The animal feed additives market size is expected to reach US$ 18,144 Mn by the end of 2029. According to a study by Future Market Insights (FMI), titled “Animal Feed Additives Market: Global Industry Analysis and Opportunity Assessment, 2019 - 2029,” the market is expected to expand at a CAGR of 2.2% over the forecast period (2019-2029). According to the report, the market will witness a gradual shift from antibiotics to feed additives made from natural and organic ingredients. The report offers a comprehensive overview of the market, covering key growth drivers, restraints, opportunities, and prevailing trends. It uses unique research methods to offer the most accurate analysis of the market.
It includes in-depth insights into the animal feed additives market. Some of these are:
- Asia Pacific is anticipated to grow at a steady rate as a consequence of high clinical urgency to curb incidence of zoonotic diseases and management of disease outbreaks, such as swine influenza and Ebola.
- In terms of revenue, Asia Pacific emerged as the fastest growing region and is projected to continue its dominance, with India and China likely to witness a remarkable growth in next seven years
- Poultry emerged as the largest livestock segment in 2019, with a dominant share in the market.
- The animal feed additives market is highly fragmented and competitive in nature with presence of well-established players
“Asia Pacific is likely to offer lucrative growth opportunities to the market. China is the largest producer as well as consumer of meat in the world, which make it one of the most attractive markets for animal feed additive. In addition to this, the rising demand from nations such as India and Indonesia will boost the animal feed additives market in Asia Pacific,” said a lead analyst at FMI.
Growing Need to Enhance the Overall Feed Properties Increases Demand
Increasing consumption of meat and meat products as the primary source of protein and other nutrients is estimated to further drive the demand. Feed additives are considered to be an essential source of nutrition for animals. They are proven to be beneficial for improving feed quality, digestion, and conversion, thereby improving overall animal health. In order to deliver high quality meat, add-on nutrition feed additives are fed to the animals so that they have good digestion to build on more muscle and weight. This increases the yield and productivity and hence, the demand for nutritional feed additives.
Rising Awareness About Benefits of Probiotics in Animal Nutrition to Fuel Demand
The growing emphasis on animal health and welfare and increasing trend of commercial livestock farming have led to availability of new products in the market place. The growing focus on research and development in probiotics to substitute antibiotic growth promoter feed additives has led to increasing popularity of probiotics in animal feed. The use of probiotics in poultry farming and breeding is expected to enhance the productivity and performance of feed products. The report states that rising uptake of probiotics over various domains will aid the growth of the global probiotics in animal feed market in the forthcoming years.
For More Detailed Insights on Animal Feed Additives Market
Increasing inclination towards consuming frozen products
Continuous rise in the consumption of packaged meat and increasing demand for ready-to-eat meals will pertinently lead to the implementation of stringent quality control measures. The high impact of meat production on the environment will further compel producers to use additives capable of reducing their energy footprint. Over the first three months of 2019 more than 85 million tons of meat was already eaten globally, indicating massive opportunities for the use of various animal feed additives. Animal feed additives play a crucial role in ensuring that the quality and health of source livestock are maintained to their highest standards. Enhancing animal feed with various nutrients and substances can help to improve digestion and weight gain in animals, besides preventing the occurrence of diseases.
Who is winning?
Some of the major players in the global animal feed additives market that are covered in this report are BASF SE, Evonik Industries Ag, Cargill, Inc., Koninklijke DSM N.V, Nutreco N.V., Zoetis Inc., Novozymes A/S and Phibro. The report also analyses the company-specific strategies related to key developments and market consolidation initiatives of key players.
Manufacturers are investing in the R&D of organic feed additives as there is a growing demand for organic and natural feed products in the nutritional feed additives market. The high impact of meat production on the environment will further compel producers to use additives capable of reducing their energy footprint.
Get Valuable Insights into Animal Feed Additives Market
Future Market Insights, in its new report, presents an unbiased analysis of the global animal feed additives market, covering historical demand data and forecast figures for the period between 2019 and 2029. The study divulges compelling insights into growth witnessed in the market. On the basis of additive type, the market can be classified into antibiotics, vitamins, antioxidants, amino acids, feed enzymes, feed acidifiers and minerals. In terms of livestock, the market can be segmented into ruminants, poultry, swine and aquatic. Based on source, the market is segmented into plant, animal and microorganism. On the basis of geography, the global market can be segmented into North America, Europe, Latin America, APEJ, Japan, Oceania, and MEA.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously track emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.