Feed Additives Market Witness Growth As Pet Health Receives More Attention

August 24 22:20 2021
Feed Additives Market Witness Growth As Pet Health Receives More Attention
Feed Additives Market
Increasing production of animal feed and growing consumption of dairy and meat products are some key factors fueling growth of the feed additives market

Feed additives are products that improve the quality of animal food to improve the animal’s health and performance and improve the quality of feed. These additives include amino acids, vitamins, fatty acids, minerals, fungal products and steroidal compounds. Prebiotics, acidifiers, essential oils, probiotics are some feed additives that enhance the immune response and promote animal and gut health.

The global feed additives market is expected to grow significantly over the forecast period due to developing concern for the health of pets and rising pet ownership. The increase in consumption of animal-based products, industrialization of the livestock industry, growing awareness among farmers and rising need for dairy products due to health benefits are some key factors expected to continue to fuel market growth going ahead.

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The global feed additives market size is expected to reach USD 60.5 Billion by 2028 and register a CAGR of 6.5%, according to the latest report by Reports and Data. Increasing demand for animal-based products is a key driver supporting market revenue growth. 

Feed additives are products that are used in livestock nutrition to enhance feed quality and improve total development and growth of animals. These products help in increasing feed intake and also provide necessary nutrients otherwise lacking in the diet. Rapid increase in cattle farming along with growing awareness about advantages of including additives in animal feed are some significant factors enhancing growth of the feed additives market. Additionally, many key market players are investing in R&D activities to develop more effective feed additives and are focusing on expanding their product lines. 

However, ban of usage of antibiotics in animal feed and increase in cost of production due to uncertain raw material costs are some significant factors projected to hamper growth of the global feed additives market between 2021 and 2028. 

The major vendors in the global market include
Cargill (US), DowDuPont (US), ADM (US), Evonik (Germany), BASF (Germany), DSM (The Netherlands), Solvay (Belgium), Ajinomoto (Japan), Novozymes (Denmark), Chr. Hansen (Denmark), InVivo (France), Nutreco (The Netherlands), Kemin (US), Adisseo (France), and Alltech (US). 

Some key highlights from the report:

  • Based on type, the amino acid segment revenue is expected to account for a high CAGR during the forecast period owing to extensive use of amino acids in cattle and pig feed.  
  • In context to form, the liquid segment is projected to account for largest revenue share over the forecast period. High revenue is attributed to factors such as easy handling, cost-effectiveness, and quick mixing with feed. 
  • Based on livestock, the poultry segment revenue accounted for substantial market share in 2020 and is projected to continue dominating other livestock segments between 2021 and 2028. Factors such as high demand for poultry products such as eggs, milk, chicken along with increasing population and recent trend for high protein diet are contributing to elevated growth of the segment. 
  • North American market revenue is expected to expand at a rapid CAGR throughout the forecast period owing to factors such as high consumption of animal-based products, strict regulations and standards for meat quality combined with availability of raw materials like corn and maize in abundance. 
  • Europe is expected to account for considerable revenue share during the forecast period owing to factors such as increasing demand for livestock products and ban on usage of antibiotics in animal feed. 
  • Adisseo announced acquisition of FRAmelco Group in September 2020. Adisseo is expected to become a leading specialty feed additives company as a result of this acquisition. 

 

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For this study, Reports and Data has segmented the global feed additives market based on type, livestock, form source, and region:

Based On Type: (Volume, Kilo Tons; Revenue, USD Billion, 2018 – 2028)

  • Amino Acids
  • Phosphates
  • Vitamins
  • Acidifiers
  • Carotenoids
  • Enzymes
  • Mycotoxin detoxifiers
  • Flavors & Sweeteners
  • Antibiotics
  • Minerals
  • Antioxidants
  • Non-protein Nitrogen
  • Phytogenics
  • Preservatives
  • Probiotics

Based On Livestock: (Volume, Kilo Tons; Revenue, USD Billion, 2018 – 2028)

  • Ruminants
    • Dairy
    • Beef
    • Calf
    • Others 
      • Sheep 
      • Goat
    • Poultry
      • Broilers
      • Layers
      • Breeders
    • Swine
      • Starter
      • Sow
      • Grower
    • Aquatic Animals
    • Others
      • Equine
      • Pets

Based On Form (Volume, Kilo Tons; Revenue, USD Billion, 2018 – 2028)

  • Dry
  • Liquid

Based On Source: (Volume, Kilo Tons; Revenue, USD Billion, 2018 – 2028)

  • Synthetic
  • Natural

Based On Region (Volume, Kilo Tons; Revenue, USD Billion, 2018 – 2028)

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

 

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About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries including Healthcare, Technology, Chemicals, Power and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise.

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