-- Developing regions hold strong opportunities for market participants
LONDON, Feb. 2,2015 /PRNewswire/ --Changing consumption patterns that lean towards increasing demand for protein diets are fuelling growth in the animal feed ingredients market. However, developed regions such as Europe and North America, will be less lucrative owing to slow population growth and a decline in meat consumption. Developing regions, on the other hand, will be hotspots for animal feed ingredient manufacturers due to anticipated population growth and the continuous shift to Westernised lifestyles.
New analysis from Frost & Sullivan, Analysis of the Global Animal Feed Ingredients Market (http://bit.ly/1ywglgQ), finds that the market earned revenues of $17.28 billion in 2014 and estimates this to reach $24.48 billion in 2020. The study covers amino acids, enzymes, minerals, vitamins, organic acids, mycotoxin binders and other animal feed ingredients.
For complimentary access to more information on this research, please visit: http://ow.ly/I0xz6
"The price volatility of macro feed ingredients due to supply and demand shocks has led to increased feed costs whichaccounts for about 60 to 70 percent of livestock production costs," saidFrost & Sullivan Chemicals, Materials & Food Senior Industry Analyst Ms. Tosin Jack. "This has led to the quest for alternative feed sources and an increase in the demand for micro feed ingredients."
As adoption rates rise, the prices of micro feed ingredients will be supported, which could deter the animal feed industry from using these products as much as required. For now though, the animal feed industry continues to depend on micro feed ingredients to enhance the efficiency with which animals convert feed into protein.
Market participants should invest in R&D as the animal feed industry is seeking novel and cost-effective ways to meet the growing demand for its products. Research efforts should focus on the control of gastro-intestinal disorders, improvement of protein and fibre digestibility, reduction of harmful gas emissions, and improvement of animal immunity to diseases.
"Given the highly competitive nature of the industry, animal feed ingredient companies will continue to benefit from partnerships across the supply chain, which will enable costs to be shared," noted Ms. Jack. "They will also reap returns from providing technical support to customers to ensure that product benefits are well-understood and maximised."
Analysis of the Global Animal Feed Ingredients Market is part of the Food and Beverage Ingredients Growth Partnership Service program. Frost & Sullivan's related studies include: North American Plant Health Improvement Agents (PHIA) Market and ANZ Nutraceuticals Market. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Analysis of the Global Animal Feed Ingredients Market
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Contact:
Julia Nikishkina
Corporate Communications - Europe
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E: julia.nikishkina@frost.com
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