The report is titled as’ ‘Feed Additives Market: Opportunity Analysis and Future Assessment 2020-2028’. An overview of conceptual frameworks, analytical approaches of the feed additives market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The feed additives market is expected to grow at a significant rate in the near future.
The feed additives market is estimated to reach at a value of US$ 40.7 Bn by the end of 2022 and expected to reach at a value of US$ 65.3 Bn by 2030 with a significant CAGR of 6.1%.
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Feed Additives Introduction
The modern day poultry industry is facing numerous challenges these days in poultry production, comprising environmental concerns, food safety, standardization of welfare principles, prohibition of nutritive antibiotics, gut health, feeding fiber-rich items and sustaining high efficiency of production. Approximately 70% of the cost in poultry production is used up for the cost of the feed, which seems to be the biggest concern for the poultry sector.
The usage of feed additives allows to enhance the efficiency of growth or/and egg production, safeguards from chronic disease and enriching feed utilization is a perfect alternative to confront the aforestated issues. As defined by the European Feed Standard Agency (EFSA), feed additives are the non-nutritive substances, microorganisms and preparations mixed in animal feed with the intent of enriching the quality of feed and the quality of food from animal origin, or to enhance the animals’ health and performance, for instance, offering improved edibility of the feed supplies.
The present day poultry industry has revolutionized immensely in the efficient and cost-effective production of superior quality and risk-free and completely safe eggs, chicken meat, and other poultry bioproducts. Nowadays, along with advancing at being efficient, the industry has had to optimize the well-being of the birds and cut off the effect of the industry on the environment. The employment of feed additives has been a crucial element of achieving this success.
Feed Additives Market Dynamics
The revolutionizing poultry industry in the past few years is one of the major factors that has driven the demand of feed additives across the world, thereby propelling the growth of the global feed additives market. The present day’s farmers expect and demand feed which is safe as well as healthy and sustainable. This requires distinctive constituents that can offer a nutritional texture, flavour, value, blend and preserve feed. For instance, preservatives, which adds a healthy and nutritious dimension for pigs, poultry, calves, cattle, rabbits and fish while avoiding feed from degrading and decaying too quickly. Such factors further stimulate the demand and applications of feed additives across the world, thus further projected to boost the growth of the global feed additives market in the years to come.
Other than that, the soaring consumption and demand of livestock-based products, including eggs, meat, dairy & dairy-based products among the consumers worldwide is also further expected to accelerate the demand of feed additives in the poultry sector, therefore supporting the growth of the global feed additives market in the forthcoming future.
In addition to that, there has been increased awareness among consumers regarding good health and about the purpose of food nutrients, which emerged as a trend towards animal-derived protein in the form of either eggs, milk, or meat. This also plays a positive role in driving the use of feed additives in poultry feed as it strengthens its nourishing quality. Attributable to which, the global feed additives market is estimated to grow rapidly over the coming years. However, the usage of antibiotics in the feed additives is prohibited in various countries across the world, which may act as a restraining factor for the growth of the global feed additives market over the forecast period.
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Feed Additives Market Segmentation
The global feed additives market is segmented on the basis of type, livestock, form, source and regions. On the basis of type, the feed additives market is segmented into Amino acids, Phosphates, Vitamins, Acidifiers, Carotenoids, Enzymes, Mycotoxin detoxifiers, Flavors & sweeteners, Antibiotics, Minerals, Antioxidants, Non-protein nitrogen, Phytogenics, Preservatives, and Probiotics. On the basis of livestock, the market is categorized into Ruminants, Poultry, Swine, Aquatic animals, and Others (equine and pets). Further, the feed additives market is segmented on the basis of form into Dry and Liquid. Furthermore, the market is segmented on the basis of source into Synthetic and Natural.
The research report classifies the global feed additives market based on type, livestock, form, source and regions.
- Amino acids
- Mycotoxin detoxifiers
- Flavors & sweeteners
- Non-protein nitrogen
- Aquatic animal
- Others (equine and pets)
- North America
- Latin America
- Asia Pacific
- Middle East
Feed Additives Market Key Players
The global feed additives market is dominated by Cargill, DowDuPont, ADM, Evonik, BASF, DSM, Solvay, Ajinomoto, Novozymes, Chr. Hansen, InVivo, Nutreco, Kemin, Adisseo, and Alltech, among others.
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