Animal Feed Additives Market to Remain Steady with CAGR of Slightly Above 2%
The increasing disposable income, increase in number of patients suffering from zoonotic and food-borne diseases, surge in demand for phytolases, probiotics supplements, and increased inclination towards consuming frozen products are some of the major factors influencing the growth for animal feed additives market.
Furthermore, the demand for fishmeal is projected to increase as a result of expansion of aquaculture sector because consumers are moving towards supplements with higher proteins in diet.
- Requirement for environmental friendly animal production drives growth of animal feed additives market.
- The overall performance can be increased by improving fertility and health of the animals. This requirement has raised the expenditure to 70% on animal feed in the overall animal production.
- The widespread acceptance of antibiotics in animal feeds is seen as a rising trend in animal feed additive market.
- Countries such as Brazil and China are taking significant steps towards a more prudent use of antibiotics. Companies are seeking zootechnical additives registrations, as they are granted for exclusive products with significant beneficial effects on animal performance.
- The global animal feed additives market is expected to rise at a CAGR of 2.2% between 2019 and 2029, reaching US$ US$ 18,144 Mn by the end of 2029.
- Regionally North America emerged dominant in the global animal feed additives market. APEJ and MEA are likely to remain lucrative markets for animal feed additives through the course of the forecast period.
Key Factor(s) Influencing the Animal Feed Additives Market:
Increasing Concerns over Meat Quality: Livestock animals are frequently affected by a number of diseases such as swine flu, avian flu, foot and mouth infections, etc. As a consequence, the meat obtained from these animals have the potential to infect human beings as well. To avoid this, the demand for essential animal feed additives has been burgeoning and shall continue to grow in the future.
Enhanced Health Benefits for Animals: Animal feed additives provide benefits such as enhanced feed digestion, improved weight and protection from a host of infectious diseases. These benefits indirectly contribute to improved outcomes such as enhanced quality of meat, eggs and dairy products. This is augmenting the demand for animal feed additives.
COVID-19’s Impact on the Animal Feed Additives Market:
The COVID-19 pandemic has significantly impacted the animal feed additives market. The global animal feed industry has been affected due to closure of restaurants attributed to stringent nationwide lockdowns across the globe. Moreover, the outbreak has prompted consumers to shift to a plant-based diet, leading to a fall in meat consumption.
Countries such as Romania have prohibited exports of essential animal feed grains such as soybeans, maize and barley to non-European Union countries amid fears of the virus spreading exponentially. This downturn in the animal feed market has generated a plunge in the market for feed additives. As the world is headed towards a massive economic recession, the animal feed additives market shall register a significant downsizing of its operations. Key manufacturers must therefore ensure minimal supply-chain disruptions and device mechanisms to compensate employees in the post-pandemic period.
Anticipated Animal Feed Additives Market Value in 2029
US$ 18,144 Mn
North America, Latin America, Europe, APEJ, Japan, and MEA
Evonik, BASF DSM, Adisseo, DowDuPont, ADM, Nutreco, Cargill, Biomin, Alltech, Kemin Industries, Addcon and Bio Agri Mix.
Rising Demand for Environmental Friendly Animal Production
Livestock animals are often struck with diseases such as bird flu, swine flu, mouth and foot infections which has raised the concerns related to safety and the quality of meat products. This has led to the utilization of specialty additives. However, increasing demand of grains such as barley, maize and wheat from other commercial foods is anticipated to hinder the growth of the market. Rise in advanced technologies coupled with consistent enhancements in in the final production on the basis of type of feed and fluctuating regulatory trends are boosting the market.
Increase in Consumption of Meat Products Fuels Demand in North America
Due to high meat consumption, North America exhibits a considerably high demand for quality meat. Thus, in order to derive high quality meat, add-on nutrition feed additives are fed to animals so that they have good digestion to build on more muscle and weight. This is important to increase the yield and productivity of animals. This subsequently boosts the market for animal feed additives. A key point to consider here is that beef consumption in the US has exhibited a steady rise since 1970 to 2018. Currently, meat and poultry consumption in the US is more than 100 Billion pound every year. The nation therefore has emerged as one of the key consumers of animal feed additives. In addition to this, the rising meat consumption has bolstered the use of animal feed additives across various livestock segments such as poultry, ruminants, aquatic and swine.
Consciousness for Diets Paving Way for Growth
For improving growth, maintenance, and milk production of livestock, vitamins and minerals are considered crucial in the diets of cattle, goats and sheep. The naturally grazed food of these animals does not always contain a vital balance of these nutrients. Seemingly, the deficiency of certain vitamins can lower the life expectancy of animals and their productivity due to issues such as bone deformities.
In poultry, vitamin animal feed additives can help to provide proper nutrition needed to counter the stress of being raised in demanding condition. Making right kind of vitamins available according to species and their nutritional requirements can lead to improved meat or egg quality, extended shelf life and translate to better availability of essential nutrients for human consumption.
Poultry segment will remain dominant
Cattle segment likely to show a higher CAGR.
Amino acids account for the leading market share
Demand for antioxidants to rise in future
How Growth will Unfold
The growing population worldwide, particularly in the Asia-Pacific, will create tremendous demand for animal food and bring with it significant challenges to sustain food quality and production over the coming decades. Constant rise in the consumption of packaged meat and the emergence of key trends like ready-to-eat meals will pertinently lead to the implementation of stringent quality control measure
Growth in consumption of milk and meat products across the globe to gain proteins and various nutrients is anticipated to boost the market. Food additives are consistent component of the increasing meat production industry across the globe. These food additives are known to be the catalysts that assist in various activities such as improving the rate of weight gain in animals, the intake of vitamins, prevention of disease, conservation and digestion which result in improved quality of meat production. Due to such factors, the demand for animal feed additives market is anticipated to considerably rise. The demand for feed additives sourced from plant is likely to remain exceptionally high through the forecast period.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Animal Feed Additives Market: Forecast, Trend, Analysis & Competition Track - Global Review 2020 to 2026
The report on the global animal feed additives market is intended to offer global industry assessment for 2015-2019 and 2020-2026. In this study, Future Market Insights (FMI) covers some of the chief factors that are expected to impact the demand and supply of over the next couple of years. It includes detailed review of growth drivers, challenges, opportunities, and prevailing trends in the market. It therefore covers crucial information intended to help readers get a comprehensive overview of animal feed additives market.
Animal Feed Additives Market Taxonomy
The report segments the global animal feed additives market in detail to present an executive-level blueprint to the reader
- Amino Acids
- Feed Enzymes
- Feed Additives
- North America
- Latin America
- Asia Pacific Excluding Japan
The executive summary of the report covers country analysis, proprietary wheel of fortune, demand-side and supply-side trends, and opportunity assessment. Also, it offers recommendations to help companies establish a foothold in the global animal feed additives market.
Readers can find a detailed segmentation of the overall animal feed additives market share in this chapter. This section also highlights inclusions and exclusions to help readers understand the scope of the report.
Readers can find valuable information on the key segments within the market, besides relevant definitions in this chapter. Associated industry assessment is also carried out to study the animal feed additives market trends, prevailing dynamics, trade analysis, and supply and value chain. Consumers’ perception on animal feed additives market is explained in consumer survey analysis and social media sentiment analysis included in this chapter.
This chapter studies the growth trajectory exhibited by the animal feed additives across various segments. 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.
This chapter includes a detailed analysis of the growth exhibited by the market in North America. It also offers country-wise assessment of the market that covers growth exhibited in the U.S. and Canada. Readers can also find information on prevalent trends and regulations in the North America market for coconut milk market.
Readers can find detailed information on prevailing trends that are impacting the growth of the Latin America coconut milk market. Besides this, the chapter includes results of pricing analysis. It also examines the growth prospects of the animal feed additives in LATAM countries such as Brazil, Mexico, Argentina, and the Rest of Latin America.
The chapter discusses various factors driving the market across Germany, France, CIS, U.K., Spain, Italy, NORDIC, BENELUX, Rest of Western Europe.
This chapter includes a detailed analysis of the growth of the market in Asia Pacific, along with a country-wise assessment that covers China, India, Indonesia, Philippines, Australia & New Zealand, and the Rest of Asia Pacific. Readers can also find regional trends and regulations, affecting growth in countries across Asia Pacific.
The chapter discusses in detail key factors enabling growth in the animal feed additives market. Besides this, it offers information on the impact of regulations on the prevailing growth drivers and restraints in the market
The chapter discusses in detail various factors impacting growth witnessed by the market in various nations across Oceania.
This chapter provides information about how the market is anticipated to grow in major countries in the MEA region such as GCC Countries, South Africa, Turkey, and the Rest of MEA, during the forecast period 2020 - 2029.
In this chapter, readers can find detailed tier analysis and information on concentration of key players in the animal feed additives market along with their presence analysis by region and product portfolio. Readers can also find a comprehensive list of all leading stakeholders in the market, along with detailed information about each company, which includes the company overview, revenue shares, strategic overview, and recent company developments. Some of the leading companies operating in the market are BASF SE, Evonik Industries Ag, Cargill, Inc., Koninklijke DSM N.V, Nutreco N.V., Zoetis Inc., Novozymes A/S and Phibro.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the animal feed additives market report.
This chapter is intended to help readers understand the research methodology followed to reach conclusions and derive important qualitative and quantitative information, about the animal feed additives market.
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