Impact of COVID-19 On Animal Feed Industry and Forecast 2027 Due to the pandemic, the animal nutritional conference and the trade show have been postponed or cancelled until the further notice provided by regulatory authorities. Since feed plays a major role in the production of different livestock animals, feed additives act as a key ingredient in the production of nutrition enriched feed. This nutritional based feed helps livestock in their health management, reproduction, lactation, and brand equity. Due to the pandemic and lockdown, the supply chain of the raw ingredient has impacted the consumption and production patterns worldwide. Animals cannot get enough nutrition from regular feed hence the feed additives are added in their regular meal containing vitamins, fatty acids, amino acids, and trace minerals. The COVID-19 outbreak from December 2019 have impacted more than 100 countries across globe and significantly impacted the compound feed and additives market in 2020.
Overview of Animal Feed Market Increasing demand for animal-based products among humans will accelerate the market demand. Focusing more on animal health will also drive market growth. The growing momentum of proponents of natural growth is also expected to be active in the market. Increase in cattle farming is likely to result in increased animal feed demand. Increasing consumer awareness of the benefits associated with the use of feed additives to reduce disease decline has supported the need of the market. On the other hand, the increasing popularity of meat and meat related products and rising health problems in animals will promote new opportunities for animal feed. Whereas, investments in research and development (R&D) for improving food fortification processes are predicted to open up various opportunities for market growth in the coming years.
