Global Feed Antibiotics Market - Analysis of Growth, Trends, and Forecast (2019 - 2024)
The global feed antibiotics market (henceforth, referred to as the market studied) was valued at USD 3.28 billion in 2018, and it is expected to register a CAGR of 3.12% during the forecast period (2019-2024). Asia-Pacific is projected to be the fastest-growing market.
Antibiotics in livestock are used to treat and prevent disease in the livestock. Despite the increasing global concern regarding the antimicrobial resistance in humans due to the use of antibiotics in livestock, meat consumption is increasing every year. This increases the demand for meat rising the production with an increase in treatment of livestock with antibiotics.
Increasing Meat Consumption
Despite the increasing global concern regarding the antimicrobial resistance in humans due to the use of antibiotics in livestock, meat consumption is increasing every year. According to the Organisation for Economic Co-ordination and Development, meat consumption has raised from 114 million metric tons in 2017 to 116 million metric tons in 2018. Poultry meat is the most consumed by humans with per capita consumption of 30.6 kilograms per year, followed by pork with per capita consumption of 23.5 kilograms per year and beef and veal with per capita consumption of 14.8 kilograms per year.
In general, antibiotics in livestock is used to treat and prevent disease in the livestock. But in a few countries, farmers also use this to gain weight of their animals. According to the American meat institute, consuming the meat of the animal treated with antibiotic cause antimicrobial resistance in humans (resistance to that antibiotics). Government of various countries is following strict regulations to monitor and regulate the usage of antibiotics by educating farmers and so on. This abolishes the misconception of usage in livestock leading to an increase in meat consumption, increasing the need for quality meat production with the help of antibiotics.
Market Share by Revenue
China has the largest market revenue share in 2018 and is forecasted to grow further in the forecast period 2019-2024. This keeps Asia-Pacific as the biggest market for antibiotics, by holding the largest market share in terms of revenue with the highest growth rate, followed by Europe, and North-America holds the second and third position respectively. The United States is occupying the second position after China. According to, The Centre for Disease Dynamic, Economics and Policy, Brazil, India, Chinna, Russia, and South Africa will experience more growth in antibiotic consumption due to the rapid increase in their population which also increases the need for animal protein driving the feed antibiotic market.
The feed antibiotics market is a consolidated market with few major players like Bayer Health care, Merck Animal Health, Boehringer Ingelheim International GmbH, and Elanco accounting for more than 50% of the total market share. The companies follow mergers and acquisitions, expansions, investment in R&D are some of the few most adopted strategies by these players in expanding their business. In February 2019, Merck Animal Health has expanded the capacity of its facility in Millsboro, Delaware.