Animal feed additives can be defined as products that are added to livestock feed to improve their health and performance. Growing meat consumption, coupled with the increasing concern related to livestock diseases, drives the market growth. Additionally, the ability of these additives to improve the metabolic activities and provide essential nutrients to the livestock provides an impetus to the market growth. However, stringent regulations related to the use of antibiotics as growth promoters in animal feed hamper the market growth.
Impact of COVID-19
The COVID-19 outbreak has severely impacted and reshaped the norms of the meat industry. Rising prevalence of animal-related diseases is subsequently decelerating the meat demand on account of the rising customer concern regarding their health. This has also resulted in a shift in the consumer preference towards plant-based proteins, further hampering the market growth. Additionally, the meat industry is witnessing a sharp increase in the prices of meat, especially beef and pork, due to disruption in the supply chain, creating price volatility in the meat market and decelerating the meat consumption.
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Animal Feed Additives Market: Segmentation
By Feed Type
By Distribution Channel
Animal Feed Additives Market: Regions Covered
Central and South America and the Caribbean
The Middle East
" Crucial Insights The Report Provides:"
* Known and Unknown Adjacencies Influencing the Growth of Market
* Explorable Revenue Sources
* Customer Behaviour Analysis
* Target Partners
* Customized Geographical Data Based on Customers as well as Competitors
* Analysis of Market Size and CAGR between the Forecast PeriodsView Full Report Buy This Report Now