North America Feed Vitamins Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America Feed Vitamins Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

North America feed vitamin market is projected to register a CAGR of 1.6% over the forecast period. Some of the factors driving the market such as industrialization of the livestock industry, expansion of animal meat market, and livestock disease outbreak fuelling additives market. The feed vitamin market is projected to grow along with the increased feed production and growing animal health concern. United states dominate the market, as the meat consumption in the country is recording steady growth which necessitates the quality production. According to OECD, Chicken meat is the highest consumed in the United States. In 2019 per capita meat consumption was 50.1 kg as compared to 49.7 kg in 2018. Companies like BASF SE, Adisseo, DSM Nutritional Products AG, and Archer Daniels Midland Co. are the major players in the feed vitamin market.

Key Market TrendsIncreasing Compound Feed and Feed Additives Production

Animals require vitamins, as they are critical for normal body functions, growth, and reproduction. ​For instance, vitamin A deficiency in adult hens results in reduced egg production, and inbreeding, birds decreased rate of hatchability is observed. The vitamin deficiency can be overcome by including vitamin additives in the feed. According to the Alltech feed survey, feed production in the United States has reached 214 million metric tons. Among which, pig feed which accounts for 61 million metric tons followed by broiler feed accounts for 48.5 million metric tons in 2019 Thus the feed vitamin market is projected to grow with the growing animal population and increasing compound feed production as vitamins are used as additives.

The United States Dominate the Market

The consumption of poultry meat is the highest in the country. In 2019, per capita consumption was more than 98 pounds compared to 89.8 pounds in 2016, according to the National Chicken Council. For example, they produced over 9.2 billion broiler chickens in 2019. More than 42.1 billion pounds of the chicken product has been marketed, where chicken consumer spending in 2019 was USD 95 billion. According to the Food and Agriculture Organization, In 2018 poultry bird population was 2225.5 million heads, which was 2225 million heads in 2016. This trend is further projected to continue during the study period. Thus the increasing production, consumption, and expenditure on meat in the country will drive the use of quality feed which includes vitamins.

Competitive Landscape

In the North American feed vitamin market, companies are not only competing on the basis of product quality and promotion but are also focused on their strategic moves to hold larger market shares. Companies are investing heavily to develop new products and collaborating and acquiring other companies. This factor is expected to increase its market shares and strengthen R&D activities. Companies like BASF SE, Adisseo, DSM Nutritional Products AG, and Archer Daniels Midland Co. are the major players in the feed vitamin market. In November 2019, Wilbur-Ellis Nutrition, LLC, acquired Rangen, Inc., specialized in aquaculture and general feed production. This acquisition will help the former to strengthen and expand the aquaculture business.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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