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Description
Medicated Feed Additives Market was valued at USD 12591 million in 2021 and is projected to reach USD 16372 million by 2028, at a CAGR of 5.44% during 2022-2028. Any mixed feed or manufactured feed that consists of active pharmaceutical ingredients intended to promote growth or feed efficiency in order mitigate, cure, prevent, or treat diseases of animals. Increased global population and their need for protein-rich food are created demand for medicated food. There are three types of medicated feed additives Type A, B, C. An upsurge in the demand for protein-rich food enables increase production of poultry and cattle production is expected to increase medicated feed additives market. Moreover, increased awareness among the people is expected to attract the demand for medicated feed additives. Rising pet lovers coupled with increased expenditure on animal health is anticipated to create demand for a market. However, stringent regulations are expected to acts as bottlenecks for the market revenue growth over the forecast period. Tremendous changes in the animal feed industry, adoption of pre-mixed feed to provide nutrients to the cattle, poultry feed, swine, others are creating demand for market players plunged into medicated feed additives market. The limited number of players in the medicated feed additives is expected to enhance the supplier power. Players are focused on strategic alliances to expand the geographical footprints and to maintain the stewardship. Increased R&D investment is able to offer innovative products to the market. Favorable regulations in the animal healthcare and innovative technologies and expanded applications to the veterinary healthcare are anticipated to create lucrative opportunities over the forecast period. In May 2017, Zoetis has expanded manufacturing and global supply capacity in Kalamazoo, Mich.
