Market Overview:

Feed additives in animal nutrition improve the quality and properties of feeds to improve their characteristics, such as maintaining taste, general intestinal function and others. They have gained worldwide fame as they promote the overall health of the animal while improving the quality of meat products. For example, poultry feed additives enhance bird reproduction, disease prevention and food use. The worldwide food additive market was at U$ 25.43 billion in 2019 and is expected to grow at a CAGR of 4.5% to reach US$ 31.69 billion in 2024. 

Market Drivers and Restraints:

The growth of the feed additives market is mainly due to factors such as increased world meat consumption, a better understanding of feed quality, the industrialization of the livestock industry, the risk of animal diseases and the environmental impact of the meat and dairy industry. Technological innovations also play an essential role in promoting this industry. Another important factor driving the world market is the demand for low-cost meat with higher nutritional value worldwide. The different regulatory structures, volatile economies and rising costs of businesses are the main constraints to the market. Also, increasing cost of feed additives is a significant challenge for the market.

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Report segmented as

By Type:

Antibiotics,
Antioxidants,
Amino Acids,
Enzymes,
Vitamins,
Mycotoxin Detoxifiers,
Prebiotics,
Acidifiers,
Probiotics,
Feed Pigments,
Feed Binders,
Flavors And Sweeteners,
Feed Minerals
By Livestock:

poultry,
Cattle,
Swine,
Aquatic Animals
Geographical Analysis:

The market has also been geographically fragmented in North America, Europe, the Asia-Pacific and the rest of the world. Asia-Pacific emerged as the leading market for animal feed additives and accounted for over one third of total market revenue. The poultry sector is developing as a major livestock sector for consumption of feed additives, followed by pigs and cattle, due to increased poultry demand, consumer preferences and increased disposable income in developing economies, mainly in China and India. The Asia-Pacific region is expected to offer lucrative growth opportunities due to the significant increase in feed production and greater consumer awareness of the quality of meat and dairy products and related products.

Important Market Players:

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, Adisseo France SAS.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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