Government subsidy, increasing livestock population and construction of several livestock farms are some of the factors boosting the feed additives market in the Middle East region. The market for feed additives in Middle East has illustrated brisk growth as a consequence of rising mycotoxins level in animals. Furthermore, extreme high levels of ZEN(905) and DON(97%) were also existent, thus have impacted the usage of feed additives.
According to 6Wresearch, the Middle East feed additives market size is projected to grow at a CAGR of 5.2% during 2019-25. The key factor driving the growth of the market is heat stress which mainly induces in animals based in tropical and hot climate regions such as Middle East. Due to such factor the quality of meat and egg has reduced significantly, which has created the demand for feed additives in the Middle East region.
According to Akash Sharma, Research Analyst, Research and Consulting, 6Wresearch, "Poultry sector accounted for the highest revenue share in the overall Middle East feed additives market, by animal type, in 2018. Consumer taste preference is one of key factors responsible for huge poultry demand in the Middle East."
"In terms of type, Nutritional feed additives accounted for majority of the revenue share in 2018 owing to increasing protein deficiency in animals and severe heat stress in the broilers. Furthermore, degrading gastrointestinal functionality and low feed conversion ratio are one of the indispensable factors which are going to provide thrust to the feed additives market in Middle East region," Akash further added.
According to Shubham Chaurasia, Research Associate, Research and Consulting, 6Wresearch, "In Middle East, dry form feed segment holds the highest market revenue share in the overall Middle feed additives market. The dry form has a higher appeal among livestock producers as these are easy to mix with the feed and are easy to store and handle, thus establishing a huge market for dry feed additives in the region," Shubham concluded.
Some of the major companies in the Middle East feed additives market include Cargill Inc., Alltech Inc., BASF SE, Evonik Gulf FZE, Kemin Industries and Al-Watania Poultry.
"Middle East Feed Additives market (2019-2025)" provides an in-depth analysis with 75 figures, covered in more than 120 pages. The report estimate and forecast the overall Middle East feed additives market by type, feed form, animal type, and countries such as Turkey, Saudi Arabia, UAE and Jordan. The report provides an unbiased and detailed analysis of the on-going trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.