Animal Feed Additives market by Type (Amino acids, Phosphates, Vitamins, Acidifiers, Carotenoids, Enzymes, Mycotoxin detoxifiers, Others); By Livestock (Poultry, Ruminants, Swine, Aquatic animals, other livestock (equine and pet food)); By Form (Dry, Liquid); By Source (Synthetic, Natural) and Region – Global Analysis of Market Size, Share & Trends for 2019–2020 and Forecasts to 2030
Animal feed additives include Vitamins, amino acids, fatty acids, and minerals. These animal feed additives not only offer essential animal nutrition to farm animals, but also impact their appearance, cleanliness, digestibility, and effect on intestinal health, resulting in higher-quality meat products for human consumption.
Animal Feed Additives market is expected to project a notable CAGR of 4.69% in 2030
Animal Feed Additives market to surpass USD 62.63 billion by 2030 from USD 39.59 billion in 2020 at a CAGR of 4.69% in the coming years, i.e., 2021-30. Increased consumption of feed additives is due to increased consumption of animal-based goods, increased feed output, standardization of meat products due to disease outbreaks, and deployment of new animal husbandry methods to improve meat quality.
Recent highlights in the Animal Feed Additives market
• In February 2021, Kemin Industries released KemTRACE Chromium-OR, an organic compliant chromium propionate feed component for pigs, cattle, broilers, and horses.
• In February 2021, Alltech and DLG Group teamed together to help cattle producers in Scandinavia increase their profitability and efficiency. Both businesses are nearing completion on the purchase of Kärki-Agri, a Finnish company.
Animal Feed Additives market: Segments
Preservatives segment to grow with the highest CAGR during 2020-30
Animal Feed Additives market is segmented by Type into Amino acids, Phosphates, Preservatives, Vitamins, Acidifiers, Carotenoids, Enzymes, Mycotoxin detoxifiers and Others. Among these the Preservatives category is expected to dominate the market over the forecast period. The need for feed preservatives has risen as feed manufacturers place a greater emphasis on increasing the shelf life of their products. Significant nutritional changes in cattle breeding have occurred in the last 60 years, resulting in an increasing demand for the use of feed preservatives such as mold inhibitors and anticaking agents.
Increase in demand and consumption of livestock-based products
The use of feed additives in feed for the growth and development of farm animals is projected to expand as demand for livestock-based goods such as dairy and dairy-based products, meat, and eggs rises. Because of its great demand, cheap production costs, and reduced product pricing, poultry meat is the major driver of overall meat production growth in both developed and developing countries.
Ban on antibiotics in different nations
Feed producers throughout the world are facing a big challenge: rising raw material prices. Natural sources of feed acids, antioxidants, and vitamins include seeds, tree barks, and plant leaves. The feed additives market is being held back by the growing expense of extraction from these sources, as well as stringent rules for waste biomaterials and wastewater treatment.
Animal Feed Additives:
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
• Chr. Hansen
Animal Feed Additives market: Regions
Animal Feed Additives market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. In terms of value, the Asia Pacific region held the largest share of the global feed additives market. The existence of a high livestock population and their rate of expansion drive the market in the region. Furthermore, the number of feed mills and feed output in the area has increased, notably in nations like India and Japan. This increase in the number of feed mills reflects the growth in feed production in this region. China, the world’s largest feed producer, contributes considerably to the region’s leadership position, while Thailand and Indonesia are rising feed producers, and India and Japan continue to expand their feed output.
Animal Feed Additives report also contains analysis on:
Animal Feed Additives Segments:
• By Type
o Amino acids
o Mycotoxin detoxifiers
• By Livestock
o Aquatic animals
o Other livestock (equine and pet food)
• By Form
• By Source
• Animal Feed Additives Market Dynamics
• Animal Feed Additives Market Size
• Supply & Demand
• Current Market Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints