4 trends that will garner substantial proceeds for oxygen scavenger masterbatch market for food packaging by 2025
Innovations in food packaging sector has been proved to be a great driving force for oxygen scavenger masterbatch market for food packaging. To ensure food safety and edibility of perishable products, several new technological advancements have been made in oxygen scavenger masterbatch industry for food packaging. New packaging materials and techniques preserving quality of food products are also offering impetus to the industry.
Some of the key trends and factors which are expected to propel oxygen scavenger masterbatch market for food packaging by 2025 are as follows:
Increasing consumption of dairy products will foster oxygen scavenger masterbatch market size for food packaging:
Growing concerns over the deterioration of dairy items due to reaction with oxygen has generated the need for the specialty masterbatches in the food packaging sector. Rising demand and consumption of fresh dairy products is likely to offer a push to the oxygen scavenger masterbatch market for food packaging.
Between 2019 and 2030, the global demand growth for milk and milk products is anticipated to be three times the level of current U.S. milk production. Currently, about 876 million tons of milk are produced globally with EU, India, and Oceania among the top producers. Cheese consumption in the U.S. is expected to continue to increase between 2017 and 2022. By 2030, milk production and demand is forecasted to increase in total by 35%, simultaneously expanding oxygen scavenger masterbatch market size for food packaging.
Growing inclination towards meat consumption to lift the share of oxygen scavenger masterbatch market for food packaging:
Besides increasing demand of dairy items, meat consumption and demand is also rising and offering driving impetus to the growth of oxygen scavenger masterbatch industry for food packaging. Global meat consumption increased by 58% over the past 20 years to reach 360 million tons in 2018. Population expansion has been accredited for 54% of this increase.
In the 20 years leading up to 2018, developing countries are credited for approximately 85% of the rise in global meat consumption. Between 1998 and 2018, Chinese consumption of meat increased by almost 72%. In the United States and Australia, meat consumption increased over the same time period because of higher poultry consumption.
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When meat is exposed to oxygen, the meat appears bright red which is identified to be fresh by consumers. However exposure to too much oxygen leads to meat turning brown which is not readily bought by consumers. Therefore oxygen scavenger masterbatch has become an essential part of meat packaging.
Rising adoption of intelligent packaging to expand oxygen scavenger masterbatch market landscape for food packaging:
Due to changes in lifestyle trends and consumer demands in commercialization, packaging has played a key role in preserving fast moving consumer goods. Globally active and intelligent packaging was assessed to amount to more than $4.5 billion in 2018 and is likely to grow at a considerable rate in the times to come. Escalating adoption of active and intelligent packaging will set the oxygen scavenger masterbatch market growth for food packaging in greater motion.
For instance, packaging that can transmit real-time information about the ripeness of fruits packed inside was lately launched at Italian trade fair Macfrut held in Rimini. The latest technology called Smart Ripe has been fostered by Italian company Ilip in collaboration with the University of Turin’s Department of Agricultural, Forest and Food Sciences, a spin-off of the University of Rome Tor Vergata, and Radio6ense.
Ilip has stated that the system leverages a highly sensitive radio-frequency identification (RFID) tag implanted inside the packaging. The tag can sense certain dielectric variations in the fruit pulp related to ripeness, such as acidity, water and sugar content, and turgidity. The technology has the potential to bring new value to fresh produce by ensuring that the consumers get desired shelf-life and product quality.
Flexible packaging to influence revenue share of oxygen scavenger masterbatch market for food packaging:
The key user segments of flexible packaging are beverages, snacks and confectionaries, fresh and frozen foods, dairy products etc. The growth of flexible packaging sector will directly influence the expansion of oxygen scavenger masterbatch market for food packaging. The size of the Indian flexible food packaging sector has been estimated to be $900 million, growing at around 20 percent annually. Replacement of conventional packaging materials like glass, tin, paper, jute etc. with flexible materials in several applications added impetus to the flexible packaging segment. The segment is growing at around 104 percent annually in India and is expected to grow to $482 billion by 2020.
Various packaging needs varying with the type of food item and packaging requirements are going to contribute in the growth of oxygen scavenger masterbatch industry for food packaging. Several technological advancements and innovations are being made by the companies like Ilip that are setting examples for the market players like Clariant, Albis Plastic, Gabriel Chemie etc. to put extra efforts in the direction of development. Increasing demand of meat and dairy products is also a key factor contributing to value of oxygen scavenger masterbatch market for food packaging which is estimated to be over $25 million by 2025.
Author Name : Anchal Solanki
Driven by escalating demands for synthetic antioxidants across global food and cosmetics sectors, the global butylated hydroxytoluene market is currently on the verge of witnessing an appreciable amount of growth in forthcoming years. Increasing investment in the food and personal care products manufacturing industry will impel the market trends.
U.S. Butylated Hydroxytoluene Market Size, By Application, 2018 & 2025, (Kilo Tons)
Butylated hydroxytoluene (BHT) is a compound that impedes autoxidation of any unsaturated organic compounds, furthering their shelf lives be a substantial margin. Owing to these properties BHT is commonly used as a preservative to prevent oxidation as well as free radical formation.
In U.S., Food and Drug Administration categorized BHT among Generally Recognized as Safe (GRAS) additives, which permits the compound its widescale adoption across the food processing industry. Attributing to the GRAS tag, today BHT is utilized as a preservative across a wide variety of foods, including preserved meat products, and chips. In this, regard, growing preference for BHT as additive and food preservative is slated to accelerate product demand across U.S.
Nowadays, owing to the hectic work schedules, people have been preferring packaged food. This trend, subsequently, is turning the working population towards processed food products as they are readily available across supermarkets and do not require cooking or any other preparations to be consumed. Such a growing trend is expected to become a major growth driving factor for the food-grade preservatives industry and by extension, butylated hydroxytoluene (BHT) market.
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According to the Food and Agriculture Organization of the United Nations, the antioxidant properties of BHT also give it an entry into the global animal feed industry. BHT, among others, is commonly used across the animal feed sector to prevent oxidation of feeds as well as feedstuffs.
BHT prevents the rancidity of fats contained in the feedstocks while also inhibiting the destruction of amino acids, vitamin E, D, and A; ensuring that animal feeds maintain their nutritional value. These capabilities have allowed BHT to draw in revenues from the commercial fish food sector over the last two decades.
Moreover, BHT is currently considered as the most efficacious antioxidant utilized across the animal feed industry, which would enable the BHT market to bring in further revenue growth from the animal feeds segment over the forecast timeframe.
In addition to food industry, rising BHT usage in the cosmetic industry has also strengthened butylated hydroxytoluene industry outlook. BHT boasts of a widescale adoption across the global cosmetics industry as an antioxidant and preservative that allows cosmetic products significantly longer shelf lives. Escalating demand for skincare products is projected to majorly drive adoption of BHT in the cosmetics industry.
According to the 2018 L’Oréal annual report, the skincare segment has consistently showcased distinguished growth as compared to other beauty products, frequently outperforming them by a sizable margin. For instance, the L’Oréal annual report highlighted that the skincare segment grew by approximately 9% in 2018 with North American (20%) and Asia Pacific (55%) accounting for a majority of the industry’s share.
Changing climate conditions brought on by global warming is factored in as a prominent growth provider for skin care products. The rapid expansion of upper middle classes across the world, specifically Asia, are some other factors fostering cosmetics industry expansion and the BHT industry share in turn.
All in all, attributing to the integral role it plays across the aforementioned high-revenue industries, BHT is expected to witness further demand as a preservative and an antioxidant. In fact, according to a Global Market Insights, Inc., research report, the butylated hydroxytoluene market size is slated to surpass an overall valuation of $380 million by 2025.
Author Name : Akshay Kedari
Increasing demand for poultry in countries like the U.S. and China will drive the global refined functional carbohydrates market size in the upcoming years. Lately, people are becoming aware about animal health and the impact of consuming the meat from infected animals, and are subsequently feeding animals with highly nutritious food. A great number of animals are commonly afflicted UTI, which can also be cured with RFCs. Rising need to consume healthy animal products and enhance overall feed efficiency will augment refined functional carbohydrates market to witness growth.
U.S. MOS Refined Functional Carbohydrates Market Size, By Application, 2018 & 2025, (Tons)
Rising need for processed food is likely to drive the industry trends. As a rule, grains, vegetables, meats and fish are unpalatable in their raw state, and some foods, such as cassava, are dangerous if eaten without processing. Processing can also help to decrease food waste by extending shelf life of the food. Without processing, as much as 50 to 60 percent of fresh food can be lost between harvest and consumption.
India’s export of processed food was INR 31,111.90 Crores in FY 2018-19, including the share of products like mango pulp, processed vegetables, cereals, and many more. The preference for processed food is likely to grow in the years ahead and increasing production will provide a push to refined functional carbohydrates market share.
Owing to the beneficial use of RFC for improving egg production efficiency, the demand for refined functional carbohydrates is likely to increase across layer industry. Substantial benefits of RFCs for animals will prove to be a major growth driver of refined functional carbohydrates industry landscape.
RFCs act as a prebiotic and boost the growth of healthy bacteria in the gut. Lack of enough prebiotics can result in health issues such as devitalized immune system, lower pH and a poor digestive system. Rising demand to maintain good gut health in animals will drive RFC industry share.
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D-mannose is one of the most vita RFC products. Being an essential glyconutrient, D-mannose is widely used to cure UTI in animals. Apparently, almost 14 percent of dogs experience a UTI during their lifetime, with an increased risk observed in spayed females.
The most common cause of UTI is a rising infection affecting normal bacteria present in the distal urogenital tract. Around 42% of dogs with hyperadrenocorticism, diabetes mellitus, or both diseases have been observed with concurrent UTI. Increasing demand of D-mannose across animal feed industry will drive refined functional carbohydrates industry over the years ahead. As per estimates, D-mannose refined functional carbohydrates market size is likely to witness a consumption of more than 3 kilo tons by 2025.
Regionally speaking, China D-mannose refined functional carbohydrates market demand is expected to grow at a CAGR of more than 4% over 2019-2025, owing to the momentous progress in the consumption of poultry and pork meat in the country. In 2019, chicken meat production in China is predicted to reach 12.65 million metric tons, representing 8 percent year-on-year growth.
China is currently the world’s second largest poultry consumer after the United States. Despite the highly pathogenic avian influenza (HPAI) ban on key suppliers of animal products, owing to the unmet domestic demands in 2019, Chinese imports are anticipated to grow by 32 percent to 450,000 MT. Rising demand for meat has led to the increased requirement of proper diets for animals which will accelerate the growth graph of refined functional carbohydrates industry.
The U.S. is another region that is expected to contribute considerably to refined functional carbohydrates market. As per estimates, U.S. beta glucan refined functional carbohydrates market size may register a CAGR of 6% over 2019-2025, owing to the fact that the incorporation of beta glucan in animal feed helps to cure various problems such as high cholesterol and skin irritation. The country has also been reported as the world’s largest poultry consumer, which will further augment regional industry growth.
The rapidly increasing demand for poultry food worldwide will significantly push the growth graph of refined functional carbohydrates industry. Growing requirement of processed food will also have a major impact on the expansion of refined functional carbohydrates market. According to a research report by the Global Market Insights Inc., refined functional carbohydrates market size may exceed $300 million by the year 2025.
Author Name : Anchal Solanki
Non-protein nitrogen in feed market to surpass the billion-dollar benchmark by 2024, Urea to drive the product matrix
Endorsing a wide application scope in fodder business space, the profitability quotient of non-protein nitrogen in feed market is projected to substantially upscale in the coming years. Over the past few years, animal nutrition has managed to grab a bigger role than anticipated. Manufacturers across the world have been increasingly investing in R&D activities to develop a palate of new protein sources which expectedly would widen up the non-protein nitrogen in feed industry opportunities. In this regard, it is prudent to mention that protein-rich leguminous fodders are usually not extensively grown in many areas, which are prone to attack by ruminants, as they are comparatively more expensive than non-protein nitrogen sources. The growth of non-protein nitrogen in feed industry can be fundamentally credited to this factor. Global Market Insights Inc., forecasts the overall non-protein nitrogen in feed market size to record a valuation of over USD 1 billion by 2024.
U.S. Non-protein nitrogen in feed market, By Product, 2013-2024, (Kilo Tons)
Speaking of commercialization potential of non-protein nitrogen in feed industry, it is nothing but enormous. The increasing consumption of meat bears an evidence to the fact. As per estimates by WHO, annual meat production will surpass 376 million tons by the end of 2030, which is an exceptional rise from that recorded in the year 1999- 218 million tons. The world population presently consumes 75 pounds of meat per person annually, as cited by the Organization for Economic Cooperation & Development. The sharp incline in the meat consumption has undoubtedly left a perpetual impact on the demand for non-protein nitrogen in feed market. A recent report brought forth by U.S. Food and Agriculture Organization claims that global meat production will be 16% higher in 2025, from that what it recorded over 2013-2015. These statistics quite profoundly depicts the increasing pressure on livestock breeding to address the increasing demand for animal nutrition, indirectly leaving a subsequent impact on non-protein nitrogen in feed market share.
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The most common non-protein nitrogen source which is extensively deployed in ruminant feeding is urea. Though there are other sources that have been experimentally and commercially deployed, urea holds quite a prominent position in the global industry landscape. Estimates depict, overall non-protein nitrogen in feed market share from urea accounted for a revenue of USD 550 million in 2016. Some of the prime factors that have driven non-protein nitrogen in feed market share from urea include higher nitrogen content of almost 46.7%, reduced live weight loss, low cost, and increased intake of dry roughage. In addition to this, being the building blocks of non-protein sources, it can be easily fed to ruminants as a replacement for a part of protein in a ration. The ability of micro-organisms present in the rumen of sheep and cattle to utilize these non-protein sources or urea eradicates the requirement of imported protein supplements, with no hazardous impact on animal health. Having procured almost 75% of the overall non-protein nitrogen in feed industry share, urea is slated to drive the product landscape in the coming years. However, urea toxicity and stringent regulatory framework pertaining to its production in some areas might hamper the industry growth to some extent.
However, changing healthcare dynamics and food preferences are some of the pivotal factors providing a significant push to the global non-protein nitrogen in feed industry trends. In this regard, Asia Pacific has established a strong foothold in the worldwide fraternity, with increasing proliferation of advanced technology for effective synthesis of protein from non-protein sources. In fact, estimates claim a humongous portion of urea to be consumed in Asian countries like India, China, and Japan, to maintain and boost livestock health and nutrition, particularly ruminants. A subsequent rise in research investments from international producers as well as spreading awareness regarding the usage of nutritious forage has led APAC non-protein nitrogen in feed industry size to record a valuation USD 400 million in 2016. The exponential rise in the livestock population over the past couple of years will certainly propel the regional market demand to great heights in the years ahead.
Worldwide, non-protein nitrogen in feed industry encompasses a host of renowned biggies including Yara International ASA, Incitec Pivot, Archer Daniels Midland Company, The Potash Corporation of Saskatchewan, and Borealis. The marketplace seems to be pretty much consolidated with leading giants’ relentless effort in strengthening their business position by underlying various growth strategies such as joint ventures, product differentiation, production capacity expansion etc. An upswing in global meat production, subject to its increased consumption undeniably remains one of the principal factors driving non-protein nitrogen in feed market size. Moreover, the expansion in supply chain and technological advancements with regards to product manufacturing are further expected to carve a lucrative roadmap for non-protein nitrogen in feed industry over the ensuing years.
Author Name : Satarupa De
North America food pathogen testing market to witness substantial gains over 2017-2024, a stringent regulatory framework to stimulate product demand
Food pathogen testing market has now evolved into one of those fraternities that mandatorily demands an excessive requirement for sanitation at every stage of production, thereby necessitating the requirement for highly efficient pathogen removal processes. Pathogen testing tools are quite prominently used across the food product manufacturing sectors – right from the pre-process of raw material testing to the manufacturing of the end-product. The evolution of pathogen testing methods has delivered multiple benefits to the food vertical, which would undeniably impel food pathogen testing industry size. Given that the prevalence of health risks associated with contaminated products may impact negatively on the business, food manufacturers have been taking utmost precautions to deploy efficient pathogen testing methodologies during production, thereby carving out a positive growth path for food pathogen testing market in the years ahead. For the record, estimates claim food pathogen testing industry to have held a revenue of USD 3 billion in 2016.
U.S. Food Pathogen Testing Market, By Contaminant, 2013-2024, (Million tests)
The emergence of new technologies in food pathogen testing market has pushed the conventional pathogen test methods to next level. Considering the benefits of technological interventions, these advanced methods are being instantly accepted across the food and beverages industry. In North America, for instance, F&B sector behemoths have been giving high preference to pathogen testing methods pertaining to the growing use of genetically modified organisms and high medical expenses. This may perhaps be one of the key factors augmenting North America food pathogen testing industry size, which, as per a report compiled by Global Market Insights, Inc., will collect a revenue of more than USD 2 billion by the end of 2024.
Apart from the recent advancements prevalent in food pathogen detection, it has been observed that there are myriad opportunities and challenges to enhance the already existing technology in this business. Many players in food pathogen testing market though, prefer looking out for newer techniques and biosensors for food pathogen detection. Client partnerships with pathogen testing service providers are commonplace in food pathogen testing industry, to avoid product contamination. For instance, SGS, a leading verification, inspection, certification, and testing company plans to provide its services to the pet-food manufacturers in United States and Canada with regards to Salmonella contamination, to prevent health risks in pets. For the record though, in 2016, food pathogen testing industry size from salmonella contamination was valued at USD 1.2 billion. This may be attributed to the increase in the number of food borne diseases, subject to the presence of Salmonella in food products. Similar to SGS, many other prominent players in food pathogen testing market such as Bureau Veritas, SGS, Eurofins Scientific, RapidBio Systems, Inc.™, Intertek, Lloyd’s Register Quality Assurance, Inc., Det Norske Veritas, Genon Laboratories Ltd., and Microbac Laboratories have been observed to undertake efforts with regards to innovating novel pathogen testing methods.
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Taking into account the risks associated with foodborne diseases, the regulatory bodies of various countries have been enforcing strict norms to mandate the deployment of pathogen testing methods. In the U.S., Food and Drug Administration has formed the Food Safety Modernization Act (FSMA) to enhance the food safety system for public health protection. With the FSMA, FDA has also been able to collaborate with other domestic as well as foreign government agencies to build integrated food safety systems, which will prompt other governmental bodies to adopt food pathogen testing techniques, inherently propelling food pathogen testing market.
The governmental bodies across the Asia Pacific are strongly focusing on extensive research and development activities, owing to the rapid growth of the chemical and food processing sectors in the region. In addition, food pathogen testing industry players, having established their bases in the APAC belt, have also been striving to expand their reach across the frontiers and strengthen their customer pool. Recently, for example, Thermo Fisher Scientific Inc. acquired a leading contract development and manufacturing company, Patheon N.V., which has helped the former expand its customer base across the biotechnology and pharmaceutical sectors. These growth strategies are evidence enough to prove food pathogen testing market is likely to carve out a lucrative growth path in the years ahead.
Author Name : Sunil Hebbalkar
Food safety testing market outlook: Rising food safety & security concerns to significantly influence the growth over 2016-2024
Increasing threats over food consumption have stimulated global food safety testing market and generated demand for effective test products that can ensure food safety. Food supply worldwide is facing a range of risks from environmental toxins, bacteria, and food allergens. Food safety testing industry size has been growing substantially, owing to the increasing threat of foodborne illness, and stringent food safety regulations. Moreover, expansion of import and export business of food supply across the globe is expected to further boost the demand for food safety testing market. According to Global Market Insights, Inc., “Food Safety Testing Market size worth USD 9 billion in 2015, is estimated to grow at a CAGR of 7% over the period of 2016-2024.” The food safety testing industry growth will also be influenced by the expansion of global processed food industry which is anticipated to surpass USD 7 trillion by 2024.
U.S. Food Safety Testing Market size, by contaminants, 2013-2024 (USD Million)
The most common source for contamination of food is pathogens. These pathogens can cause various gastrointestinal disorders such as abdominal cramps, vomiting, diarrhea and nausea leading to increase in illness and death of around 2 million people every year. Growing food epidemic has mandated the laboratory testing for Salmonella, Listeria, E. Coli, Campylobacter types of pathogens, in turn making food pathogen testing market to be a major revenue pocket accounting for 30% of the global demand. Pesticide is another type of contaminant causing health disorders. The pesticide food safety testing market worth USD 800 million in 2015, will witness substantial growth, owing to regulatory norms in using of certified and organic pesticides.
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Contaminated food is a very serious issue which may result into demise. As per WHO’s statistical report in 2014, over 2.5 million people died due to diarrheal diseases. Moreover, U.S is facing an alarming rate of increase in foodborne illness resulting into nearly 5 thousand deaths and more than 325 thousand hospitalizations every year. This has generated the need to implement quality and safety checks, where consumers have the authority to trace their ready to eat meals, processed products, bakery, preserved & canned products. In this regard the EU and FDA have given conformities with consumers’ rights to track food through all production and distribution stages, in turn driving the food safety testing industry. In addition, major food regulatory bodies and authorities such as Good Hygiene Practices (GHP), Good Manufacturing Practices (GMP), Hazard Analysis Critical Control Point (HACCP), and Good Agricultural Practices (GAP) are extending extensive support in ensuring food authenticity, thereby, propelling the food safety testing market growth.
The food safety testing technology market has witnessed a noticeable shift towards rapid food safety testing technology market from the time consuming traditional food safety testing industry. Increase adoption in biosensors, ELISA, rapid culture detection, and PCR-based techniques are widely adopted technologies used to examine the count, metabolites, and type of micro-organisms.
The growth in food safety testing market is also poised to benefit from increasing consumption of meat, poultry, and dairy products. Unhygienic condition while skinning and handling animals in slaughter house is the key responsible factor favoring the meat and poultry food safety testing market. Similarly, dairy products can also get easily contaminated through infected animals. Regulatory bodies such as the FSIS and HACCP are taking major steps in preventing meat & poultry product contamination and implementing adequate pasteurization of dairy products stimulating the food safety testing industry share.
Europe food safety testing market valued over USD 2.5 billion in 2015, with U.K and Germany leading the regional demand. Increasing consumer awareness and stringent food safety regulations will boost the demand for Europe food safety testing market over the coming years. Asia Pacific food safety testing industry will emerge rapidly due to rising population, growing demand for food products, and increasing stringent regulations for food safety. China being the major export trade market is anticipated to witness annual growth rate of 11% over the period of 2016-2024.
The food safety testing market is consolidated with top three players sharing 45% of the overall business space. The key industry participants include Intertek, Bureau Veritas, SGS, Det Norske Veritas, Eurofins Laboratories, Idexx Laboratories, ALS Laboratory and Bio-Rad Laboratories.
Author Name : Ojaswita Kutepatil
Animal feed additives market to amass appreciable gains over 2017-2024, Asia Pacific to contribute majorly toward industry expansion
Animal feed additives market, which is strongly characterized by the presence of established industry giants, has been witnessing phenomenal advancements in terms of feed quality and product diversification, over the recent years. The substantial upsurge in livestock breeding and rising global meat consumption are some of the important factors that have prompted companies to come up with new products and make considerable investments in R&D activities. Speaking along similar lines, it would be important to take note of an instance that provides a significant testimony to the aforesaid statements. PMI Nutritional Additives, a renowned animal feed additives industry player, recently made it to the headlines with the launch of Peloton, its novel yeast feed additive, which claims to maintain the rumen health and digestive efficacy of livestock. For the record, PMI’s unique Peloton yeast feed additive is a thermal stable blend of the company’s Fulfill feed additive and Saccharomyces cerevisiae yeast. This activated yeast has also been reported to facilitate microbial protein flow from rumen to lower gastral track, thus supporting the gut health and integrity. In effect, analysts deemed the introduction of Peloton to reinforce PMI’s portfolio and further expand its research scope in launching such innovative products. Amidst a backdrop of such documented instances of product innovations & enhancements, it is quite overt for the animal feed additives industry to witness remarkable growth avenues in the ensuing years.
China Animal Feed Additives Market Size, By Product, 2016 & 2024 (USD Million)
Estimates claim that there has been a subsequent surge in the demand for meat and meat products at a global level. In fact, statistical reports state that the global average meat consumption has surged to 41.90 kg per person per year, which is majorly driven by the poultry demand. As animal feed additives play a vital role in poultry diets to improve the overall integrity of lower gastrointestinal track of the livestock, the rising meat consumption is in turn working in the favor of expanding business scenarios. In fact, industry experts anticipate the animal feed additives market from the poultry application to generate a remarkable valuation of over USD 10 billion by 2024.
Speaking of the growing demand for nutritional additives from the poultry application, China is one of the most lucrative growth grounds for animal feed additives industry expansion. High livestock production and extensive animal breeding in the region has been identified as the two crucial factors fortifying the regional animal feed additives market demand. The increasing meat consumption in China has, in turn, prompted the regional industry players to incorporate additives for maintaining the quality of meat. According to reports, the meat consumption in China exceeded 50 kilo tons in 2016 and is further anticipated to surpass 60 kilo tons by 2024. With other countries, such as India, Malaysia, Thailand, and Indonesia following similar growth patterns with regard to massive livestock production, the animal feed additives market, across the Asia Pacific belt, is certain to account for above-average growth. It has been reported that in the year 2016, Asia Pacific witnessed highest feed production capacity, surpassing 350 million tons.
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It would be prudent to mention that the growing consumer demand across these continents have expanded the scope for animal feed additives market participants and have encouraged them to expand their global reach. According to research study, new product launches and M&As have been the most adopted strategy by the animal feed additives industry players. For instance, in a bid to strengthen its position in the global animal feed additives market, Coppens International recently unveiled its product breakthrough for aquatic feed additives. Elaborating further on this move, the company introduced several new algae products that replaced the use of fish oil and inorganic trace minerals in the additives. The new product range introduced by the company in the regional animal feed additives market comprised ForPlus, Bio-Mos, Bioplex, and Actigen, which are designed to strengthen gut integrity, promote good bacteria, and optimize overall fish health.
Taking into account the aforementioned trends, it is quite overt that the animal feed additives industry dynamics are majorly influenced by the rising meat consumption leading to further rise in livestock production. Moreover, given the changing food habits, it wouldn’t be wrong to say that animal feed additives market size surge has been synonymous to growing appetite for protein rich food. However, this is not the only reason that is promoting the use of additives in animal feed. Industry experts also illustrates the growing concerns of disease outbreaks in livestock to be a crucial factor for incorporating additives in animal fodder. Bird flu, animal foot & mouth infections, and swine flu are some of the popular plagues that have taken the world by storm in past decade. In this scenario, proper care of animal health, while incorporating nutrition & antibiotics in animal feed, has been prevalent worldwide, in turn impacting animal healthcare market. Given the pivotal role that these additives play in boosting animal health and eliminating the toxic effect, the expansion of animal feed additives industry has been quite imperative. Indeed, there is satisfactory data that supports the growing animal feed additives market share, which according to reports, is claimed to attain a global valuation of USD 25 billion by 2024.
Author Name : Ojaswita Kutepatil