Animal Feed Vitamins Market Size, Share, Opportunities, COVID-19 Impact, And Trends By Type (Vitamin A, Vitamin C, Vitamin E, Others), By Livestock (Poultry, Swine, Ruminants, Aquatic, Others), And By Geography - Forecasts From 2023 To 2028

Small quantities of vitamins are added to animal feed to support the general development, welfare, and productivity of the animals. The development of the livestock sector, the growing demand for animal meat, and shifting demography are the key market growth drivers. A sizeable portion of the market is made up of the Asia-Pacific area, influenced by the abundance of livestock and the growth rate of that population in this region. The market for vitamins is also being driven by disease outbreaks. For instance, vitamin A has a critical role in preventing growth problems in growing animals and is crucial for the protection of the epithelium in mature animals. Additionally, vitamin E is essential for the nutritional requirements of pigs and poultry, as well as for the immune system and meat quality. It aids in maintaining the fundamental tissue structure and disease resistance in animals. As a result of these advantages, vitamin inclusion in feed has grown. Important firms like BASF SE, DSM, and Adisseo are growing their position in emerging countries and investing more in the creation of novel vitamin-based additives.

Rising meat consumption

Producers have transformed their production practices in response to the increased demand for meat from consumers worldwide. For instance, the OECD (Organisation for Economic Co-operation and Development) reported that per capita consumption of poultry meat in Russia increased to 31.7 kg in 2019 from 29.5 kg in 2016.  The demand for meat production increased as a result of the expanding meat consumption, which also raised the demand for feed vitamins. Additionally, due to the region's expanding meat consumption, the production of pig meat grew from 23 million tonnes in 2020 to 23.4 million in 2021, according to Eurostat. The meat and poultry industries are also said to make up the largest portion of US agriculture, according to data from the North American Meat Institute. As a result, it is anticipated that meat output would increase along with rising meat consumption, which will have a substantial global impact on the market for feed vitamins as well.

Geographical Insights

India introduced the National Livestock Mission in September 2021 to advance the livestock industry. As required by this goal, it is an online platform that attempts to facilitate workflow between the State Implementing Agency, lenders, and Ministry. Thus, it is anticipated that developments like these in the livestock industry would also drive the market for feed vitamins. Furthermore, the market is being propelled to hold a significant position in the feed vitamins market by the increasing technological advancement in livestock by important manufacturers and leading companies in the US. For instance, AgriWebb introduced the Livestock Management Platform in the area in February 2021 to help ranchers all around the nation more easily utilise their data in order to better ranchers' lives through technology, which is anticipated to offer a lucrative potential for the market as well.

Competitive Insights

The market for feed vitamins in the world is very cutthroat. The market participants compete on the basis of the functionality and features of their products and the marketing they receive, and they concentrate on their strategic initiatives to hold larger market shares. Companies frequently make significant investments to create new products, partnering with and buying other businesses in the process. Some of the key firms in the international feed vitamins market include businesses like BASF SE, DSM, Zhejiang Medicine Co. Ltd., and Adisseo. For instance, Biovet SA invented the natural Alquerfeed Ovoponedoras vitamin-mineral supplement for layers in 2021 with the goal of enhancing the quality of chickens. This product is comprised of the ovum line. Additionally, DSM opened its premix factory for animal nutrition and health at Hengyang city's Baishazhau Industrial Park in November 2020. DSM built this unique facility with cutting-edge processing and creative solutions wanted to support environmentally friendly animal feed vitamin production in China. In addition, it also introduced the DSM Vitamin Academy within the business, which would support research and practises with participants along the entire value chain for animal husbandry and feed. According to the company, they will research deeper on the function of the vitamin in animal proteins through this endeavour, paving the way for a healthier and more sustainable future.

COVID-19 Impact on the Animal Feed Vitamins Market

The market for vitamin feed additives was significantly affected by the COVID-19 outbreak. The meat sector suffered during that time as a result of restaurant closures during the lockdown and a change in consumer consumption habits. Less feed was produced as a result of this adverse effect, which also decreased the need for certain feed additives. The pandemic also had an impact on the supply chain and the production process, which caused significant losses for businesses. It had a significant effect on the feed business because the lockout caused many feed companies to close. The demand for these additives decreased as a result of the closure of feed factories. However, the industry is anticipated to expand steadily with bettering of the overall situation and the resumption of these services.

Animal Feed Vitamins Market Scope:

Segmentation:

• By type
  • Vitamine A
  • Vitamin C
  • Vitamin E
  • Others
• By livestock
  • Poultry
  • Swine
  • Ruminants
  • Aquatic
  • Others
• By Geography
  • North America
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • China
    • Japan
    • South Korea
    • India
    • Thailand
    • Others