Impact of Covid-19 on Animal Feed Market 2020
The coronavirus disease (COVID-19) pandemic outbreak is rising high and inflicting human life worldwide. Saving lives is demanding lockdowns, isolation, and widespread closures to slow down the spread of the virus. The coronavirus disease crisis is impacting on global economic activities.
Since feed plays a major role in the production of different livestock animals, feed additives act as a key ingredient in the production of nutrition enriched feed. This nutritional based feed helps livestock in their health management, reproduction, lactation, and brand equity.
Due to the pandemic and lockdown, the supply chain of the raw ingredient has impacted the consumption and production patterns worldwide. Animals cannot get enough nutrition from regular feed hence the feed additives are added in their regular meal containing vitamins, fatty acids, amino acids, and trace minerals.
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Global Feed Minerals Market 2020 research report presents analysis of market size, share, and growth, trends, cost structure, statistical and comprehensive data of the global market. Research reports analyses the major opportunities, CAGR, yearly growth rates to help the readers to understand the qualitative and quantitative aspects of the Global Feed Minerals Market. The competition landscape, company overview, financials, recent developments and long-term investments related to the Global Feed Minerals Market are mentioned in this report.
Each segment of the global Animal Feed Enzymes Market is extensively evaluated in the research study. The segmental analysis offered within the report pinpoints key opportunities on the market within the Animal Feed Enzymes market through leading segments. The regional study of the global Animal Feed Enzymes market included in the report helps readers to gain a sound understanding of the development of different geographical markets in recent years and also going forth. It includes several research studies such as manufacturing cost analysis, absolute dollar opportunity, pricing analysis, company profiling, production and consumption analysis, and market dynamics.
The COVID‑19 and Livestock Market Systems:
The impact of COVID‑19 on livestock-based economies in the Horn of Africa report presents findings for a five-country study conducted by Mercy Corps in May and June 2020. Mercy Corps monitored livestock systems in Somalia, Ethiopia, Kenya, Uganda and South Sudan to understand the interplay of diverse market forces as influenced by COVID‑19 mitigation measures, as well as seasonality, locusts and Rift Valley Fever (RVF). This study focused on live animal, meat and milk value chains originating in the ASAL areas as well as major domestic and export consumer markets. Information was collected through existing programs and augmented with key informant interviews.
This report aims to fill knowledge gaps and offer recommendations to support coping and recovery.The Animal Feed Market (COVID-19 Impact Analysis) 2020 Industry Report makes available an exhaustive overview of product specification, technology, product type and production analysis considering major factors such as revenue, costing, and gross margin. This market report also studies the market status, market share, size, growth rate, demand, revenue, future trends, market drivers, opportunities and challenges, risks and entry barriers, sales channels, and distributors with the Porter's Five Forces analysis. Thus, the transparent, trustworthy and extensive market information and data included in this report will definitely help develop business and improve return on investment (ROI). The study objectives are to present the Animal Feed development in North America, Europe, China, Japan, Southeast Asia, India, and Central South America.
Market Analysis and Insights: Global Aquafeed Additives Market
Aquafeed additives market is expected to reach USD 83.81 billion by 2027 growing at a growth rate of 8.12% in the forecast period of 2020 to 2027. Increasing demand for seafood across numerous regions is the factor for aquafeed additives market in the forecast period of 2020 - 2027.
Increasing preference for plant-based additives, growth in the aquaculture industry, rise in seafood trade, benefits associated with feed acidifiers, better protein digestibility, healthier immune response, increased resource competence in aquaculture, growing demand for exotic and protein & omega 3 enriched fish species are some of the factors that will likely to enhance the growth of the market in the forecast period of 2020 to 2027. On the other hand, rising government initiatives and improvement of innovative products as a source of protein will further create new opportunities for the aquafeed additives market in the above mentioned forecast period.
Fluctuation in the cost of raw materials is the noted limitation for the growth of aquafeed additive market. On the other hand, growth in environmental and health concerns will act as challenge to the growth of the market in the forecast period of 2020 to 2027.
The pandemic have affected the overall animal nutrition in three different ways considering:
· The demand of the meat products
· The production of feed
· The supply chain market disruption
· The financial impact on feed vendors
Animal Feed Market 2020-2024: Segmentation
Animal Feed is segmented as below:
· Product
o Poultry
o Swine
o Ruminant
o Aquaculture
o Others
· Geography
o North America
o Europe
o APAC
o MEA
o South America
This report on the global Animal Feed Market delivers an easily accessible roadmap to evaluate a league of factors and influencers such as untapped market opportunities and trends that carve a favorable growth timeline for the Animal Feed Market.
Conclusion
COVID-19 pandemic has taken a toll on the global population and economy. A collaborative effort on government, public health departments, and hospital fraternity to fight the coronavirus has led to economic slowdowns, global lockdowns, and extreme public safety measures. The public health measures include creating awareness about home quarantine measuring, maintaining food and healthcare supply, especially to the poor are being strictly followed by government across the world. Along with the food and healthcare industry, the feed industry is facing problems due to the non-working manufacturing industry. The demand for feed for livestock is high as the maintenance of livestock is an important aspect for breeders. This has increased the reliability on plain feed for animals without the addition of the nutritive value of the feed resulting in a loss in the business. The livestock industry has affected due to pandemic situations which in turn affected the feed additive industry as a result of reduced demand from breeders. Moreover, the poultry industry was battling with the rumors of the spread of COVID-19 through consumption of meat which impacted the market for poultry that affected the feed market in turn hampering the demand for feed additives. However, with the awareness and true information floating on various websites is expected to drive this market globally. Most of the manufacturers have started selling their products on online websites which are estimated to drive the market for online delivery sites and thus, manufacturers of feed additives.