Feed ingredients: Market outlook
In the modern era, quality is the prime concern over the quantity among producers and also among consumers. Quality is a highly dynamic term, which changes over time. In the global meat market, quality and safety are a major concern among consumers. Recently cattle and poultry farmers are putting more emphasis on enhancing the quality of meat by feeding high-quality feed ingredients. Escalating demand for high nutritional value meat is one of the major factor driving the growth of global feed ingredients market. In the global meat products market, safety is one of the major concern among meat manufacturers owing to stringent rules laid by government organizations during the handling, procurement, processing, storage, and distribution of animal products. The inclusion of high nutritive value feed ingredient into animal feed results in more yield of meat and also containing more protein. On the other hand, cattle farming is one of the booming business opportunity among farmers owing to high return on investment. In the global feed ingredient market, North America and Europe hold the major share in production and consumption of feed ingredients owing to the presence of major cattle farms in the region. Besides, strategic promotion and marketing strategies are also propelling the growth of feed ingredients. With the increasing demand for feed ingredients to enhance the nutritional value of meat products is anticipated to push the feed ingredients market for robust growth over the forecast period.
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Stringent rules and demand for high-quality meat products, is driving the growth of feed ingredients market
Protein and nutrients are very essential in maintaining good health. Increasing demand for proteinaceous diet posed high reliance on livestock and fish for meeting nutrient requirements creating great growth avenue for the growth of feed ingredients market. To counter these challenges, commercial farming of cattle, fish, and poultry for human consumption, are proving to be a pragmatic driver for the growth of feed ingredients market. According to a paper by Moomaw William (Industrial Biotechnology), microalgae have the potential to be used as feed ingredient as a rich source of protein. The study also noted that only a handful of algal species were used commercially currently, and there were significant opportunities that stakeholders could leverage to their advantage. On the other hand, increasing cases of food-borne and zoonotic diseases is expected to fuel demand for feed ingredients over the forecast period. For example, according to data published by the European Food Safety Authority (EFSA), there are approximately 320,000 cases of zoonotic and food-borne diseases occur each year in European countries. Furthermore, in the EU, 220,200 people were reportedly infected with campylobacteriosis (a zoonotic disease which is a result of the consumption of infected broiler meat) in 2012. These factors are fueling consumer demand for adequate gut-friendly feed ingredients such as probiotics, amino acids, and phytogenic nutrients, given keeping animals healthy the natural way.
Global Feed Ingredients: Key Players
Few manufacturers operating their business in the global feed ingredients market are Cargill Inc., Adisseo, BASF, Alltech, Bunge, DSM, Ingredion Incorporated, Novus International Inc., Archer Daniels Midland Company, Sodrugestvo Group S.A., Evonik Industries and others.
Opportunities for Market Participants:
Majority of major retail chains supplying meat products in developed markets such as the U.S., the UK, the Netherlands, and Australia, have raised their product quality and safety measures (for testing purposes) before supplying to the end-consumer. This factor has created tremendous opportunity for the robust growth of feed ingredients in these markets. Also, the urgent need to differentiate products based on superior quality grades is propelling the growth of feed ingredient market. Apart from all the above-mentioned factors, increasing awareness about the benefits of high-quality feed ingredients among the cattle farmers is significantly propelling the demand for high-quality feed ingredients in the coming future.