Egypt feed additives market is estimated to register a CAGR of 4.5% during the forecast period. The growing demand from the animal production industry and the rise in the consumption demand for meat are the prime drivers of the market. In recent years modern animal farms have developed extensively in numbers. The greater part of the domestic meat consumed is also locally produced, making Egypt an attractive market for supplies and imports of feed additives.
Key Market Trends
Demand For Animal Production Drives the Market
Increasing dairy and meat consumption demand in Egypt is boosting the animal production industry, which in turn directly aiding the feed additive market in the country. According to FAO, the country has 4.3 million heads of cattle in 2018 increasing to 4.5 million in 2019. The Egyptian government is pursuing increased domestic cattle production by growing the domestic heard size and increasing live cattle imports. Policies limiting the slaughter of cattle under 400kg and bulls less than two years of age are helping to drive domestic production. The government is also controlling some input costs for specific feed products, further incentivizing production.
Increasing Animals Diseases Drives the Market
The health of the animals is the primary concern for the animal production industries as it is crucial for the industries to grow them healthy to fetch the best price. To maintain the health of the animals, supplementary feed additives such as vitamins, antibiotics, enzymes, etc are essential. These feed additives provide the required nutrients and immunity to avoid the illness and death of the animals. For instance, beef cattle, which is the most consumed animal in Egypt is frequently affected by lumpy skin disease-causing serious damage to the beef industry. In order to reduce such diseases feed additives became inevitable in Egypt animal feed industry.
The Egypt feed additives market is highly concentrated, with the top ten companies accounting for more than 50% of the market share. The leading players in the market studied are focused on business expansion to increase their sales. These companies are also focused on strategic acquisitions and emerging along with effective product launches to build their brand image and increase their sales.
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