Feed Additives Market Worth $39.7 billion by 2027 at a CAGR of 5.1% from 2019 to 2027
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According to this latest publication from Meticulous Research®, in terms of value, the global feed additives market is expected to grow at a CAGR of 5.1% from 2019 to reach $39.7 billion by 2027; whereas, in terms of volume, this market is expected to reach 27,832.1 KT by 2027. The high growth of the feed additives market is majorly driven by the factors such as increasing demand for nutritious animal feed, increasing disease outbreaks in livestock, growing livestock industrialization, and rising proliferation of feed additives in the developing countries. Further, rising consumer demand for meat and dairy products also helps to boost the demand for feed additives in the market. However, ban on the use of antibiotics is one of the major factors that may hinder the growth of the feed additives market over the coming years.
The global feed additives market study presents historical market data in terms of value and volume (2017 and 2018), estimated current data (2019), and forecasts for 2027- by type (performance additives and specialty additives), animal type (poultry, ruminants, swine, aquatic animals, and other), source (natural and synthetic), form (dry and liquid), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country level.
In terms of value and volume, performance additives held the largest share of the overall feed additives market in 2019. The large share of this market is mainly due to the increasing awareness among the farmers about the benefits of performance additives; rising demand for compound animal feed with higher nutrient content; and growing use of performance additives to improve feed intake, metabolism, and efficiency of feed utilization for economic and eco-friendly livestock production.
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The aquatic animal segment is estimated to witness rapid growth in the overall feed additives market during the forecast period form 2019—2027. Nutrition and feeding play central and essential role in the sustained development of aquaculture and, therefore, feed resources are continuing to dominate the aquaculture demands. In the last few years, fish nutrition has advanced dramatically with the development of new balanced commercial diets that promotes optimal fish growth and health. Hence, the growing aquaculture industry, increasing aqua feed production in the developing countries, and large requirement of essential nutrients for the proper growth of aquatic animals are some of the major factors fuelling the demand for feed additives from aquatic animal feed manufacturers.
Based on the source, the natural sources segment commanded the largest share of the overall feed additives market in 2019. The large share of this segment is mainly attributed to the increasing demand for organic meat and poultry products as it reduces the risk of chronic diseases from livestock. According to the Soil Association Organization (U.K.), in the U.K., the demand for organic eggs has increased, leading to rise in the organic poultry farming which increased by 8.5% from 2016 to 2017. Thus, the growth in the organic poultry farming is further boosting the demand for naturally sourced feed additives in the animal nutrition space.
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Geographically, Asia-Pacific region is estimated to witness the rapid growth in the overall feed additives market during the forecast period. The rapid growth of this market in the Asia-Pacific region is mainly attributed to the growing animal feed industry in the region. According to Alltech Global Feed Survey, in 2018, the feed production in Asia-Pacific region was increased by 3% over 2017, which is primarily due to increased pig and pet food production. Thus, the growing feed production in Asia-Pacific fuels the demand for feed additives for the enhancement of nutritional quality of feed. Further, the increasing production of animal protein in the region and growing incidences of counterfeit meat and other products are some of the major factors helping to drive the demand for feed additives in the region. However, the factors such as the decreasing number of feed mills and uncertain regulatory environment are expected to hinder the growth of feed additives market in the region.
Some of the major players operating in the global feed additives market are Adisseo France SAS (France), Koninklijke DSM N.V. (The Netherlands), BASF SE (Germany), Cargill Inc. (U.S.), Kemin Industries Inc. (U.S.), Alltech Inc. (U.S.), Nutreco N.V. (The Netherlands), DuPont de Nemours, Inc. (U.S.), Evonic Industries AG (Germany), Archer Daniels Midland (U.S.), Addcon Group GmbH (Germany), Biovet S.A. (Spain), Royal AgriFirm Group. (The Netherlands), Altilis Animal Nutrition (France), and Land O’Lakes Inc (U.S.) among others.
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