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(MoneyNewsWire.Net, January 24, 2018 ) Global Feed Additives Market was worth $23.29 billion in 2016 and estimated to be growing at a CAGR of 4.5%, to reach $28.74 billion by 2021. The global feed additives market is developing at a significant rate due to the increase in the livestock population for meat consumption as a source of protein. Feed additives are vital in animal nutrition, as they enhance the quality of feed, and thereby enrich the animals’ performance and health. They also subsequently enhance the yield and quality of food from animal origin.
Feed additives are used in animal nutrition to boost the quality and properties of animal fodder to enhance features such as palatability preservation, overall gut health/digestive performance, and others. They have gained reputation globally, as they further the overall health of the animal, in turn enhancing the quality and quantity of meat produced from them. For example, poultry feed additives are used to enhance the bird’s egg-laying capacity, disease prevention, and feed utilization. Likewise, a swine diet consists of various natural and synthetic additives, such as high dietary levels of copper and zinc, acidifiers, and phytase to increase the productivity and profitability of this feed.
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The growth of the Feed Additives market is majorly driven by factors such as the rise in global meat consumption, a better understanding of quality feed, industrialization of the livestock industry, danger of diseases in livestock, and the ecological impact of the meat and dairy industry. Technology innovations are also playing a crucial role in the advancement of this industry. Another major factor driving the growth of the market is the demand for low-cost meat with superior nutritional value throughout the globe. Different regulatory structures, volatile economies, and increasing cost of operations are the major restraining factors for the market. And also, increase in the cost of raw materials for feed additives is a key challenge for the companies in the market.
The Global feed additives market is segmented based on type and livestock. The market for feed additives, on the basis of type, is classified into Antibiotics, Antioxidants, Amino Acids, Enzymes, Vitamins, Mycotoxin Detoxifiers, Prebiotics, Acidifiers, Probiotics, Feed Pigments, Feed Binders, Flavours and Sweeteners, Feed Minerals and each is further classified into subgroups. On the basis of livestock, the global feed additives market is segmented into poultry, cattle, swine, aquatic animals, and others. By livestock, the poultry segment leads the feed additives market. Amino Acids, antibiotics, acidifiers, and vitamins are the major sectors accounting for almost 50% of the entire feed additives market. Feed antioxidant is another high growth segment in this market owing to ramped-up efforts of manufacturers to avoid feed spoilage and wastage.
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The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. Asia Pacific emerged as the leading market for animal feed additives and accounted for more than one-third of the total market revenue. The poultry segment is developing as a leading livestock segment for the consumption of feed additives, trailed by swine and cattle, because of the increase in demand for poultry meat, consumer taste predilections, and rise in disposable incomes in developing economies, primarily in China and India. The Asia-Pacific region is expected to offer lucrative growth opportunities, owing to the considerable increase in feed production and increasing awareness among the consumers about the quality of meat, and dairy and related products.
Some of the major companies dominating this market are BASF SE, Cargill, Inc., Alltech, Inc., Novozymes A/S, Chr. Hansen Holding A/S, Archer Daniels Midland Company, Charoen Pokphand Foods Public Company Limited, Nutreco N.V., Evonik Industries AG, and Adisseo France SAS.
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