Global Feed Additives Market | Size | Share | Trends | Growth 2013-2017 | Forecast 2018-2024
Increased inclination towards monogastric production in emerging nations expected to unlock the potential of animal feed additives market over the forecast period.
In accordance with IFIF, global poultry protein production accounted for 98.9 million metric tons in 2015, expected to reach 200 million metric tons by 2050.
Growing importance for aquaculture is enabling to create lucrative opportunities for the market players due to increased demand for feed. The aqua feed continues to be the fastest growing segment of feed production. Poultry feed additives market expected to dominate the market share over the forecast time frame followed by Swine feed additives market.
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Stringent regulations to use antibiotics and other medications in the animal feed are expected to dampen the Feed Additives Market.
Feed Additives Market segmented on the basis of product type, livestock type, formulation, and end user
Based on the product type, Feed Additives Market segmented as follows
• Vitamins and minerals
• Amino acids
Based on livestock, Feed Additives Market segmented as follows
Based on formulation type, Feed Additives Market segmented as follows:
Based on region, Feed Additives Market segmented as follows:
• North America
• Asia Pacific
• Latin America
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Animal feed plays the vital role in the global food industry. The animal feed additives are the most crucial components to ensuring safe and affordable animal proteins. The demand for livestock protein food such as meat and eggs has seen significant growth across the globe. The booming poultry production enables create the huge demand for poultry feed additives market in future. The growth in poultry and swine industry, landless systems, and increased demand for purchased compound feed products anticipated to create lucrative opportunities over the forecast period.
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Geographically market has been segmented into following regions Viz. North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
Brazil animal feed additives market is expected to grow at significant CAGR due to increased awareness of swine nutrition and feeding strategies in order to produce disease-free livestock. Increased exports of protein meat such as beef and swine are also expected to maintain its stewardship over the forecast period.
Europe animal feed additives market is driven by increasing demand for poultry and swine production in the region. For instance, poultry and swine farms accounted for 77% of the expansion in EU. A rise in the livestock production creates demand for animal feed additives.
Emerging nations such as China, India expected to exhibit significant growth rates over the forecast period. India animal feed additives market is driven by adoption of sophisticated technologies such as automation and feed production livestock industry. Introduction of pelletized feed operations enables improve production efficiency in the poultry sector.
Global animal feed additives market dominated by key players such as Royal Agrifirm, AB Agri, Addcon Group, InVivo NSA, Royal De Heus, ForFarmers BV, ADM, BASF, Cargill, DSM, Danisco, Evonik, Adisseo France, Biomin, Kemin Industries, Nutreco. Market players are adopting cutting-edge technologies to produce animal feed, new product introductions, and expansion of geographical footprints to cater larger market.
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