Demand for meat drives growth in the feed additives market
Wednesday, 09 August, 2006
With the ongoing debate over antimicrobial resistance and its effect on human beings, alternatives to antimicrobial growth promoters are likely to gain R&D funding support and consequent volumes of uptake by end users.
Under the Commercial Ready Scheme, AusIndustry awarded a $2.1 million grant to BioDiem, an Australian biopharmaceutical development company working on a non-antibiotic antimicrobial, to enhance growth and feed conversion in chickens. The most prominent alternatives that are likely to gain market share at the expense of antimicrobials are feed enzymes, direct-fed microbials, feed acidifiers and essential oils.
Revenues in the feed additives industry totalled AU$130.7 million in 2005 and is expected to reach AU$175.6 million in 2012, according to analysis from global growth consulting company, Frost & Sullivan.
"The demand for feed additives is related to animal feed production and the consistent demand for meat and dairy products is expected to drive the growth of this market in Australia and New Zealand," Vignesh Raja, Frost & Sullivan research analyst, said.
"According to the Australian Bureau of Agricultural and Resource Economics (ABARE), the per capita consumption for poultry meat is estimated to increase from 38.0 kg in 2005 to 39 kg in 2010 and beef consumption from 36.7 kg in 2005 to 37.8 kg in 2010."
For more information, visit Frost & Sullivan.
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