Vitamins are supplements included in the animal feeds in small amounts for the overall growth, well-being and performance of the livestock. These are externally supplied to the animals to enhance growth and yield of animals. Deficiency of vitamins can be adverse to the health of the animals and will also lead to a wide range of diseases. The global feed vitamin market is estimated to cross USD 1980 million by 2021 growing at a CAGR of 1.8% during 2017-2022.
Vitamin supplements are considered necessary in animal feeds for all kinds of livestock, and this has traditionally fuelled the animal feed vitamins market. An increase in the demand for quality meat, developing markets, health concerns & disease outbreak in livestock have driven the growth of the market globally.
Vitamin nutrition is considered a dynamic process with emphasis on getting the optimum balance and dosage depending upon various factors like age, health, climate and condition of the livestock. Innovation and research in developing a multi vitamin, all-purpose alternatives has been pushed to the fore to capitalise on the current growth trends in the international markets.
Vitamin E and Vitamin B are the most consumed Vitamins types in animal feed as of 2016. Asia-Pacific is the largest market for animal feed vitamins owing to the massive livestock population in the region. Poultry feed is the biggest segment of the feed vitamin market, accounting to over USD 667.57 million in 2015. It is also the fastest growing segment of the market, growing at a CAGR of 1.95% over the forecast period. This high growth is mainly due to increased demand for high-quality meat and increased mass production of white meat.
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