The global medicated feed additives market was valued at USD 13994.12 million in 2023 and is anticipated to reach USD 14754.30 million in 2024 from USD 22523 million by 2032, growing at a CAGR of 5.43% from 2024 to 2032.
The medicated feed additives market is showing evident potential in the mentioned forecasting period. The market continues to gain momentum with the rise in the consumption of meat and dairy products. Thus, various companies have been showing interest in the market recently. Medicated feed refers to all the products intended to be an important source of nutrients in animal diet. It includes various types of diet components such as supplements, concentrates, etc. Medical feed additives are responsible for maintaining a healthy proportion of nutrients in animal feed, thus, in turn, improving their productivity while keeping their health in mind.
Rising awareness about high-quality meat, rich in nutrients with the growing population, has been a boon for the market. Other major factors contributing to the market growth include a rise in disposable income, epidemic outbreak among animals, organization of the livestock industry, and various animal husbandry practices being implemented for the improvement of meat quality. However, there are some restraints faced by the market as well, like stringent regulations by the government, alternatives like organic products, and risks to humans related to medicated feed additives.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023 to 2032 |
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Base Year |
2023 |
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Forecast Period |
2024 to 2032 |
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CAGR |
5.43% |
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Segments Covered |
By Type, Livestock, Mixture Type, and Region |
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Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
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Market Leaders Profiled |
Zoetis Inc., Cargill, Archer Daniels Midland Company, CHS Inc., Purina Animal Nutrition (Land O’ Lakes), Adisseo France Sas, Alltech Inc. (Ridley), Biostadt India Limited, Zagro, Hipro Animal Nutrition, and Others. |
The market share is dominated by the enzymes segment and is expected to be the fastest growing as well.
The cattle segment accounted for the highest market share on the basis of livestock due to the increase in production of cattle meat over the recent years and is expected to grow even further.
The concentrates segment is expected to show the highest growth rate in the upcoming years.
The Medicated Feed Additives market was dominated by North America, with an overall market share of almost 30% globally. North America was followed by Europe and Asia-Pacific. Asia Pacific is predicted to grow at a rapid pace in the coming few years.
Some of the major companies dominating the market, by their products and services, include Zoetis Inc., Cargill, Archer Daniels Midland Company, CHS Inc., Purina Animal Nutrition (Land O’ Lakes), Adisseo France Sas, Alltech Inc. (Ridley), Biostadt India Limited, Zagro, Hipro Animal Nutrition.
By Type
By Livestock
By Mixture Type
By Region
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