Animal Feed Additives Market: Segmented By Product Type (Antibiotics, Vitamins, Amino Acids, Acidifiers, Feed Enzymes, Antioxidants); By Livestock (Swine, Poultry, Aquatic and others); and Region - Global Analysis of Market Size, Share & Trends for 2019-2020 and Forecasts to 2030
[170+ Pages Research Report] Animal feed additives Market to surpass USD 28.3 billion by 2030 from USD 21.2 billion in 2020 at a CAGR of 4.64% in the coming years, i.e., 2020-30.
Animal feed additives are the food enhancements for farm animals to improve feed quality. Antibiotics, Amino Acids, Proteins, Acidifiers, Feed Enzymes, and Antioxidants that enhance the food quality of the product are some of the common feed additives. Feed additives indulge in many health benefits such as improving metabolism, reduce joint pain, reduce fecal odor, manipulate micro-flora, and many other benefits. These feed products are approved by various food & feed safety agencies including FDA, FFDCA and European Commission. Feed additives improve the digestion, immune system, reproduction, and stress relief in body. These feed additives are usually used in micro-quantities and also require careful handling and mixing.
Global Animal Feed Additives Market is expected to project a notable CAGR of 4.64% in 2030.
The animal feed market growth is anticipated to be double due to an increase in the higher demand for meat-based products by 2030. Improved consumer demand and excess consumption in livestock-based products has increased the animal feed additives market growth. Excessive consumption of feed additives in both developing and non-developing countries has acquired the Global animal feed additives market growth.
Poultry segment to grow with the highest CAGR during 2020-30
Global Animal Feed Additives Market is segmented by livestock into Swine, Poultry, Aquatic, and others. Poultry segment is projected to lead the market during 2020 and 2030. In the global meat industry, poultry comes out to be the second-largest meat-producing segment. The global consumption of the poultry segment has triggered the overall Animal Feed Additives market growth. Mounting sales in the poultry meat segment is further expected to promote the Animal feed additives market.
Boost in demand and consumption of livestock-based products
Global Animal Feed Additives market has observed prominent growth at a large pace. The increasing demand for livestock-based products such as meat & dairy products, eggs, are projected to rapidly boost the animal feed additives market growth. Poultry meat is the major driver for the growth of the market, globally, owing to its high demand, high population, lower cost of production. In addition, high consumption of animal feed by gym trainers as considering it the best source of protein is a prime factor driving meat production globally. According to FAO data, poultry meat production has attained 120.5 billion tons, while swine meat witnessed 118.7 billion tons, bovine meat recorded 70.8 billion tons, and ovine meat recorded 14.9 billion tons. Increasing trend towards animal feed sourced proteins in the form of eggs, milk, meat, or cottage cheese is projected to increase the market growth.
Stern regulations for use of antibiotics
Unyielding regulations in the use of antibiotics in animal feed are anticipated to restraint the market growth. Europe restricted the use of antibiotics in feeds as microbes extend to antibiotics that can be used as a risk to human and animal infections. The certain restrictions by Europe aid to decline the regional market. This was projected to become the major restraint for the Animal Feed Additive market. Additionally, mount in the prices of raw materials such as wheat, barley, bajra, maize, and others and severe regulations for feed additives hinder the market growth. Furthermore, recent and current epidemics such as swine flu, bird flu, COVID-19, and many others have drastically affected the Animal feed additives market growth.
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
Global 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. Europe markets have witnessed growth of over 3.5% maintaining its self-position in livestock production. Latin America driven by Brazil and Argentina are witnessed to grow the market by over 4% during the forecast period. Europe tends to dominate the Animal feed additives Market industry. The per capita consumption of poultry meat is highest in the United States and Israel with 49.8kg/ capita and 58.5kg/ capita, respectively. Cargill is one of the leading feed additives companies across the globe. It has expanded its competence in Ohio, producing about 86,000 tons of animal feed annually. The prominent key players in the market are focusing on strategic attainment, product launches.
Global Animal Feed Additives Market is further segmented by region into:
Animal Feed Additives Market Segments:
|Market size value in 2020||USD 21.2 billion|
|Revenue forecast in 2030||USD 28.3 billion|
|Growth Rate||CAGR of 4.64% from 2021 to 2030|
|Base year for estimation||2020|
|Quantitative units||Revenue in USD billion and CAGR from 2021 to 2030|
|Report coverage||Revenue forecast, company ranking, competitive landscape, growth factors, and trends|
|Segments covered||Product Type, Livestock and Region|
|Regional scope||North America; Europe; Asia Pacific; Latin America; Middle East & Africa (MEA)|
|Key companies profiled||Cargill, New Hope Group Co. Ltd., Perdue Farms Inc., Evonik Industries, Guangdong Haid Group Co. Ltd.Nutreco NV, Archer Daniels Midland Co., Land O’Lakes Inc., Chareon Pokphand Foods Plc, For Farmers NV, and Other Prominent Players.|
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