Quality checks on food additives in animal fodder has altered the global animal feed additives market for better. The global demand for animal feed additives will be crossing over US$ 14 Bn by the end of this fiscal year.
By 2026-end, the global animal feed additives market will expand its presence in the F&B sector by growing with a CAGR of 2.7%. There’s a strong likelihood for global animal feed additives market to generate US$ 18.75 Bn revenue till 2026.
Almost every segment of animal feed additives market is likely to witness steady growth in the near future, with globally revenues expected to surpass US$ 15.92 Bn by 2020. Amino acids are the leading product type segment in the animal feed additives market, and are expected to be valued at over US$ 3 Bn by the end of this year. The poultry segment will continue to be the largest animal stock segment in the global animal feed additives market. The segment accounts for over 45%of revenue share, representing nearly US$ 6.4 Bn in market value.
What are the Catalysts for Rising Demand of Animal Feed Additives?
There is an observable growth in every segment of animal feed additives market. Distributor channels are profiting from this growing trend of providing better health to animals. Consumers for animal feed additives are spread across various strata of agricultural industries. Several agro-industry segments dealing with animal breeding have adopted profound methods for choosing reliable food additives. Prevention of foodborne and zoonotic diseases is the utmost priority for consumers. Key companies like Nutreco N.V., Zoetis Inc., Phibro, Evonik Industries Ag are standardising their products’ quality by introducing specific product testing procedures.
Decline in preference towards antibiotics has catalyzed the rise of animal feed additives, especially those derived from natural and organic ingredients. The acceptance of food additives with functionality of immunisation from generic diseases is not just limited to animal fodder used for industrial animal breeding. Household segment of animal feed additives market has adopted new advancements that make pet food healthier.
Regional response to these trends is significant and there has been a steady expansion of animal feed additives market in Eastern Europe, APEJ, and North and Latin America. Meanwhile, Western Europe continues to be the most favorable key region for animal feed additives market with an estimated total revenue of US$ 3.89 Bn in 2016.
Consumer-end approach is changing as the trend to promote animal health is gaining momentum. Demand for animal feed additives is rising because of the converging outlook of humans towards the health of animals.
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