Veterinary Feed Vitamins Market
Vitamins are organic stuff which plays a key role in the normal metabolic process of animals. These are classified as micronutrients and required for maintaining the health of animals. Vitamins have to be provided along with the overall regular diet. These can be taken as pro-vitamins that are converted as vitamins by the animal organism. Deficiency of one or more vitamins leads to multiple malfunctions of normal metabolism which in turn results in the reduced performance, retardation in growth, problems related to fertility.
Increase in humanization and adoption of pets, the rise in care and concern for animals health is the major factor expected to increase in demand for healthy and safe feed for animals. The shift towards protein lean animal diet, rise in consumption of meat, poultry, and dairy products around the world is expected to stimulate the growth of animal feed vitamins market. On the other side, the rise in the cost of feed and supplements used to combine with them and lack of awareness in some regions of the world about animal health are expected to dampen the growth of animal feed vitamins market.
The global Veterinary Feed Vitamins Market is segmented on the basis of animal, types of vitamin, and geographical regions.
Based on the type of animal, the global Veterinary Feed Vitamins Market is segmented:
- Bovine
- Canine
- Swine
- Poultry
- Ovine
- Equine
- Aquaculture
Based on the type of vitamin, the global Veterinary Feed Vitamins Market is segmented:
- Fat Soluble Vitamins
- Retinol (A)
- Calciferol (D)
- Tocopherol (E)
- Menadione (K)
- Water Soluble Vitamins
- Thiamine (B1)
- Riboflavin (B2)
- Nicotinic Acid (B3)
- Pantothenic Acid (B5)
- Pyridoxine (B6)
- Biotin (B8)
- Folic Acid (B9)
- Cyanocobalamine (B12)
Development and improvements of new technologies in formulations of finished products based on feed type and change in the regulatory scenario are expected to accelerate the growth of the industry. Many companies are targeting the Asia-pacific region for expansion of the market, by investing in the new production units or acquisition of well-established small players in the region. R&D investments, an introduction of new products, expansion of distribution channel are major strategies of market players to gain the competitive edge in Veterinary Feed Vitamins Market.
Geographically, the global animal feed vitamins market is segmented into North America, Europe, Asia-Pacific, Latin America, and MEA. Due to over pooling of the population Asia Pacific region and rapid economic growth led to rising in demand for meat which has triggered the significant growth rate of animal feed vitamins market. Brazil is showing significant gains during the foreseeable period owing to rise in disposable income and rise in living standards of the people which boost demand for meat, poultry products which in turn fuel the market growth of animal feed vitamins.
Some of the players in the animal feed vitamins market are Adisseo France S.A.S (France), Archer Daniels Midland Co. (U.S.), Bactolac Pharmaceutical, Inc. (U.S.), BASF SE (Germany), DSM Nutritional Products Ltd. (Netherlands), Pfizer, Inc. (U.S.).
- In March 2017, Novozymes and Boehringer Ingelheim Animal Health came into a strategic collaboration for the development and commercialization of probiotics for poultry production
Report Outline:
- The report provides granular level information about the market size, regional market share, and forecast from 2017-2023
- The report covers in-detail insights about the competitor’s overview, key findings, and their key strategies
- The report outlines drivers, restraints, challenges, and trends that are currently faced by the industry
- The report tracks recent innovations, key developments, and startup’s details that are working in the industry
- The report provides plethora of information about market entry strategies, regulatory framework, and reimbursement scenario
