April 30, 2021
According to the research report titled ‘Global Liquid Feed Supplements Market Size study, Type (Protein, Minerals, Vitamins, Others), Source (Molasses, Corn, Urea, Others), Livestock (Ruminants, Poultry, Swine, Aquaculture, Others) and Regional Forecasts 2020-2027’, available with Market Study Report LLC, global liquid feed supplements market was appraised at USD 5.2 billion in 2019 and is anticipated to record a y-o-y growth rate of 5.5 % over 2020-2027, amassing USD 8 billion by the end of forecast period.
Increasing demand for animal-sources products, and rising awareness about feed quality for animal health are the factors boosting the growth of global liquid feed supplements market. Moreover, easy availability of liquid by-products from various industries which can be used to supplement for poor grazing will further augment the market outlook.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/2956020/
Also, rising adoption of pets, and emphasis on animal care are generating revenues for the market. According to European Pet Food Industry Federation (FEDIAF), nearly 85 million households in Europe owned at least one pet in 2019, and turnover from pet food products was around USD 24.74 billion.
Furthermore, higher animal healthcare expenditure, alongside rising popularity of autogenous vaccines are also working in favor of worldwide liquid feed supplements market scenario. As cited in the report by AnimalhealthEurope, the total sale of animal medicines in Europe was valued at USD 7.06 billion in 2017, of which, 60% was vaccines & parasiticides, and 13% was antimicrobials.
However, government intervention & regulations, along with loss of synthetic amino acids in storing the liquid feeds are acting as restraints for global liquid feed supplements industry.
Based on types, the market is segmented into protein, vitamins, and minerals among others. According to the source, the industry is divided into urea, molasses, and corn among others. By livestock, the marketplace is fragmented into poultry, swine, ruminants, aquaculture, and others.
Moving on regional terrain, North America held significant portion of global liquid feed supplements market share in the recent past, owing to increasing availability of liquid by-products from various industries which work as supplement to inadequate grazing.
Parallelly, Asia Pacific market is poised to showcase impressive growth pattern over 2020-2027, due to factors like increasing demand for animal derived products, growing awareness about the feed quality and animal health
Leading players influencing global liquid feed supplements industry trends are Archer-Daniels-Midland (ADM) Company, BASF SE, Land O'Lakes Inc., Ridley Corporation Limited, GrainCorp Limited, Westway Feed Products LLC, Quality Liquid Feeds Inc., Dallas Keith Ltd., and Performance Feeds LLC.