Starter feed market key drivers can be a rise in the consumption of meat products among consumers. The United States offers the starter feed, which is antibiotic-free and medicated, which is favoring its adoption in the country. South Asia is expected to be the high growth market for starter feed. Major market players are innovating new products to launch to increase their diversity of products. For example, the United States has initiated a ban on antibiotics usage in the starter feed to enhance feed conversion efficiency. In addition to this, they have also started medicated starter feed to prevent the animals from numerous diseases like cocci oocysts and to increase their immunity. The unique promotional strategies with effective use of catchy words appeal to a broader customer base, are also complementing the growth of the starter feed market growth in the US. Thus, these efforts prove to be a key drivers for the growth of the starter feed industry.
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It is difficult to provide the infant livestock with a proper diet, which contains high amounts of proteins and nutrients to ensure proper growth. Starter feed contains all the necessary nutrients, beneficial for all the livestock animals. It is a specially formulated feed for newly born livestock’s addition to this, it also improves the immune system of animals, which reduces the cost associated with their treatments. Also, the increasing demand for meat and up-gradation of poultry farming are the factors that drive the growth of the global starter feed market. However, its high cost may hamper its demand in the coming years.
COVID-19 Scenario Analysis:
Hampered Production Due to Lockdown:
Due to a shortage of manpower, it has hindered the production of starter feed products. The lockdown situation has disrupted the production process as all the major industries are closed.
Due to Covid-19, the supply chain has also been affected. The supply chain has facing problems regarding the transport of goods and the export of goods from one country to another country. It has disrupted the ratio of export and import of goods, thus affecting the starter feed industry to a major extent.
Downfall of Price
As people are avoiding the consumption of meat, fish, and chicken, due to which the wholesale price of chicken had dropped by 70%.
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Key Benefits of the Report:
This study presents the analytical depiction of the global starter feed industry along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global starter feed market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the global starter feed market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed global starter feed market analysis based on competitive intensity and how the competition will take shape in coming years.
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