Press release
Feed Preservatives Market Global Forecast till 2024 and top keys are Kemin Industries, Inc. , Nutreco NV , Cargill, Incorporated (
Market Analysis
The global feed preservatives market is projected to register a 9.0% CAGR to reach USD 4,061.1 million by 2024. Feed preservatives are compounds that are used to slow down or prevent bacterial growth in animal feed. They are additives that help prolong the shelf life of compound feed by reducing microbial contamination. Antioxidants and mold inhibitors are the most widely used preservatives. The growing livestock and feed industries have boosted the demand for feed preservatives. An increased focus on food and feed safety has also contributed significantly to the rising demand for feed additives. The expanding aquaculture and pet food segments have opened growth avenues for feed preservative manufacturers. However, the growing awareness regarding the side effects among feed manufacturers and farmers has negatively impacted the demand for chemical preservatives, thereby hampering the growth of the global feed preservatives market.
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Market Segmentation
The global feed preservatives market has been segmented based on type, livestock, feed type, and region. Based on type, the global feed preservatives market has been divided into acidifiers, antioxidants, mold inhibitors, and anticaking agents. By livestock, the global feed preservatives market has been classified as poultry, ruminants, swine, aquaculture, and others. On the basis of feed type, the global feed preservatives market has been segmented into compound feed, feed premixes, and others.
Regional Analysis
Geographically, the global feed preservatives market has been divided into North America, Europe, Asia-Pacific, and the rest of the world. Asia-Pacific dominated the global feed preservatives market in 2018 and is expected to maintain its dominance during the forecast period. Asia-Pacific is the largest market for animal feed which is driving the growth of the feed preservatives market in the region. China being the top feed producing as well as consuming country in the world accounted for the majority share of the regional market in 2018. The feed preservatives market in India has been growing at a healthy rate as well. Rising population and an inclination toward high-protein food products have impacted organized livestock farming in Asia-Pacific. The North American feed preservatives market is expected to register a significant CAGR of 9.2% during the forecast period of 2019 to 2024. The US is the largest contributor to the growth of the North American feed preservatives market as it is the second-largest feed producing country in the world.
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Major Players
Kemin Industries, Inc. (US), Nutreco NV (Netherlands), Cargill, Incorporated (US), Impextraco NV (Belgium), Novus International, Inc. (US), Perstorp Holding AB (Sweden), Biomin Holding GmbH (Austria), Nutriad International NV (Belgium), Pestell Minerals & Ingredients Inc. (Canada), and Eastman Chemical Company (US) are the major companies in the market that compete based on market presence, product quality, and product price.”
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Kenneth Research provides market research reports to different individuals, industries, associations and organizations with an aim of helping them to take prominent decisions. Our research library comprises of more than 10,000 research reports provided by more than 15 market research publishers across different industries. Our collection of market research solutions covers both macro level as well as micro level categories with relevant and suitable market research titles. As a global market research reselling firm, Kenneth Research provides significant analysis on various markets with pure business intelligence and consulting services on different industries across the globe. In addition to that, our internal research team always keep a track on the international and domestic market for any economic changes impacting the products’ demand, growth and opportunities for new and existing players.
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