Growing Population of Livestock In Asia Pacific Countries to Boost the Growth of Feed Anticoccidials Market

Growing Population of Livestock In Asia Pacific Countries to Boost the Growth of Feed Anticoccidials Market

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The feed anticoccidials market is projected to reach USD 429 million by 2025, from USD 331 million in 2019, at a CAGR of 4.4% during the forecast period.

The feed anticoccidials market is estimated to account for USD 331 million in 2019 and is projected to reach USD 429 million by 2025, growing at a CAGR of 4.4% during the forecast period. As per the FAO figures of 2017, the consumption rate of meat products in East Asia had grown at a rapid pace. The number reached to 50 kilograms per person in 2015 from nearly 9 kilograms per capita in the 1960s. Therefore, the demand for anticoccidials from Asia Pacific countries has increased significantly in recent years. Moreover, the lenient regulation on the usage of anticoccidials in feed products is driving the market in this region.

Feed Anticoccidials Market

Furthermore, the feed anticoccidials market is driven by the increasing focus of manufacturers towards natural herbal sources for producing feed anticoccidials. Herbal extracts such as neem extracts, oregano, Aloe Vera, and mushroom extracts having anticoccidial properties are being used increasingly in Europe and North America  However, limitation on the usage of anticoccidials in Europe and North America is restricting the market growth for anticoccidials. The restriction on the usage of chemical antibiotics is due to its chemical composition, which leaves residues in the animal body and is harmful to animals as well as human consumption.

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Many countries, including South Korea and Slovakia, have banned pork imports from Germany due to the health risks involved. The use of natural feed anticoccidials, such as herbal extracts, helps animals and protects them against coccidiosis. Variations in climate are a catalyst for parasites to complete their lifecycle, which increases the hazard for livestock animals.

China is projected to be the largest market in the region for livestock consumption due to the changing diet patterns and high demand protein-rich food. With the increase in demand for high-quality livestock, the demand for feed additives such as feed anticoccidials is also increasing at the same pace. This is due to the related health concerns and growing diseases across various livestock species. However, the ban on anticoccidials for treatment of coccidiosis in the livestock sector in the European and North American countries has indirectly impacted the Asia Pacific countries as well, which is encouraging many producers of feed anticoccidials to develop natural anticoccidials. Lack of awareness of natural anticoccidials in most of the developing countries in the Asia Pacific region, demand for chemical anticoccidials in increasing.

The Middle East & Africa is projected to witness the fastest growth in the feed anticoccidials market from 2019 to 2025. The growth of the feed anticoccidials market in the region is driven by the increasing population of livestock in these regions. There are no limitations on the use of anticoccidials usage in feed in these regions, which increases the demand for anticoccidials in this market. Import and exports of various livestock to Asian and North American countries from these regions are growing, which is demanding more feed anticoccidials in this region.

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The Asia Pacific is projected to account for the largest market share during the forecast period.

Asia Pacific accounted for the highest share in the global feed anticoccidials market in 2017. The APAC market represents the highest growth potential for animal antimicrobials and antibiotics during the forecast period. This can primarily be attributed to the presence of a huge number of domesticated animals in the region. Over the past few years, the animal healthcare market in Asia Pacific has witnessed significant changes owing to factors such as increasing awareness about animal health and growing health expenditure, especially in India and China. China and India also witnessed significant increases in livestock breeding for meat and poultry products. To meet this growing demand for milk and meat products, livestock producers are increasingly focusing on animal healthcare, thereby excessively using livestock antibiotics, such as anticoccidials.

Key companies operating in the feed anticoccidials market include Elanco Animal Health (US), Huvepharma (Bulgaria), Phibro Animal Health (US), Ceva Animal Health (France), Zoetis (US), Impextraco (Belgium), Kemin Industries (US), Merck Animal Health (US), Virbac SA (France), Zydus Animal Health (India), Bioproperties Pty. Ltd. (Australia), and Qilu Animal Health Products Co. Ltd. (China).

 

 

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