MARKET REPORT 78 FEED & ADDITIVE MAGAZINE July 2023 The research report "Middle East and Africa Animal Feed Market Outlook, 2027" published by Bonafide Research estimates that the MEA animal feed market will register a CAGR of 5.01% during the forecast period 2022-2027. MarkNtel Advisors' research report "Middle East & Africa Animal Feed Market Analysis, 2021" points to a slower growth rate. According to the report, the market is likely to witness around 3.4% CAGR during 2021-26. MARKET DRIVERS & RESTRICTIONS According to the report of Data Bridge Market Research, grow in awareness regarding animal health, increase in demand for meat and its by-products, rising nutritional requirements of existing livestock, the rise in disposable income is increasing the consumption of animal-based products acts as driver for the animal nutrition market growth in the Middle East and African countries. According to the same report, the factors expected to restrain the market’s growth are high prices of animal nutrition products, and environmental challenges impacting livestock production. The growing technological advancements in the feed industry will create opportunity for the market in the forecasted period. The availability of counterfeit products in the market for animal nutrition can create a massive challenge for the market. According to another report by Bonafide Research, South African feed market has created opportunity for feed manufacturers to grow in the market. The increase in meat consumption per capita in South Africa increases the demand for animal products and indirectly for beef feeds. This has created opportunity to enhance animal productivity which in turn has led to growth in livestock production. Aquaculture feed is becoming more popular in Middle East countries where the government is even increasing focus to strengthen the trade ties regarding sales of meat, between the Middle East countries and other regions. Increasing consumption of sea food and rising per capita income with increase in sea food trade between the countries and region are proving as major factor driving the growth of the market. References: 1.Bonafide Research; Middle East & Africa Animal Feed Market Outlook, 2027; February 2022; https:// www.bonafideresearch.com/product/220129766/middle-east-africa-animal-feed-market 2.MarkNtel Advisors; Middle East & Africa Animal Feed Market Analysis, 2021; June 2021; https://www. marknteladvisors.com/research-library/middle-east-africa-animal-feed-market.html 3.Data Bridge Market; Middle East and Africa Animal Nutrition Market – Industry Trends and Forecast to 2028; November 2021; https://www.databridgemarketresearch.com/reports/middle-east-and-africa-animal-nutrition-market 4.2022 Alltech Agri-Food Outlook, https://www.alltech.com/agri-food-outlook
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