The Key Players Identified in the Global Medicated Feed Additives Market Include Archer Daniels Midland Company (U.S.), CHS Inc. (U.S), Cargill (U.S), Purina Animal Nutrition (Land O’ Lakes) (U.S.),and Zoetis Inc. (U.S.).
The key players identified in the global medicated feed additives market include Archer Daniels Midland Company (U.S.), CHS Inc. (U.S), Cargill (U.S), Purina Animal Nutrition (Land O’ Lakes) (U.S.),and Zoetis Inc. (U.S.). The market is projected to reach a value of USD 15.32 Billion by 2022, growing at a CAGR of 5.41% from 2016 to 2022. The global medicated feed additives market is driven by factors such as growing consumption of meat and dairy products and growing concerns about the health of livestock and industrialization of processed products.
The key market players adopted strategies such as expansions and investments to increase their production capabilities and geographical expansion. Leading players focused on strengthening their R&D proficiencies by signing agreements with other companies, to develop innovative products of medicated feed additives.
The global players have established large distribution networks across the world and follow extensive cross-selling marketing strategies. Market leaders such as Cargill (U.S.), Archer Daniels Midland Company (U.S), and CHS Inc. (U.S.) have successfully tapped the potential markets through the development of innovative product launches, partnership agreements, and expansions. These key companies focused on investments and expansions in the medicated feed additives industry on a regional as well as a global level, to strengthen and expand their position in the medicated feed additives market. The trend of developing medicated feed additive products has increased owing to the growing concern about animal health. Increase in the consumption of meat products has led to an increase in competition among the key players, thus increasing the competitive rivalry among the players.
In November 2016, ADM Company Animal Nutrition (U.S), a division of Archer Daniels Midland Company expanded its feed facility by building new plant in Quincy, Illinois.
Another key player, Cargill launched Promote Biacid Nucleus in September 2015 in China for poultry producers to improve chickens’ health and performance. In February 2016, Zoetis Inc. collaborated with National Pork Board (U.S). This collaboration helped Zoetis to extend its access to a pig training program
Related Reports:
Medicated Feed Additives Market by Type (Antioxidants, Antibiotics, Probiotics & Prebiotics, Enzymes, Amino Acids), Livestock (Ruminants, Poultry, Swine, Aquaculture), Mixture Type, Category, and Region - Global Forecast to 2022
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