Africa Feed Vitamins - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

Africa Feed Vitamins - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2019 - 2029

The Africa Feed Vitamins Market size is estimated at USD 142.18 billion in 2024, and is expected to reach USD 177.18 billion by 2029, growing at a CAGR of 4.5% during the forecast period (2024-2029).

The COVID-19 pandemic has slowed down the operations though, with staff shortages and new sanitary guidelines for operation and processing. Feed companies have ensured necessary supplies to farmers to safeguard the health and welfare of their animals and to maintain the production level on farms. 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 value because of the well-developed animal industry. The market is consolidated with few players holding a major share in the market.

Africa Feed Vitamins Market Trends

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 355.0 million in 2018 increasing to 362.0 million in 2019 . Feed vitamins 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. It accounts for the major share of the feed vitamins market. It has a market-oriented animal farming industry that includes cattle, dairy, pigs, sheep, goats, and rabbits. It also has very well-developed poultry and dairy industry. The country has 126 million cattle, 52 million goats and 13 million pigs, and 220 million sheep, respectively in 2019. The continuous production of animals and increasing meat consumption stand as a backbone for the South African feed vitamins industry.

Africa Feed Vitamins Industry Overview

Africa feed additive market is consolidated with a few players holding the major share of the market. Vitafor Nv, BASF SE, Pfizer, Inc., Pharmavite and Zinpro Corporation 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.

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