FOR IMMEDIATE RELEASE
Pressnews.biz (Press Release) Aug 10, 2018
-- Liquid Feed Supplements Market was worth USD 3.88 billion in 2018 and estimated to be growing at a CAGR of 5.6%, to reach USD 5.1 billion by 2023.
The market is expected to show significant potential during the mentioned forecasting period. The market continues to gain momentum with the rapid increase in awareness about animal health.
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Liquid feed supplements are the food substances to provide add which contain protein, minerals and other nutritional elements which are required in the food of livestock. Liquid feed supplements are generally added in the daily food for different animal species such as swine, cattle, chickens, and aquatic animals.
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The major driving factors for the market of Liquid Feed Supplements are rising use of products obtained from livestock, increasing awareness regarding animal health and nutrition given to them, ease of availability of liquid feed supplements and development in research activities in the animal healthcare industry. However, constraints like regulations by agencies and lack of awareness in certain areas are restricting the growth of this market.
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The global Liquid Feed Supplements Market is segmented on the basis of Type into Protein, Minerals, Vitamins and Others. On the basis of Source, the market is segmented as Molasses, Corn, Urea and Others, wherein the Molasses segment accounts for the highest share among all others. On the basis of Livestock, the market is segmented as Ruminants, Poultry, Swine, Aquaculture and Others. The ruminants segment has the highest demand for liquid feed additives due to increase in meat eating population these days.
On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. As of 2018, the Liquid Feed Supplements Market was dominated by Asia-Pacific region. The continuous economic development in this region and rising demand for meat has resulted in increased usage of liquid feed supplements. The gradual increase in livestock population is also leading to the growth of Liquid Feed Supplements market, which is expected to continue in the future years as well.
Some of the major companies dominating the market, by their products and services GrainCorp Ltd. (Australia), Cargill, Incorporated (U.S.), Land O’Lakes Inc. (U.S.), Archer Daniels Midland Company (U.S.) and BASF SE (Germany).
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