The Middle East and Africa Feed Additives Market are likely to record a compound annual growth rate (CAGR) of 5.2% during the foreseen period of 2022 - 2027.
Coronavirus pandemic has affected the business mainly in three ways, by directly affecting the production, creating supply chain and market disturbance and financial losses. The COVID-19 has impacted in every sector like restaurants, manufacturing units, flights, traveling and so many sectors to halt their services.
Due to the covid-19, the Middle East and Africa Feed Additives market are also facing difficulties, and it caused huge financial losses for the local Feed Additives manufacturing industries due to the financial crisis they had faced. As per the analysis, the industry experts are predicting that the market will record a surge in the future and will be back to the normal stage once the vaccine gets released. As we all are aware that in most countries, the government has already lifted the lockdown and given strict permission for the manufacturing companies to start their businesses with must-follow rules and regulations.
One of the major driving factors that help the growth of the Middle East and Africa Feed Additives market is the increasing awareness regarding quality feed. Degradation in animals’ physiological condition and construction of livestock farms are some other driving factors of the Middle East and Africa Feed Additives market.
Lack of reproduction and severe climate change are some of the growth affecting factors of the Middle East and Africa Feed Additives business. Availability of alternative products is also among the major challenging factors that are inhibiting the expansion of the Middle East and Africa Feed Additives industry.
Among these, the vitamins and minerals segment holds the major share of the market in terms of volume as they are essential for sustaining and improving the health of livestock.
The Middle East and Africa region is having the largest share of the feed additives market owing to increasing awareness regarding quality feed in some of the emerging economies in the area like the UAE, Saudi Arabia, Qatar, Egypt, South Africa, and other African nations.
Key market players:
Some of the key players in the Middle East and Africa Feed Additives market are Adisseo Asia-Pacific Pte Ltd, Cargill Asia-Pacific Holdings Pte Limited, DuPont Asia-Pacific, Ltd., Novozymes (China) Investment Co., Ltd., Evonik (SEA) Pte. Ltd., BASF Asia-Pacific, DSM Dyneema, Lonza Biologics Tuas Pte Ltd, ADM (Shanghai) Management Company, Chr. Hansen (Beijing) Trading Co., Ltd.
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