Market Size of Medicated Feed Additives Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 12.47 Billion |
| Market Size (2029) | USD 16.29 Billion |
| CAGR (2024 - 2029) | 5.50 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Medicated Feed Additives Market Analysis
The Medicated Feed Additives Market size is estimated at USD 12.47 billion in 2024, and is expected to reach USD 16.29 billion by 2029, growing at a CAGR of 5.5% during the forecast period (2024-2029).
The market was negatively impacted by COVID-19 in 2020. The global pandemic has shown an impact on the proper functioning of various industries in various regions. It affected customs clearances, export permits, import permits, and phytosanitary certificates. This was primarily due to reduced staffing of government offices, which delayed the consignments meant for trade and reduced the availability of several medicated feed additive products to the farmers. Suppressed demand from the food joints and increased transaction costs is expected to have a knock-on effect that will push the cost of the medicated feed additives production up across the world during the forecast period.
Over the medium term, increasing incidences of zoonotic and foodborne diseases, which have high chances of being naturally transmitted from animals to humans, led to the rising usage of the key feed additives that can minimize the occurrence of such diseases in farm animals. Medicated feed additives improve the quality and nutritional content of the feed. These additives help in the growth and development of animals and increase feed intake. An increase in the awareness of high-quality meat, which is rich in nutrients, has resulted in an increase in the usage of medicated feed additives.
The increases in health awareness in Asia-Pacific led to a surge in demand for plant and animal proteins. However, the recent epidemic outbreaks have made meat quality a critical issue, especially in regions like Europe and North America. The increase in applications of animal protein in the region exerted massive pressure on livestock farmers, who are gradually shifting to various scientific methods of farming.
