Government Regulations on Food Safety to Drive North America Animal Feed Additive Market to $ 2.2 Billion by 2023: TechSci Research
According to TechSci Research report, “North America Animal Feed Additive Market By Type, By Livestock, By Country, Competition Forecast & Opportunities, 2013 – 2023’’, North America animal feed additive market is forecast to reach $ 2.26 billion by 2023, owing to increasing consumption of animal meat, which is leading to higher production of livestock across the region. Growing government regulations pertaining to food safety has coaxed manufacturers of feed additives to comply with the new regulations that analyze risk-based preventive control for animal food manufacturing facilities. Continuous water shortages have led to intense use of animal husbandry for crop production instead of techniques like animal fodder that use more water, which is anticipated to aid the animal feed additive market in the region.
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North America Animal Feed Additive Market |
Growing consumption of protein rich food is being witnessed in North America, on account of rising consumer focus on health and reducing risks of diet-related diseases. Amino acid type of feed additives is among the most popular product categories, followed by vitamin additives, as both the additive types aid significantly in meeting the nutritional requirements for animals. Poultry sector generates the largest demand for animal feed additives, owing to huge production of guinea, geese, chicken, pigeons and other domesticated birds across the North American region.
“Enzyme additive segment is expected to grow at the fastest pace in the North America animal feed additive market during the forecast period, mainly due to increasing reluctance to use antibiotic growth promoters, owing to strict government regulations. The subsidies implemented on meat exports in countries like the United States are also driving various meat manufacturers to increase their meat production. As a result of growing population in the country, demand for meat and milk products would continue to increase in the coming years, which in turn is anticipated to aid animal feed additive market in the US over the course of next five years.”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“North America Animal Feed Additive Market By Type, By Livestock, By Country, Competition Forecast & Opportunities, 2013 – 2023” has evaluated the future growth potential of animal feed additive market and provides statistics and information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in the North America animal feed additive market.
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