Dublin, Sept. 27, 2023 (GLOBE NEWSWIRE) -- The "Feed Acid Market, By Product Type, By Animal Type, By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2023-2030" report has been added to ResearchAndMarkets.com's offering.
The global animal feed industry has faced significant challenges due to the emergence of COVID-19 and changes in consumer demand, particularly in the poultry, pork, and dairy sectors. The pandemic has led to shifts in consumer behavior and disrupted supply chains, forcing manufacturers in the animal feed industry to reassess their strategies and policies.
Despite these challenges, the animal feed industry has demonstrated resilience and maintained strong growth. This resilience is attributed to several factors, including the essential nature of animal feed for livestock production, which is critical for the food supply chain.
Market Dynamics:
- Registration Facilities for Feed Additives: The availability of registration facilities for feed additives is expected to drive the growth of the global feed acid market. For example, in September 2021, Ukraine's Ministry of Economy approved a registration dossier outlining the procedure for the state registration of feed additives in Ukraine. This regulatory support can facilitate market growth.
- Ban on GMO Residues: The global feed acid market has witnessed bans on feed additives containing genetically modified organism (GMO) residues. Regulatory authorities in various countries have barred the import of feed additives from certain regions due to concerns about GMO residues. For instance, Russia's veterinary watchdog banned feed additives import from countries like Germany, the U.K., and Canada after GMO residues were detected in supplied products. Such bans can impact the sourcing and distribution of feed additives in the market.
Key Features of the Study:
This market study provides a comprehensive analysis of the global feed acid market, including:
- Market size and compound annual growth rate (CAGR%) for the forecast period 2023-2030, with 2022 as the base year.
- Insights into potential revenue opportunities across different market segments.
- Analysis of market drivers, restraints, opportunities, market trends, and regional outlook.
- Profiles of key players in the global feed acid market, including company highlights, product portfolios, financial performance, and strategies.
Key Companies in the Feed Acid Market:
The report profiles key companies operating in the global feed acid market. These companies include:
- ADDCON GmbH
- BASF SE
- Biomin GmbH
- Perstorp AB
- Kemin Industries Inc.
- Impextraco
- Jefo Nutrition Inc.
- Novus International
- Corbion Purac
- Trouw Nutrition International B.V.
Segmentation:
The global feed acid market is segmented based on product type, animal type, and region:
Product Type:
- Amino Acids
- Antibiotics
- Vitamins
- Feed Enzymes
- Antioxidants
Animal Type:
- Ruminants
- Poultry
Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
This market report serves as a valuable resource for stakeholders in the animal feed industry, including investors, suppliers, manufacturers, distributors, and financial analysts. It offers insights to support informed decision-making regarding product launches, market expansion, and marketing strategies in this dynamic industry.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 110 |
| Forecast Period | 2022 - 2030 |
| Estimated Market Value (USD) in 2022 | $1909.4 Million |
| Forecasted Market Value (USD) by 2030 | $3206.9 Million |
| Compound Annual Growth Rate | 6.7% |
| Regions Covered | Global |
For more information about this report visit https://www.researchandmarkets.com/r/4hrygb
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