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The increasing demand for animal feed and rising number of animals to fulfill the growing demand for animal products such as milk, egg, and meat are predicted to drive the global feed preservative market in forthcoming years. According to the International Feed Industry Federation (IFIF), the animal feed industry goes across the edge of 1 billion metric tons of production and is predicted to continue an upward trajectory as the population continues to rise. The animal feed industry grew by a strong 3 percent in 2018, to 1.103 billion metric tons. The rising production of animal feed will raise the demand for feed preservatives to extend the shelf life of the product and to preserve the nutritional quality of the feed.
The prominent players operating in the market are embarking on the research & development and base expansion strategies to increase their footprint in the global animal feed additives market. For instance, in May 2019, BASF YPC inaugurated the second production plant of the propionic acid at the Verbund site. The total capacity of both plants has been increased to 69,000 metric tonnes every year. Propionic acid is widely utilized as a mold inhibitor in the production of animal feed.
The global increasing incidences of animal feed damage caused mostly due to fungal and bacterial contamination is projected to drive the demand for feed preservative in the upcoming years. Moreover, the feed prepared without the addition of preservatives have shown harmful effects in all classes of farm animals owing to the production of mycotoxins by certain species and strains of moulds which are predicted to boost the demand for feed preservatives. Fungal contagion of animal feeds, especially high-moisture cereal grains such as sorghum, wheat, and others can be stopped by the use of preservatives before the storage. For instance, propionic acid has an excellent property to prevent the growth of mold and formic acid is very effective in preventing the growth of bacteria. Besides from preventing animal feed deterioration too rapidly, preservatives will also add a healthy and nutritive dimension for poultry, pigs, and cattle. The various supportive rules and regulations about the uses of feed preservatives are expected to leverage the market of animal feed preservatives positively. For instance, Food and Drug Administration (FDA) of US permitted use of formaldehyde as animal feed additive to preserve fodders, to maintain animal feeds quality and feed ingredients free from bacteria and to control molds within them. Furthermore, the increasing demand for feed preservatives in the preparation of feed premixes owing to its rising popularity among farm animal producers is expected to positively impact the global market of feed preservatives.
The fluctuating cost of raw materials such as biomass, dextrose, maize, and others which are used for the production of feed preservatives and strict rules about the usage of animal feed preservatives are expected to hamper the growth of global animal feed market.
Key Market Driver -
Rising Incidences of Feed Damage
Key Market Restraint -
Fluctuating Raw Material Prices
The prominent players operating in the global feed preservatives market are Cargill Incorporated, Biomin Holding GmbH, Perstorp Holding AB, Kemin Industries, Inc., Pestell Minerals & Ingredients Inc., Novus International, Inc., Nutreco NV, Impextraco NV, Eastman Chemical Company Nutriad International NV, and Others.
Acidifiers are predicted to witness steady growth in the global feed preservatives market. Acidifiers have been used widely as a microbial preservative in the preparation of animal feeds. The microbiological quality of the animal feed is an important element in animal production since its impact on the productivity and health of the animals. Moreover, the acid is completely digested by farm animals, which is expected to increase the use of acidifiers as a feed preservative. For instance, cows create propionic acid in their rumen as a main byproduct of usual digestion. Anti-caking agents are primarily used to confirm that there no lumps and clots in the feed which will help to provide superior and optimum packaging which will make transportation easier. These properties of anti-caking agent are predicted to boost the utilization of it in the feed preparation.
Ruminants are expected to witness substantial growth in the global feed preservatives market. The increasing production of ruminants worldwide owing to the rising demand for milk and milk-based products will increase the utilization of feed among ruminant livestock producers which is expected to positively impact the feed preservative market. Moreover, the increasing demand for poultry meat owing to its less price and high protein content will boost the utilization of animal feed among poultry producers which is predicted to boost the utilization of feed preservatives to extend the shelf life of the product.
North America is predicted to witness robust growth in the global feed preservative market. The easy availability of raw material such as maize and dextrose within the region is predicted to boost the production of feed preservatives. For instance, the U.S. is one of the leading maize producers in the world. The U.S. reserved approximately 96,000,000 acres of land for maize production and about 13% of its annual yield is exported to the other countries. Moreover, the presence of prominent market players within the region such as Cargill Incorporated, Dupont Nutrition & Health, and others is predicted to boost the market growth.
Asia Pacific is anticipated to witness significant growth in the global market of feed preservatives. The rising growth of cattle and poultry industry as a well-organized sector within the region especially in India and China is expected to boost the demand for feed preservatives within Asia Pacific. Moreover, the positive perception of disease-free bovine meat is expected to increase the utilization of feed preservatives within the region. China is one of the largest meat producers worldwide which is expected to remain a favorable factor for market growth within the region.
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