Posted on September, 1, 2022 at 10:10 am
United States, Rockville MD, Aug. 31, 2022 (GLOBE NEWSWIRE) -- According to the latest industry analysis by Fact.MR, a market research and competitive intelligence provider, the global zootechnical feed additives market is estimated at US$ 9.7 billion at present and is expected to expand at an impressive CAGR of 7% during the forecast years of 2022-2032.
Rigorous production of farm animals for enhancing the obtainability of eggs, meat, and milk is a challenging task for food security. However, zootechnical feed additives are a superlative option for the livestock and poultry industry to maintain the nutritious health of animals as they are known for better digestibility and quicker gut maturation. Additionally, the buzz against the use of antibiotic growth promoters that lead to bacterial resistance to antibiotics is amplifying the need for zootechnical feed additives as an alternative.
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Fact.MR suggests that probiotic- and protein-based feed additives will offer the most opportunistic market for new entrants. However, they may observe stiff competition from leading manufacturers owing to their established dominance. On the other hand, getting approval for phytogenic feed additives is a big challenge in front of leading as well as emerging manufacturers. To gain the approval for such products, manufacturers need to submit at least three studies per target animal category. However, providers will observe long-term revenue generation after the passing of the approval process.
Why is the World Seeing Increasing Popularity of Zootechnical Feed Additives?
“Health Deficiencies Defeated by Use of Feed Additives in Farm & Poultry Animals”
In early domestication patterns, domesticators used to feed their cattle and poultry animals with whatever sources of food were available, ranging from grass, pellets, grains, etc., which was then enough for them to survive. However, an increase in the population had surged the number of mouths to be fed and has driven the need for bigger livestock and poultry farms.
Limited availability of grazing lands and fodder has led to low production of animal goods. Efforts towards balancing the demand and supply ratio have caused several health deficiencies in animals such as poor performance, delayed pregnancies, appetite loss, and indigestion of meals. Rigorous scientific efforts and government initiatives towards animal health development have, propelled innovation in the zootech feed additives market.
Source: Yahoo Finance