Feed additives are substances that are added in animal food to enhance the level of nutrition that cannot be provided with the regular food. They are also used to improve resistance against some diseases. The antioxidant market is one of the fastest growing additive markets globally because of their essential contribution to the stability of feed. Of the chemical compounds that have been investigated so far, three compounds are found to be outstandingly effective antioxidants for feeds and feed ingredients both efficiently and economically. They are Ethoxyquin, BHA (butylated hydroxyanisole), BHT (butylated hydroxytoluene). It was recently found that Butylated Hydroxyanisole, one of the most widely used poultry food additive, prevented mortality in chickens exposed to Newcastle disease virus.
The Global Feed Additives Market was valued at around USD 25.43 billion in 2018 and is expected to reach USD 31.7 billion by 2023, growing at a CAGR of 4.5% during the forecast period.
Feed additives have become essential for the proper health of the animals as they provide sufficient vitamins, minerals, amino acids and fatty acids required for their growth. The increasing demand for livestock production for different purposes like meat, dairy products and other benefits have been supporting the rapid expansion of the feed additives market around the world. These feed additivities will also increase the diseases resistance of cattle and birds to combat several infections.
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The growing consumption levels of meat across the globe is the major factor driving the global feed additives market. Furthermore, increasing requirement for improving the health standards of livestock, technological innovations, industrialization of livestock sector, and risk of new infections in animals, awareness about the benefits of these additives, need for nutritious meat at low prices and other factors are also fueling to the growth of the feed additives market around the world.
On the contrary, the strict government regulations, fluctuations in the economies of different regions, rise in the expenses of operations, and the augmenting prices of raw materials are hampering the growth of the market.
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The full report provides the complete information about the global feed additives market and highlights the overall market share, size, trends, and future analysis. It also offers an in-depth analysis of by explaining the market based on its type, livestock and geographical distribution.
On the basis of the type, the market is segmented into antibiotics, antioxidants, amino acids, enzymes, vitamins, mycotoxin detoxifiers, prebiotics, acidifiers, and probiotics, feed pigments, feed binders, flavors and sweeteners, and feed minerals. Vitamins, amino acids, acidifiers, and antibiotics register the major portion of revenue, accounting for almost half. Feed antioxidants segment is expected to grow at rapid pace during the forecast period.
On the basis of livestock, the market is separated into poultry, cattle, swine, aquatic animals, and others. Of these segments, the poultry segment contributes to the market in a large extent.
On the basis of geographical distribution, the market is segmented into North America, Asia Pacific, Europe, Middle East and Africa and Latin America. The Asia Pacific region dominates the global feed additives market with almost 34% of the total revenue. The increasing demand for poultry meat, growing disposable income of the people and changes in the food preferences of the people in economies like India and China supplement the market growth in the Asia Pacific. It is expected to witness more growth in the coming years owing to the increasing awareness about the benefits of these feed additives.
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The full report also highlights the competitive landscape of the market around the world, which includes some of the key companies like BASF SE, Cargill, Inc., Chr. Hansen Holding A/S, Alltech, Inc., Novozymes A/S, Archer Daniels Midland Company, Pokphand Foods Public Company Limited and Adisseo France SAS. The feed additives supplied by these companies are used to serve various animal species including ruminants, poultry, swine, equine, pets and aquatic animals.
Scope of the report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysis in terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
Related reports: Feed Pigment Market, Feed Enzymes Market, Organic Feed Additive Market
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