Innovation Benchmarking in Global Animal Feed and Feed Additives Market
Feed additives are used in minor quantities in forms of powder, liquids, pellet, and injections. High growth in global meat consumption has accelerated the demand for animal feed and feed additives. Consumer awareness about meat quality and healthy eating, along with frequent outbreaks of livestock diseases has fuelled the growth of the global animal feed and feed additives market. However, upward swing in raw material cost and regulatory structure might restrain the overall market growth during the forecast period. The global animal feed and feed additives market is expected to register higher demand owing to the increasing price of feed products. Ban on antibiotics due to adverse effects has opened further growth opportunities for the market.
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On the basis of product types, the global animal feed and feed additives market has been categorized into antibiotics, vitamins, amino acids, acidifiers, feed enzymes, and antioxidants. The high demand for feed acidifiers is expected to propel the market segment at a CAGR of 6.3% during the forecast period. The valuation of the feed acidifiers market was US$1.0 bn in 2011 and is projected to reach US$1.6 bn by 2018. North America leads the amino acids market segment and the region holds 29.9% of the global market.
The report studies the global animal feed and feed additives market across four key regions: Europe, North America, Asia Pacific, and Rest of the World. In terms of revenue, Asia Pacific is expected to dominate the overall market till 2018. The region is estimated to account for 32.4% of the overall market revenue by 2018, followed by Europe. The demand for animal feed and feed additives is very high in Asia Pacific and the regional market is expected to expand at a CAGR of 4.0% during the forecast horizon. China leads the Asia Pacific market with 49.5% market share, followed by Japan. In Europe, the U.K. and Germany are among the major animal feed and feed additives markets.
Animal feed and feed additives are extensively used to enhance animal nutritional growth, feed quality, and meat quality. Improving the feed quality remains the highest revenue generating factor in the global animal feed and feed additives market. Meat quality enhancement accounts for 21% share in the market.
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Describing the competitive landscape, the report profiles some of the key players in the global animal feed and feed additives market such as BASF SE, Evonik Industries AG, Kemin Industries, Novozymes, DSM, Danisco A/S, Addcon Group GmbH, and CHR Hansen A/S.
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