Market Research Report
Australia Feed Additives Market - Growth, Trends and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||392158|
|Published||Content info||100 Pages
Delivery time: 2-3 business days
|Australia Feed Additives Market - Growth, Trends and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 100 Pages||
The Australia feed additive market is anticipated to register a CAGR of 4.3% during the forecast period. The feed additive industry in Australia has undergone a paradigm shift over the years, majorly characterized by a series of technological developments for optimizing production amid the persistent demand for livestock meat and seafood, sustained by the rapidly growing middle-income households in Australia. The increasing demand for livestock products has been driving significant changes on the supply-side, aimed at improvements in livestock product yields. Eubiotics and acidifiers segments lead the feed additive market in Australia.
Eubiotics dominate the Market
The Eubiotics segment dominates the market with a market share of 20%. Eubiotics include probiotics, prebiotics, and organic acids. They aid in improving the health and food safety of the animals. The application rate of eubiotics is 5, 3.9, 1.1, and 4.1 in swine, aquaculture, swine, and ruminants, respectively. Among the various eubiotics, probiotics account for the major share followed by prebiotics. DSM is one of the key players in Australia that produces eubiotics. Its product lineup includes 5 products namely, Crina, Cylactin, Vevovitall, and Balancius.
Increasing Animal Production Drives the Market
The animal production industry in Australia is very well developed with a wide range of animals such as beef cattle, dairy cattle, swine, poultry, and aquatic animals. An increase in the production of animals in Australia is fueling the feed and feed additive consumption demand, thus aiding the Australian feed additive market. Cattle production is the leading type of animal production in Australia. The beef cattle industry accounts for around 25 percent of the total value of Australian farm production and over 20 percent of farm export income. Almost 60 percent of Australian farms carry beef cattle. Therefore, the consumption of feed additives is expected to rise in the cattle industry.
The Australian feed additives market is highly concentrated, with the top ten companies accounting for more than 50% of the market share. The leading players in the market studied are focused on business expansion to increase their sales. These companies are also concentrated on research and development to launch new products frequently.