Animal Feed Additives Market is Expected to Reach $47.75 bn by 2026
The Animal Feed Additives Market was valued at US$35.82 billion in the year 2018 and is estimated to reach US$47.75 billion by 2026, at a CAGR of 3.66%.
Feed additives are substances that enhance the nutritional efficiency of animals. The use of additives in veterinary feed is practiced from the early 1960s, especially, antibiotics are an integral part of veterinary health. Besides, several feed additives including probiotics, amino acids, vitamins and minerals produced through inexpensive methods are readily used as dietary supplementation to improve the nutritive value. The feed additives aids in enhancing the gut health of the animals helps in the optimization of the feed, reduces the usage of antibiotics, reduces the use of growth promoters and also address the consumer demands.
According to the UN Food and Agriculture Organization (FAO), 335 million metric tons of meat were produced in the year 2018 alone, which is four times more than the quantity of meat that was produced 50 years ago. Parallelly, there are growing concerns about the meat quality as the incidence of disease outbreak has risen in recent years. This prompts more use of feed additives to have quality products such as egg, meat, fish, dairy products, etc. Also, an inclination of meat consumption is primarily attributed to an increase in energy demands. Also, consumer trends for natural and organic had intrigued the companies to involve more in R&D to develop quality feed additives. This will reflect in the growth of the synthetic feed additive production segment, but the overall feed additive market is expected to have an upward growth trend during the forecast period. Among the feed additives, amino acids are one of the major segments that leaped over 23% as they are the building blocks of protein and contribute more towards the growth of the animals. Vitamins are the next essential nutrients that remark the growth, minimizes the deficiency disorders and are also the 2nd largest segment in terms of the volume consumption used among the feed additives market.
Poultry is one of the preferred choices of meat (35%) globally, due to its cost-effectiveness, more proteinaceous and availability with pork meat in the 2nd place. Recent incidences of avian flu had triggered the production of more healthy poultry and thence the focus of feed additives nutrients have increased. Besides, nutrition to achieve healthy pork meat is also essential.
Additionally, the number of pet owners has increased on a drastic scale accounting for nearly 471 million dogs and 373 million cats as pets. Pet nutrition is yet another segment that dominates the feed additives market that is predicted to possess immense potential, especially in the Asian Pacific region, which is already the forerunner in the veterinary feed additives market. The region is known for its livestock and agriculture-based economy which is expected to drive the market during the forecast period. China is the leader it the feed additives market with the production of soybeans, sorghum, barley, the fish meal that is exported worldwide. Soy from China is exported to the US and is said to be one of the reasons for China’s feed additive market contribution. Next is the western European nations which drive the market due to their ban on antibiotic usage and focusing on natural livestock produce. North American region followed by Latin America are the next set of contributors to the feed additives market. With stringent regulation on meat production.
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Optima Insights provides the latest update on the industry trends, products & pipeline analysis with country, regional and global revenue forecast till the year 2026. The analysis report has been segmented into Product (Antibiotics, Antioxidants, Amino Acids, Enzymes, Acidifiers, Vitamins & Minerals); Livestock (Cattle, Poultry, Swine, Aquatics); Form (Drug, Liquid); Region (North America, Europe, Asia Pacific, Latin America, Middle East and Africa)
Major companies which contribute to the feed additives market are Cargill, BASF, DuPont, Charoen Pokphand, Alltech, Evonik, Kemin Industries, Archer Daniels Midland, Nutreco, AFB International and many more…
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- History of the Animal Feed Additives Market, 2015 to 2017
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