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Animal Feed and Feed Additives Market Current Situation, Growth Forecasts and Top Key Players are Novozymes, Kemin Industries, Cargill, BASF, Adisseo, BIOMIN
Animal feed additives are a vital component for the growing meat production sector. Animal feed and feed additives are mixed with simple feed to convey nutrition and improve the overall growth of the animal. Feed additives provide benefits, such as improved weight, enhanced feed digestion, and prevention from various diseases. Animal feed additives are substances that are used for improving animal health. The feed additives are incorporated in varying doses and various forms, depending on the animal’s breed and species.
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The global animal feed and feed additives market can be classified, on the basis of types, and livestock. Based on the types, the market can be segmented, into antioxidants, vitamins, minerals, antibiotics, amino acids, enzymes, acidifiers, binders, and others. Based on livestock, the global market for animal feed and feed additives can be divided into swine cattle, poultry, aquatic animals, and others. Amino acids are essential for the growth of animals, especially poultry and swine. With regard to livestock, the poultry segment dominated the global animal feed and feed additives market, and accounted for an approximate share of 35%, in 2014.
The growing demand for protein, especially in Latin America and Asia-Pacific, is anticipated to become the key growth driver for the demand, of feed additives in the forecast period. The up surging demand for white meat, specifically in India and China, is estimated to drive the poultry feed additive preference, in the near future. Furthermore, various disease occurrences in livestock animals, such as foot and mouth diseases, and swine flu has led to the increased rules and regulations on meat quality and safety in the past decade, which has further encouraged the use of feed additives.
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Some of the major competitors in the global animal feed and feed additives market are Elanco, Novozymes, Kemin Industries Inc, Novus International, Cargill Inc. , ADDCON, BASF SE, Adisseo, Biomin GmbH., Koninklijke DSM N.V., Novus International Inc., and Nutreco N.V.
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