Feed additives are goods that are mixed into animal feed to improve both the nutritional content and the overall quality of the feed. These additions are high in probiotics, fatty acids, enzymes, vitamins, minerals, and amino acids, among other nutrients.
According to SPER market research, ‘Canada Feed Additives Market Size- By Type, By Form, By Livestock, By Source - Regional Outlook, Competitive Strategies and Segment Forecast to 2033’ state that the Canada Feed Additives Market is predicted to reach USD 1.43 Billion by 2033 with a CAGR of 4.5%.
A primary driver of the feed additives market growth in Canada is the increasing use of natural feed additives, including but not limited to bacteriocins, prebiotics, organic acids, and phytogenic chemicals. These additions are in line with the increasing customer preference for organic and natural ingredients in animal feed since they are less harmful to the environment than synthetic additives.
Probiotics, enzymes, and antioxidants are examples of functional feed additives that are becoming more and more popular in the Canadian market since they improve animal condition overall by promoting muscular growth, enhancing gastrointestinal health, and boosting the immune system.
Another significant development supporting the demand for feed additives in the Canadian market is the rise in demand for seafood items like prawns. The growing consciousness among consumers about the elevated protein content of seafood is anticipated to drive up demand for aquaculture feed additives as well as aquaculture food.
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CHALLENGES:
- Strict restrictions: To guarantee the safety and quality of feed additives, Canada's feed additives market is subject to strict restrictions. For producers, adhering to these standards can be difficult and could raise production costs.
- Price volatility for raw materials: The price of raw materials, including as vitamins, minerals, and amino acids, that are used to make feed additives, might fluctuate. The profitability of feed additive manufacturers can be impacted by fluctuations in the price of raw materials.
- Farmers' Low Awareness Even with feed additives' advantages, farmers still don't fully understand how to use them or reap their full benefits. Feed additive usage and market expansion may be impeded by a lack of knowledge.
COVID Impact: The market for feed additives in Canada was affected by the Covid-19 outbreak in a variety of ways. Although the first lockout measures caused brief disruptions in feed additive availability due to disruptions in the supply chain and logistics, the overall impact has been largely beneficial. The epidemic brought attention to the significance of resilient agricultural systems and food security. The need for feed additives has increased as a result of a greater emphasis on the productivity, health, and welfare of animals.
Additionally, some of the market key players are Alltech, Inc., Archer Daniels Midland Co., BASF SE, Cargill Inc., SHV (Nutreco NV), Solvay S.A., Others.
Canada Feed Additives Market Segmentation:
By Type: Based on the Type, Canada Feed Additives Market is segmented as; Acidifiers, Amino Acids, Antibiotics, Enzymes, Flavours and Sweeteners, Minerals, Probiotics, Vitamins, Others.
By Form: Based on the Form, Canada Feed Additives Market is segmented as; Dry, Liquid.
By Livestock: Based on the Livestock, Canada Feed Additives Market is segmented as; Aquatic Animals, Poultry, Ruminants, Swine, Others.
By Source: Based on the Source, Canada Feed Additives Market is segmented as; Natural, Synthetic.
By Region: This research also includes data for Alberta, Atlantic Canada, British Columbia, Central Canada, Northern Canada, The Prairies, Others.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.
For More Information, refer to below link:-
Canada Feed Additives Market Future Outlook
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