Market Research Report
Africa Feed Additives Market - Growth, Trends and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||392067|
|Published||Content info||110 Pages
Delivery time: 2-3 business days
|Africa Feed Additives Market - Growth, Trends and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 110 Pages||
Africa feed additives market is estimated to register a CAGR of 4.1% during the forecast period (2020 - 2025). The increasing meat consumption in the region is the prime driver of the market along with increasing awareness among the farmers about the benefits of the feed additives. South Africa dominates the market in terms of the value because of the well-developed animal industry. The market is consolidated with few players holding major share in the market.
Increasing Live Stock Production Drives The Market
A large number of African countries are characterized by the constant growth of livestock and meat processing industries. Meat, eggs, and milk have been the main source of diet in many African Countries. Government support and the demand from meat processing industries are boosting animal production in the region. For instance, The number of cattle production was recorded as 346 million in 2017 increasing to 355 million in 2018. Feed additives are gaining popularity among the animal production industry to improve feed quality and animal health. Therefore the growing animal production industry is acting as a primary driver of the market.
South Africa Dominates the Market
South Africa has a well-developed livestock industry among all the African countries. Hence, it accounts for the major share of the market. It has a market-oriented animal farming industry that includes cattle, dairy, pigs, sheep, goats, and rabbits. It also has a very well developed poultry and dairy industry. The country has 355 million cattle, 40 million, and 1882 million pigs and chickens, respectively in 2018. The continuous production of animals and increasing meat consumption stand as a backbone for the South African feed additives industry.
Africa feed additive market is consolidated with a few players holding the major share of the market. Nutreco NV, Novus International, Kemin Industries, and Cargill, are some of the leading players in the region. New product launches, mergers & acquisitions, and partnerships are the major strategies adopted by these leading companies in the market.