Increasing investments in R&D capabilities of the key players for innovating new medicated feed additive products, along with the increased expenditure on innovating new and cost-effective production processes of medicated feed additives is expected to change the business landscape in the next six years.
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On the basis of type, the enzymes segment is projected to grow at the highest growth rate from 2016 to 2022. The demand for feed enzymes is increasing as they are used for the development of the immune system and bones of animals. To meet the increasing demand for meat and milk products, the commercial feed additive companies are constantly investing in production facilities that focus on the health of the livestock.
On the basis of livestock, the poultry segment accounted for the highest consumption of the medicated feed additives in 2015. On a global level, the total poultry production has been increasing, and with the growth in poultry production and consumption, it has become important for meat producers to focus more on its quality by using different supplements.
On the basis of mixture type, the concentrates segment is projected to grow at a higher growth rate in the global medicated feed additives market from 2016 to 2022. Medicated feed concentrates are substances mixed with other feed materials to form either a supplement or a complete feed. Concentrates are less bulky and have higher digestibility. They are a concentrated source of nutrients and therefore have higher nutritive value than fibrous fodder.
Category I of medicated feed additives is a widely used category as it does not requires withdrawal period at the lowest continuous feeding level for any approved animal. Moreover, the category I drugs do not require licensing for manufacturing.
Asia-Pacific is projected to be the fastest-growing market for medicated feed additives between 2016 and 2022. The Asia-Pacific market experiences the maximum consumption of medicated feed additives due to the increasing population and rise in epidemic outbreaks in livestock. Key players focus on research & development to develop products conforming to European regulations for medicated feed additives, since these regulations are considered to be benchmarks in terms of certain feed additives such as antibiotics.
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