Beta Agonist Feed Additive Market Trends

There has been increasing pressure on the livestock industry, to meet the increasing demand for meat and high-value animal protein. Population growth, rising incomes in developing nations, and urbanization have led to a surge in global livestock production. The level of income and consumption of animal protein is directly related to the consumption of milk, meat, and eggs, which are increasing at the expense of staple foods. Due to a decline in the prices of meat and meat products, developing countries are beginning to consume large quantities of meat, at a much lower level of the gross domestic product than industrialized countries did, two to three decades back. Urbanization has led to increased demand for meat and milk products in cities when compared to the rural areas.

The global meat market has maintained its growth, and the global consumption of meat products is expected to witness a significant CAGR over the forecast period. The highest growth in meat consumption is expected from the Asia-Pacific and Latin American regions, because of changing diet patterns, urbanization, population, and economic growth. For example, Chinese demand for meat continues to surpass the domestic supply, according to Agriculture and Agri-food Canada.