Feed Additives Market Counting healthy CAGR 7.16 Up To 2023 | by Industry Size, Shares and Revenue | Future Vision Footbridge by MRFR

Market Overview:
The global feed additives market has witnessed a constant demand during the last few years and is projected to reach USD 39,432.9 million at a CAGR of 5.96% by 2023. Feed additives are substances for farm animals used to enhance the quality of animal nutrition as well as improve the nutritional properties of animal fodder. Feed additives are either natural or chemical additive, which improves the feed performance when added, as they offer additional nutrients such as minerals and vitamins to the animal feed. Along with improving the feed quality, they also improve animal health by reducing livestock diseases.

Asia Pacific is witnessed to dominate the market and reached the market share of USD 9,982.2 million in the year 2017 based on increasing consumption of meat and poultry products in this region. Production of feed additives from North America is projected to witness a high growth rate of 7.16% during the given period owing to high investment in the agricultural and livestock sector in this region.

Based on the type, amino acids are dominating the market and is projected to hold a major share of 40.19% in the global market. Asia Pacific is dominating the market in the production of amino acids in which China is the major contributor. However, North America is the fastest growing region in the production of amino acids at a CAGR of 6.92% over the forecast period.

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Key Players:
Some of the leading players in the global Feed additives market are: Cargill Inc. (U.S.), BASF SE (Germany), Archer-Daniels-Midland Company (U.S.), Evonik Industries (Germany), Adisseo France SAS (France), Alltech, Inc. (U.S.), Danisco A/S (Denmark)

Key Findings:
Global feed additives market is projected to reach USD 39,432.9 million by 2023 at a growth rate of 5.96%

Acidifiers is witnessed to have the highest growth rate with CAGR of 7.24% over the forecast period 2017-2023

Amino acids are expected to grow at a CAGR of 6.92% in North America followed by Asia Pacific over the forecast period.

The liquid form of feed additives is projected to witness highest growth rate over the estimated period.

Regional Analysis:
As per the MRFR analysis, the global market for feed additives has been witnessing continuous growth during the forecast period owing to high health benefits associated with the consumption of feed additives among the livestock. In terms of value and volume, Asia Pacific is dominating the feed additives market holding the major share of 35.80%. In Asia Pacific, China is the major contributor to the growth of feed additives market followed by India. Moreover, North America is projected to be the fastest growing region at a CAGR of 7.16% over the estimated period.

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This release was published on openPR.