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Further Research into Overcoming Market Challenges will Spur Growth
The global animal feed ingredients market is expected to experience considerable growth over the forecast period. Growth is expected to be driven by a combination of increased awareness of the nutritional benefits associated with these ingredients and further research into overcoming market challenges. The animal feed industry continues to face the challenge of feeding more people with limited resources; hence, the continued quest to improve efficiency. Developing regions are expected to drive growth, with a dominating poultry sector. The aquaculture segment is also likely to witness considerable growth. Overall, the market is a highly fragmented and competitive, and more consolidation is expected.
-The global animal feed ingredients market was worth $ billion in 2013, and is expected to grow at a CAGR of% from 2013 to 2020.
-Due to good crop production prospects and quality, lower macro feed ingredient prices are likely to result in a steady increase in feed ingredient volume, at a CAGR of %.
-The amino acids segment is expected to dominate the market throughout the forecast period as a result of the increasing demand for protein.
-Developing regions are expected to grow more than the developed ones due to a combined effect of the increasing demand for animal protein and improved economies.
-The market is expected to be driven mainly by the changing consumption patterns and market fundamentals in the macro feed ingredients industry. Also, the quest to improve the efficiency at which animals convert feed into protein, in particular, is expected to continue.
-Poultry numbers are expected to increase significantly, and will probably experience the largest growth over the forecast period. This is mainly due to the growing demand for poultry meat, driven by the combined effect of the health-and-wellness trend and the increased wealth of developing countries.
-Some of the challenges the industry is likely to face are controlling gastro-intestinal (GI) disorders, improving protein and fibre digestibility, reducing harmful gas emissions and reducing susceptibility to diseases. Further research into overcoming these challenges would spur market growth.
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