The current scenario in the overall animal health space seems to be indicating that prominent behemoths in animal feed additives market are continuously involved in enhancing the quality of feed nutrition and improving feed palatability and digestibility. Feed additives are known to overcome dietary deficiencies by complementing the growth rate of animals, on the grounds of which many livestock industries have been demanding feed additives on large scale to modify animal metabolism in specific ways – say for instance, improve milk yielding efficiency in lactating animals and minimizing animal waste. The rise in demand for the product from livestock farmers to supply daily nutrition to animals is likely to boost animal feed additives industry share. In fact, to tap into the growing business opportunities in animal feed additives market, several counterfeit firms have launched their products comprising various harmful ingredients. In order to undertake appropriate steps regarding the same, and to enhance the quality of feed and ensure animal safety, numerous regulatory bodies have enforced norms and framed guidelines to promote hygiene practice at all level of feed and agriculture production. The significant deployment of food and safety norms across the globe is thus slated to push animal feed additives market share over the years ahead.
China Animal Feed Additives Market Size, By Product, 2016 & 2024 (USD Million)
A brief insight into the regulatory landscape influencing animal feed additives market expansion
In a conference held in 2016 by the Management Forum on ‘A Regulatory Update on Animal Feed and Feed Additives across EU, China, and USA’, representatives from the European Food Safety Authority (EFSA) and the European Commission (EU) presented a legal framework to establish regulations regarding animal feed additives. Taking into account the food chain safety issues, these regulatory bodies claimed that the guidance documents would be periodically updated, until June 2018. The escalating intervention of authorized bodies in enhancing feed safety is thus likely to augment animal feed additives market outlook.
Despite the fact that technological developments have forayed in animal feed additives industry, the EFSA (European Food Safety Authority) has drafted a few guidelines regarding the risks associated with the use of nanotechnology and nanoscience in the food and feed chain that most biggies in animal feed additives market would need to adhere to. As per the report published by EFSA, the inventory and evaluation in nanotechnology applications will replace antibiotics with nanoparticles as substitutes. But, nanoparticles are not well characterized and remain underutilized for poultry feed additives. For instance, nanoparticles are used currently in most of the chicken feed, resulting in improved chicken microbiota, however, silver nanoparticles contrarily, lead to higher toxicity level in birds. In fact, players in animal feed market are significantly investigating alternatives for inorganic nanoparticles like silver in terms of organic materials such as nano-composites and nano-encapsulation.
Around a year before, regulatory authorities of most of the countries including Europe, have permitted the use of antioxidant feed additives considering its useful functionality in preventing the damage in biological systems, thereby propelling animal feed additives market share. In addition, antioxidants could be used not only to enhance the quality of animal-derived products but also to maintain the health of animals, particularly in oxidative stress circumstances. The regulatory approval for use of antioxidants for animal feeds has stimulated the innovation of strong antioxidant products, which in consequence, would have a prominent impact on the functionality and efficacy of antioxidants. The positive outcome that most giants in animal feed additives market have experienced, coupled with the concentrated efforts related to antioxidants research will indeed boost animal feed additives industry size. As per research, antioxidants-based animal feed additives market size will be pegged at USD 550 million by the end of 2024.
While most players in animal feed additives market have been focusing on innovation, sustainability, quality, and product reliability have also emerged as strategic points of concern for companies to meet future challenges in livestock farming. In fact, some of the renowned companies are significantly strengthening their proficiencies in feed production and distribution with favorable mergers and acquisitions. For instance, merely a few days before, one of the leading providers of innovative feed additives, Cargill, signed an agreement to acquire an Ohio based manufacturer of pet foods, Pro-Pet. With this acquisition, Cargill would become the only national provider of animal feed as well as pet food, and would be aiming to consolidate its position further in animal feed additives industry.
The increasing deployment of regulatory norms in order to encourage the biggies in animal feed additives industry to manufacture good quality, healthy, and inexpensive animal feeds will have a profound effect on product demand over the years ahead. Furthermore, the shifting focus of industry players toward high nutrient utilization without increasing the environmental waste load is also likely to push overall animal feed additives market share.