Global Livestock Supplements Market - 2021-2028
The global livestock supplements valued USD XX million in 2020 and is forecasted to reach USD XX million by 2028, growing at a CAGR of XX% during the forecast period (2021-2028).
Livestock supplements are the vitamins, amino acids, antibiotics, antioxidants, calcium, phosphorus, enzymes, and other nutritional supplements given to animals to increase their products' productivity and nutrient value. Livestock supplements that are given to animals also helps in boosting their immunity, improves their skeletal development and fertility. Cattle supplements are used in a variety of livestock operations, but dairy farmers and beef producers are particularly fond of them. Mineral mixes creep feeding or supplementation of mature livestock with concentrates or roughages are all examples of supplementation. Livestock supplements comes in various forms, such as powder and liquid.
Increasing demand for the consumption of livestock-based products
The livestock supplements demand is increasing around the globe due to ever increasing demand of livestock products as it contains appropriate amount of nutrition. So, it is important to provide them with supplements for their health and to obtain products with more nutrition. As people are becoming more aware of the function and dynamics of food nutrients, particularly protein, on general physical and mental growth and development, there is an increasing trend toward animal-sourced protein in the form of eggs, meat, or milk encourages the use of supplements in feed since they improve the nutritional quality of the diet by improving the overall performance and immunity of cattle.
Additionally, supplements help in combating the various diseases in cattle by providing with adequate number of vitamins and minerals. Calcium is given to livestock for nutrition absorption (cell permeability alteration) and blood coagulation. It is an important mineral for the development of eggshells in poultry-laying flocks. Calcium promotes healthy bone development in cattle, which aids in their growth. Potassium is especially vital for animals. It offers a well-balanced diet and can aid in the prevention of cardiovascular illnesses. Potassium is used to relieve heat stress in agricultural animals. In 2016, the poultry industry for animals such as cattle was 1.7 billion, growing to 1.8 billion in 2019, indicating that cattle production has been increasing to meet the increasing demand for meat. As a result, rising meat demand is predicted to increase the demand for livestock supplements.
The vitamins segment is expected to dominate the market in 2020
Vitamins are the foundation of a well-balanced animal diet. They are necessary and indispensable micronutrients for regular physiological activities such as growth, body development, and reproduction, as well as animal well-being and overall health. Vitamin A is an important nutrient for beef cattle. While grazing green grass, cattle get plenty of vitamin A but during the winter vitamin A may be deficient and should be supplemented. Including vitamin A in a mineral mix is a common and effective method of ensuring cattle get the vitamin A they need. Vitamin D is essential for bone growth and calcium and phosphorus regulation in cattle. Vitamin H helps to increase milk holding capacity, improves milk production & quality, helps to prevent mastitis, useful in growth of young calves, improves egg production in poultry, helps in the overall growth.
Asia Pacific is expected to be the fastest growing region during the forecast period
The increase in awareness of high-quality meat and the related health benefits is driving the usage of supplements in livestock populations in Asia Pacific. Livestock provides a living for 20.5 million people in India, and it accounts for 16 percent of the revenue of small rural households. It supports two-thirds of India's rural population and employs roughly 8.8% of the country's population. The livestock segment accounted for 4.11 percent of GDP and 25percent of total agricultural GDP.
The global livestock supplement market is fragmented. The livestock supplements market is a competitive market and comprises numerous regional and international competitors. Players are also putting a lot of effort into providing consumers with unique features in each of their products. Furthermore, key players are profiting from the market revenue while engaging consumers with innovative and expanding strategies. BASF SE, ADM, Cargill, Yara International and Dallas Keith Ltd are some of the major players of the global livestock supplements market. Kemin Industries launched a new product called Kem-TRACE Chromium-OR in February 2021, which is a stable chromium propionate feed component for pigs, dairy cows, broiler chickens, and horse thins. Nutri Pass L, an example lysine supplement that is rumen-stable and intestinally accessible to cows, was delivered by ADM in July 2020. Through efficient encapsulation, Nutri Pass provides a consistent and stable stock of metabolizable lysine for nursing cows and producing cows.
Positive impact on the global livestock supplements market
The resurgence of COVID-19 has resulted in significant clinical, societal, and financial challenges. The feed industry is focused on assembling safe products for animals that use feed added ingredients to fight diseases by providing invulnerable assistance. As a result of the expanding COVID-19 pandemic flare-up in various areas/nations, the global livestock supplements market in 2020 saw a decrease due to lockdowns in various countries, the termination of global lines, and the postponement of cross-border travel, which has resulted in store network blocks. The closing of restaurants around the world has also had a negative impact on the animal feed industry. Manufacturers have been forced to reassess their policies and tactics in light of the SARS-CoV-2 outbreak, which has caused a drastic shift in consumer purchase patterns. Lamb production, aquaculture, beef, and veal production are among the worst-affected industries. Farmers in the aquaculture industry and cattle producers in the EU have appealed for crisis management measures to help alleviate the effects of Covid-19. As a result, due to the large impact of the COVID-19 pandemic, there was a reduction in the livestock supplements market development in 2020. Slowly, as the restrictions imposed by government actions are likely to be lifted, the market for livestock supplements will likely see a minor increase in the years ahead, up to 2028.
Why Purchase the Report?
Understand the current market scenario and viability of global livestock supplements market over the forecast period
Visualize the composition of the global livestock supplements market in terms of type, livestock and form to identify major players, growth potential, and market strategies
Identify the key regulations prevailing in the market and understand their impact on the market over the forecast period
Understand the key business factors such as market competition, product pricing, new product developments, and patent filings pertaining in the market
What we offer?
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study
Excel data sheet with valuable data points of the global livestock supplements market – Regional and Country level segmentation
Product mapping in excel for the key products of all major market players
Market Share Analysis covering business revenues ($) and revenue share (%) of key market players
The global livestock supplements market report would provide an access to approximately 45 market data tables, 45 figures and 180 pages
Animal Husbandry Companies
Education & Research Institutes
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.Download eBook