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In a recently published report, Veterinary Medicinal Feed Additives Market report for till 2030. The report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U S Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mention the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Veterinary Medicinal Feed Additives Market products.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
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Moreover, increase in ICT spending around the globe for hardware, software, services, new technologies and telecom among others is also anticipated to contribute to the growth of the market in the coming years. The spending on new technologies recorded around USD 0.6 million in 2018 and is further estimated to reach close to USD 1.3 million by 2023. The total ICT spending around the globe further recorded close to USD 5 million in 2019 and is further.
Feed additives are food supplements for farm animals to compensate for the lack of certain nutrients from regular meals and improve their health. The nutritional values of such animal feeds are influenced by their nutrient content, feed presentation, hygiene, digestibility, effect on intestinal health etc. The end users are primarily the farms houses, animal breeders and researchers.
Market Dynamics:
The following factors are significant in deciding the fate of the market:
Market Drivers:
Various kinds of animal meat are widely consumed all over the world. Increase in the health consciousness of the consumers and their focus on the food safety is the major driver for the market. With the increase in pet ownership globally combined with the acceptance of the pets as family members; more and more people are purchasing these products for the well being of their pets. Due to the rising disposable incomes in the developing nations and premiumnisation' people are gladly purchasing the branded products over the local ones. Prevalence in the zoonotic diseases (diseases transmitted from animals to the humans) has also increased the sales of these products.
Market Restraints:
Scarcity of arable land and water increased competition for cultivated land and cost effective production is one of the major hindrances for the industry. Frequent economic slowdowns in several nations combined with the increased cost of the raw materials have also led affected the market badly. The complex regulatory structure of these products is also a major challenge for the market.
Market Opportunities:
Market opportunities mainly lie in acquisition of the local companies by the bigger ones. Improvising the manufacturing processes would also bring down the production costs. Finally exploiting the untapped potential existing in many countries will also help in the growth of the market.
Market Segmentation:
The market can be segmented into the following categories:
Based on type:
Amino acid
Antibiotics
Vitamins
Antioxidants
Feed enzymes
Others
Based on livestock:
Pet
Dog
Cat
Fish
Others
Ruminants
Swine
Poultry
Others
Based on the geographic distribution of the market:
North America
Latin America
Europe
Asia Pacific
Middle East and Africa
Geographic Analysis:
Asia Pacific currently enjoys the lions' share in the global market followed by the North America. India is the global leader. Growth is particularly high in several developing nations like India, Brazil, China etc.
Key Players:
Some of the key players in the market are:
Zoetis animal healthcare
Merck
Merial
Elanco
Bayer healthcare
Ceva Animal Health
Virbac
BoehringerIngelheim
Report Contents Regional Analysis Report Highlights
Market segments
Market Drivers, Restraints and Opportunities
Market Size & Forecast 2016 to 2022
Supply & Demand Value Chain
Market – Current Trends
Competition & Major Companies
Technology and R&D Status
Porters Five Force Analysis
Strategic and Critical Success Factor Analysis of Key Players
North America
US and Canada
Latin America
Mexico, Brazil, Argentina and Rest of Latin America
Western Europe
EU5 (Germany, France, Italy, Spain, U.K.)
Nordic Countries (Denmark, Finland, Norway, and Sweden)
Benelux (Belgium, The Netherlands, and Luxembourg)
Rest of Western Europe
Eastern Europe
Russia
Poland
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia and New Zealand
Rest of Asia Pacific
Middle East and Africa
GCC countries (Saudi Arabia, Oman, Qatar, Bahrain, UAE and Kuwait)
South Africa
North Africa
Rest of Middle East and Africa
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This report is an elaborate aggregation of primary inputs from industry experts and participants across the supply chain. It provides details on market segmentation which is derived from several product mapping exercises, macroeconomic parameters and other qualitative and quantitative insights. The impact of all such factors is delivered across multiple market segments and geographies.
Detailed Historical Overview (Market Origins, Product Launch Timeline, etc.)
Consumer and Pricing Analysis
Market dynamics of the industry
Market Segmentation
Estimated Market Sizing in terms of volume and value
Recent trends in Market and impact
Research Status and Technology Overview
Extensive Industry Structure Coverage
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