COVID-19 Impact on Feed Market Growth in Animal Feed Market Industry

COVID-19 has
printed a negative impact on global
economic outlook in the
first quarter of 2020. The immediate animal nutrition industry suffers from
major supply chain disruption. The pandemic have affected countries such as
Italy, Spain, France, China and other key countries and down chain supplier
region and feed sector struggling to meet the demand.

This is evident for
the lack of supply of micro ingredients such as amino acids, minerals and
vitamins. For instance, in March, one of the prominent vendor of feed market
Evonik have forced majeure to fulfill the need of the amino acid especially
threonine amino acid. The product of Evonik is manufactured by contract
manufacturers in China and facing the issue in the procurement of threonine due
to shut down of the city.

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Global
Feed Additives Market 

Global Feed
Additives Market, By Source (Amino acid, Vitamins, Antibiotics, Anti-Oxidants,
Feed Acidifiers Feed enzymes and Others), Livestock (Dairy Farms, Poultry,
Pork/Swine, Cattle, Aquaculture and Others), Form (Dry and Liquid), Function
(Nutrition, Immunity, and Productivity), Category (Conventional and Organic)
Country (U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France,
Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan,
China, India, South Korea, New Zealand, Vietnam, Australia, Singapore,
Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil,
Argentina, Chile, Rest of South America, UAE, Saudi Arabia, Egypt, Kuwait,
South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to
2027

Increased demand for animal products and
their feeds will increase the demand for feed additives in the market. As in
these situations, everyone's focus is first on animal health, and this will
encourage various sectors, which can improve the market growth. Increase in
demand for animal meat products and its use also increases the demand for feed additives, as these two products are proportional to
each other and will be coming into the livestock market in the forecast period
of 2020–2027.

However, the high
cost of raw materials is projected to be a major factor preventing the growth
of the global feed additives market. Further, the stringent government
regulations on product approval are another factor that challenges the growth
of the global animal feed additive market.

Global
Aquafeed Additives Market

Aquafeed additives
market is expected to reach USD 83.81 billion by 2027 growing at a growth rate
of 8.12% in the forecast period of 2020 to 2027. Increasing demand for seafood
across numerous regions is the factor for aquafeed
additives market in the
forecast period of 2020 - 2027.

Increasing
preference for plant-based additives, growth in the aquaculture industry, rise
in seafood trade, benefits associated with feed acidifiers, better protein
digestibility, healthier immune response, increased resource competence in
aquaculture, growing demand for exotic and protein & omega 3 enriched fish
species are some of the factors that will likely to enhance the growth of the
market in the forecast period of 2020 to 2027. On the other hand, rising
government initiatives and improvement of innovative products as a source of
protein will further create new opportunities for the aquafeed additives market
in the above mentioned forecast period.

Fluctuation in the
cost of raw materials is the noted limitation for the growth of aquafeed
additive market. On the other hand, growth in environmental and health concerns
will act as challenge to the growth of the market in the forecast period of
2020 to 2027.

Global
Compound Feeds and Additives Market

Compound feed is a
mixture of various raw materials and food additives that are blended and mixed
to meet the specific requirements of animals. The ingredients commonly combined
include poultry meal, meat and bone meal, grains, brans, soybean meal, corn,
rice, etc. in a proper proportion to get the required nutrition content.

Feed additive is a
supplement that is prepared for farm animals, in order to provide them with sufficient
nutrient content. They improve the quality of feed and the quality of food from
animal origin, and improve the nutrition content that is to be derived.

Market
Drivers:

Growing consumption
of meat and the increased demand for eggs and milk, including their by-products

The need for
reducing the chronic diseases that outbreak from the consumption of
unstandardized and low quality products

Rising demand for
safe and good quality meat which is achieved by fortifying animals with
nutrition, which in turn leads to the increased demand for animal and compound
feed

Increasing consumer
awareness regarding the benefits offered by compound feed and additives acts as
a driver for the growth of this market

Conclusion

COVID-19 pandemic
has taken a toll on the global population and economy. A collaborative effort
on government, public health departments, and hospital fraternity to fight the
coronavirus has led to economic slowdowns, global lockdowns, and extreme public
safety measures. The public health measures include creating awareness about
home quarantine measuring, maintaining food and healthcare supply, especially
to the poor are being strictly followed by government across the world. Along
with the food and healthcare industry, the feed industry is facing problems due
to the non-working manufacturing industry. The demand for feed for livestock is
high as the maintenance of livestock is an important aspect for breeders.