Press release
Organic Feed Additives Market Comprehensive Research Reports, Industry Size, Booming Share, Phenomenal Growth and Business Boosting Strategies till 2024
Organic Feed Additives Market
The demand for organic food products has witnessed high growth in the last few years. The growing environmental concerns and increasing awareness regarding the benefits of organic products are the major factors affecting the demand for organic products, such as pulses, milk, eggs, meat products, and fruits & vegetables. This has increased focus on organic livestock farming and contributed to the demand for organic feed and feed additives. Organic Feed Additives Market is expected to reach USD 17.2 Billion by 2024 and is expected to register 5.2% CAGR during the forecast period. Organic feed additives are additives that are permitted in organic feed production. However, the high cost and fluctuating raw material prices are the major factors restraining the growth of the market.
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Key Players
Evonik Industries AG (Germany), Archer Daniels Midland Company (US), Cargill, Incorporated (US), Chr. Hansen Holding A/S (Denmark), Bluestar Adisseo (France), BASF SE (Germany), Invivo NSA (France), DSM (Netherlands), Nutreco (Netherlands), and Kemin (US) are some of the key players operating in the Global Organic Feed Additives Market.
Segmentation
The global organic feed additives market has been segmented based on type, livestock, form, and region.
Based on type, the global organic feed additives market has been classified into amino acids, vitamins, minerals, acidifiers, antioxidants, pre & probiotics, flavors & sweeteners, and others.
Based on livestock, the global organic feed additives market has been segmented into ruminants, swine, poultry, aquaculture, and others.
Based on form, the global organic feed additives market has been divided into dry and liquid.
The global organic feed additives market has been studied with regards to four key regions—North America, Europe, Asia-Pacific, and the rest of the world.
The North American organic feed additives market has further been categorized into the US, Canada, and Mexico. The European organic feed additives market has been segmented into Germany, France, Italy, Spain, the UK, and the rest of Europe. The organic feed additives market in Asia-Pacific has been segmented into China, India, Japan, Australia and New Zealand, and the rest of Asia-Pacific. The organic feed additives market in the rest of the world has been segmented into South America, the Middle East, and Africa.
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Regional Market
North America is expected to dominate the organic feed additives market. The demand for organic meat and animal-based products in the region is the major driving factor for the need for organic feed, and thus, for organic feed additives.
Asia-Pacific is the fastest-growing market owing to the growing commercial livestock farming and increasing awareness of organic feed additives in the region. China, India, and Australia & New Zealand are the major contributors to the growth of the regional market.
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