The GCC compound feed market is expected to register a high CAGR during the forecast period, 2018 to 2023. Feed is the largest and most important component to ensuring safe, abundant and affordable animal proteins. This growth is largely fuelled by the rise in meat consumption, increasing disposable income, increase in mass production of meat, and recent livestock disease outbreaks. Rising concerns over the quality and safety of meat products have been making compound feed a better choice for livestock, as compared to traditional fodder. The primary restraint identified in this report is the rising cost of raw materials, which is resulting in increased imports.
Increased use of biotechnology
The increased cost of feed ingredients requires improved feed utilization. Biotechnology RD has been the most feasible way to improve the feed nutrient content. There is a significant usage of biotechnology in animal production, especially for animal nutrition. The advancement of biotechnology has permitted the use of nontoxic fungi, to improve fibrous feeds like that of straw or poor quality roughages, therefore, a wide variety of feed additives are known to modify rumen fermentation. They include components that help to reduce methanogens, enhance propionic acid production, reduce protein degradation, improve microbial protein synthesis and inhibit protozoa. Among such additives, the commonly used supplements are antibiotics, microbes, and specific substrates like that of oligosaccharides. Also, effective enzyme preparations are produced in large quantities at a more practical cost rates.
Poultry feed to dominate the market
Poultry meat production is expected to register a CAGR around 7% during the forecast period. The major reason for the surge in demand and consumption of poultry meat is the increased consumption of processed poultry in the GCC countries. It is identified that the poultry feed market had the largest market share of 68.3% in 2016, due to high slaughter headcount resulting from increasing preference towards poultry across all parts of the region.
Key Developments in the Market
January 2017: Trouw Nutrition launches fortified Sprayfo formula with health support package.
January 2018: Agthia Group has launched AL AIN VITAMIN D, the world's only Vitamin D water, at the International Water Summit.
Major players: EVONIK INDUSTRIES AG, BASF SE, CARGILL INC., AGTHIA GROUP, ARASCO, TROUW NUTRITION, ACOLID
Reasons to Purchase this Report
1. The report analyses how the soaring costs of the poultry feed and the high mortality rates in Saudi poultry farms will impact the GCC compound feed market.
2. Analyzing various perspectives of the market with the help of Porter's five forces analysis
3. Study on the ingredient, supplement, animal types that are expected to dominate the market.
4. Study on countries that are expected to witness fastest growth during the forecast period.
5. Identify the latest developments, market shares and strategies employed by the major market players.
6. 3 months analyst support along with the Market Estimate sheet in excel.
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