Market Research Report
United States Feed Additives Market Forecast 2021-2026
|Published by||Inkwood Research||Product code||991391|
|Published||Content info||185 Pages
Delivery time: 2-3 business days
|United States Feed Additives Market Forecast 2021-2026|
|Published: March 1, 2021||Content info: 185 Pages||
The United States feed additives market is anticipated to emerge with a CAGR of 4.26% in terms of volume, and 5.38% in terms of revenue, over the studied period. The country's market growth is facilitated by chief factors, including, technological advancements and innovations, increasing livestock and cattle production, and rising animal meat consumption. The base year considered for the market study is 2020, and the forecast period is from 2021 to 2026.
The rising consumption of meat across the United States is expected to stimulate the increased production of cattle. As a result, this aspect would substantially bolster the country's feed additives market over the upcoming years.
Companies across the United States are involved in regular expansions and mergers, in order to capture a larger market share. For instance, Cargill Inc acquired Southern States Cooperative's animal feed business in September 2017. The acquisition was anticipated to reinforce the business to augment its presence in the Northeast, South East, and MidAtlantic regions of the United States, therefore directing increased revenue into the country's feed additives market.
As per the report by the Food and Drug Administration, at least 80% of the antibiotics used in the United States are fed to farm animals. The use of the Veterinary Feed Directive (VFD) drug, primarily in farm animal feed, demands authorization by a licensed veterinarian. However, the ban on using antibiotics, except for therapeutic purposes in the United States, hampers the market growth. Hence, these factors are projected to influence the country's feed additives market.
Some of the prominent companies operating in the market are, Archer Daniels Midland Company, DuPont De Nemours Inc, Cargill Inc, etc.