|Global Animal Feed Ingredient Market Powered by Antibiotic Alternatives and Vertical Integration|
|Regulatory Ban on the Use of Antibiotic Growth Promoters to Stimulate New Product Development|
Animal feed ingredients are micro-ingredients that improve the feed conversion ratio and overall animal performance. This study primarily focuses on assessing the growth opportunities for the animal feed ingredients, such as amino acids, enzymes, vitamins, organic acids, organic trace minerals, probiotics, prebiotics, omega-3 fatty acids, and antioxidants.
The rising demand for high-quality meat products across the world, particularly in developing economies, presents a significant opportunity for feed ingredient manufacturers. Rising population, growing economies, and increasing per capita income are some of the factors that boost the demand for feed additives. Changing regulatory policies in some of the key geographies, against the usage of antibiotics as growth promoters in animal feed, are expected to create lucrative opportunities for antibiotic alternatives during the forecast period.
The COVID-19 scenario has been considered in this analysis. The pandemic has resulted in a drop in the market growth of animal feed ingredients in 2020 because of the disruption of national and international supply chains, lower global meat demand caused by disrupted HORECA services, and lower consumer spending in most parts of the world. Though, market growth is expected to recover in 2021 because of the vaccine, the impact of the COVID-19 pandemic on the animal feed ingredient market is expected to be most intense in developing economies because of low purchasing power.
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