate during the forecast period.
Key Industrial Segments
The APAC region is expected to dominate the medicated feed market.
Amino acids will lead the medicated feed market.
Poultry segment will dominate the medicated feed market.
Outbreak of different animal diseases and rising health concerns are the key factors driving the medicated feed market growth.
Key players profiled in the medicated feed market include Biostadt India Ltd (India), Paul & Vincent (Ireland), Alltech (US), Archer Daniels Midland Co. (US), Lisavaird Co-op. (Ireland), Glanbia Ireland DAC (Ireland), Fane Valley Ltd (UK), Aw Ennis (Ireland), Hubbard Feeds (US), and Cargill, Inc. (US).