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(MoneyNewsWire.Net, May 17, 2018 ) The feed additives market is estimated to be valued at USD 22.62 Billion in 2017. It is projected to grow at a CAGR of 4.5% from 2017, to reach a projected value of USD 28.22 Billion by 2022. Feed additive products have become prominent in the recent years, owing to the growing awareness among the consumers regarding the impact of quality feed provided to the livestock on animal-based products such as meat and dairy products.
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Also, the inclination of livestock producers toward quality and nutritious feed products is fueling the demand for feed additives, as additives help increase the feed intake and enhance the growth performance of livestock.
The amino acids segment, on the basis of type, is estimated to dominate the feed additives market in 2017. This segment is also projected to grow at the highest rate as amino acids are widely used in the diet of several livestock species, especially in poultry, for its high protein supplement quality.
The dry feed additives segment, on the basis of form, is estimated to dominate the market in 2017. Several advantages offered by the dry form of feed additives such as ease of storage & handling, cost advantage over liquid form, and protection from processing heat are expected to drive this segment in the coming years.
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Asia Pacific is projected to be the fastest-growing market during the forecast period, due to the continuous modernization of animal production techniques and the growing awareness among the consumers regarding the impact of quality feed provided to the livestock on animal-based products such as meat and dairy products. However, conventional methods of feeding animals such as forages, crop residue, and open grazing may restrict the growth of the commercial animal feed industry, and subsequently restrain the growth of the feed additives market in this region. The other restraints of the feed additives market include a ban on antibiotics in several countries, volatile raw material prices, and stringent regulatory framework.
Companies such as Cargill (US), BASF (Germany), ADM (US), Evonik (Germany), Adisseo (France), and DSM (Netherlands) are the major manufacturers in the feed additives market. Apart from these companies, Chr. Hansen (Denmark), InVivo (France), Alltech (US), Nutreco (Netherlands), Novozymes (Denmark), DuPont (US), Solvay (Belgium), Ajinomoto Co., Inc. (Tokyo), Balchem (US), Kemin Industries (US), Novus (US), BIOMIN (Austria), Norel (Spain), and Nutriad (Belgium) are some of the major feed additives market participants who have a robust product portfolio in terms of feed additive products.
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