Italy Feed Additives Market Outlook 2031
The Italy feed additives market size was valued at USD XX in 2022 and is anticipated to reach USD XX Bn by 2031, expanding at a CAGR of 4.3% during the forecast period, 2023 – 2031. The growth of the market is attributed to the increasing use of feed additives for animal health and nutrition.
The usage of feed additives has increased over time as the market has become more industrialized. Because of the price instability of natural feed supplies during the last decade, the animal feed industry has increased its use of various feed additives. Feed additives, which operate as a supplement, nutrient enhancer, feed conditioner, and other vital factors for maximum animal growth, have become necessary as the livestock, feed, and processed meat industries have become more industrialized.
The Covid-19 pandemic affected the demand and supply of Italy feed additives market. Lockdown across the globe, supply chain disorders, and oscillating supply of raw materials forced manufacturers to shut down production leading to unfortunate decline in market growth. Launch of vaccines to combat the Covid-19 pandemic is expected to contribute to the market growth over the forecast period.
Italy Feed Additives Market Trends, Drivers, Restraints, and Opportunities
- Concerns over food safety in the country, particularly with regard to meat and dairy products, have driven a surge in demand for feed additives, which is estimated to fuel the market.
- Rising demand of processed goods from emerging economies, and increased penetration of organized retail, is projected to drive the market.
- Rising mass production of livestock and increased demand for high-quality meat, is anticipated to propel the market.
- Rising raw material prices, are projected to hamper the market.
Scope of Italy Feed Additives Market Report
The report on the Italy feed additives market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Feed Additives Market - Italy Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Additive Types (Antibiotics, Vitamins, Antioxidants, Amino Acids, Enzymes, Mycotoxin Detoxifiers, Prebiotics, Probiotics, Flavors and sweeteners, Pigments, Binders, and Minerals), Animal Types (Ruminant, Poultry, Swine, and Others)
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Country Scope
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Italy
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Cargill Incorporated.; BASE SE.; Alltech Inc.; Centafarm SRL.; and Elanco Italia Spa
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Italy Feed Additives Market Segment Insights
The vitamin segment is expected to grow at a rapid pace
Based on additive types, the Italy feed additives market is segregated into antibiotics, vitamins, antioxidants, amino acids, enzymes, mycotoxin detoxifiers, prebiotics, flavors & sweeteners, pigments, binders, and minerals. The vitamin segment is expected to grow at a rapid pace during the forecast period due to high consumption of meat & yolk, it contains many essential ingredients which are important for health.
The poultry segment is expected to grow at a rapid pace
Based on animal types, the Italy feed additives market is segregated into ruminant, poultry, swine, and others. The poultry segment is expected to grow at a rapid pace during the forecast period due to increased demand for chicken feed additives has resulted growing concerns about animal health.
Italy is anticipated to constitute a key market share
Italy's feed output in 2019 is expected to reach over 14 million tons, with roughly 420 factories around the nation producing a variety of species (poultry, cattle, pigs, rabbits, sheep, horses, horses, fish, pets, etc.). Due to factors such as rising processed goods from emerging economies, and increased penetration of organized retail, meat and dairy products the market is estimated to propel at a rapid pace.
Segments
The Italy feed additives market has been segmented on the basis of
Additive Types
- Antibiotics
- Vitamins
- Antioxidants
- Amino Acids
- Enzymes
- Mycotoxin Detoxifiers
- Prebiotics
- Probiotics
- Flavors & Sweeteners
- Pigments
- Binders
- Minerals
Animal Types
- Ruminant
- Poultry
- Swine
- Others
Country
Key Players
Competitive Landscape
Key players competing in the Italy feed additives market share include Cargill Incorporated.; BASE SE.; Alltech Inc.; Centafarm SRL.; Elanco Italia Spa. Some of these players are adopting various strategies, such as partnerships, acquisitions, and product launches, to gain a larger share in the market. The feed additives market is fairly consolidated, with the top players controlling majority of market share.
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