The global feed additives market is growing continually due to the rising consumption of animal protein-based products. Also, the growing demand to improve feed performance and, thus, animal health drive the market growth. Besides, the commercialization of feed additive products impacts the growth of the market positively. Moreover, the rapidly growing dairy products industry accelerates the market growth.
Resultantly, the global feed additives market research is witnesses rise in its size and revenues continually. According to Market Research Future (MRFR), the valuation of global Feed Additives Market Size Anticipated to Grow at a USD 49.62 Billion -2030, With CAGR Of 7.20% By 2023 – 2030. Augmenting demand for milk and meat products led by the rising consumption of these products among the ever-increasing global population acts as a major driving force for the market growth.
The quality of animal products such as eggs, meat, milk, leather, fur, and wool majorly depends on the feed quality and nutrition offered to the animals. Also, the demand for industrial livestock production has risen substantially. These factors encourage operators to increase their production by supplying feed enriched with additives such as amino acids, vitamins, enzymes, prebiotics & probiotics, and others.
This as a result, increases the share of the feed additives market, creating the demand for high quality animal feeds. Moreover, rising trend of pet adoption and providing them the best possible nutrition and care propel the market growth, driving the feed industry. Sale of feed additives is rising continually, which in turn, allows the market to garner constant traction across the globe.
Additional factors such as, the growing awareness among animal operators about the importance of nutrition levels in feed and advances in the feed additives manufacturing techniques boost the market growth. Simultaneously, increasing product launches of innovative feed additives, alongside the increasing strategic alliances between additive manufacturers and feed industry players bolster the growth of the market.
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Global Feed Additives Market – Segments
The report is segmented into four market dynamics;
By Type : Amino Acids, Vitamins, Carotenoids, Enzymes, Prebiotics & Probiotics, Minerals, Acidifiers, Lipids, and others.
By Form : Dry, Liquid, and others.
By Livestock: Poultry, Swine, Ruminants, and others.
By Regions : Americas, Europe, Asia-Pacific, Middle East & Africa, and Rest-of-the-World.
Global Feed Additives Market – Regional Analysis
The Asia Pacific region dominates the global feed additives market overview. The largest market share attributes to the growth of livestock feed industry. The region witnesses a heavy rise in improving the demand-supply ratio and the consumption of dairy & meat products. Surging demand for livestock products including milk, eggs, and meat in the region push the growth of the market.
Moreover, factors such as the rising demand for animal protein and meat products in the region act as growth catalyzing factor. India is among the world's largest producers and consumers of milk and other livestock, hence India accounts for a major contributor to the regional market growth. The APAC feed additives market is estimated to register a phenomenal CAGR during 2017-2023.
Europe is another lucrative market for feed additives, globally. The market is predominantly driven by the huge demand for dairy cattle feeds from the growing milk & meat products industry in the EU and Eastern European region. Besides, advances in the development of feed additives and farming practices for poultry and swine act as major growth drivers for the regional market. Germany accounts for the major contributor to the regional market growth, followed by France. The valuation of European feed additives market is to scale up exponentially during the forecast period.
The feed additives market in the North American region is growing continually. Rising demand for animal protein products drives the demand in the regional market. Moreover, the presence of several large manufacturing companies of feed additives in the region drive the market growth. The North American feed additives market is expected to register 7.16% CAGR during the assessment period.
Global Feed Additives Market – Competitive Analysis
Highly competitive, the feed additives market appears fragmented, with many well-established players forming a competitive landscape. To gain a larger competitive share in the market, mergers & acquisitions, collaborations, expansions, and product/technology launch remain key strategies for these players. They invest substantially to drive these strategic initiatives and R&D to develop a new product/technology. Manufacturers significantly invest in cutting-edge R&D that can support the innovation pipeline. These players compete based on pricing, quality, reputation, and services.
Market Players:
Players leading the feed additives market BASF SE (Germany), Cargill Incorporated (US), Archer Daniels Midland Company (US), Adisseo (China), Evonik Industries AG (Germany), Alltech, Inc. (US), DSM (Netherlands), Danisco A/S (Denmark), Solvay (Belgium), Novozymes (Denmark), Ajinomoto Co., Inc. (Japan), Chr. Hansen Holding A/S (Denmark), Nutreco N.V. (Netherlands), InVivo (France), and Kemin Industries, Inc. (US), among others.
Industry/ Innovation/ Related News:
April 17, 2020 ---- UMG Investments, an investment company in Ukrainian, announced acquiring a stake in animal fat and feed additives producer Feednova (Ukrainian). UMG focuses on developing business in the raw materials and processing sectors. Feednova is to process raw materials from external suppliers to produce feed additives and animal fat for farm and domestic animals. It is implementing a project to build a plant for the production of high protein feed additives and animal fat in Busk, Lviv region.
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