Global Feed Additives Market to Exhibit Significant Growth as Compound Feed Demand Increases

Inkwood Research estimates that the Global Feed Additives Market is estimated to grow with a CAGR of 5.39% in terms of revenue and 4.79% in terms of volume during the forecasting years of 2021-2028.

"Browse 205 Market Data Tables and 101 Figures spread over 335 Pages, along with an in-depth TOC on the Global Feed Additives Market Forecast 2021-2028."

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Feed additives involve the addition of extra drugs or nutrients for livestock, such as, amino acids, vitamins, fungal products, minerals, fatty acids, steroidal compounds, and pharmaceuticals. The additives may also influence hygiene, digestibility, and feed presentation, and affect intestinal health.

Surging Compound Feed Demand to Accelerate Market Growth

As per the United States Census Bureau, the United States' present population stands at over 329 million. The Census Bureau also estimates that the figure is expected to reach 417 million, by 2060, and surpass the 400 million mark in 2051. Likewise, the surging per capita income, aligning with the growing population, is anticipated to augment the demand for cash crops and food crops, globally. This aspect would also increase the need for food from animal origins, such as, milk, eggs, meat, fish, and others. Moreover, according to the Alltech Feed Survey, the United States exhibited a 5.1% increase in compound feed production from 2012, thereby accounting for more than 117 million metric tons, in 2018.

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Antioxidants is the Fastest-Growing Additive in Terms of Revenue

Antioxidants are used in animal feed, in order to prevent oxidation and the consequences of free radical intake, by the animals. Moreover, they play a vital role in improving the shelf life and stability of meat. Antioxidants eliminate the odor and rancid tastes, without altering the feed's taste, as well. The use of antioxidants results in a minimized deficit of several other oxidation-susceptible nutrients, like vitamin A, in addition to reduced antioxidant nutrient intake, such as, vitamin E and selenium, among others.

Asia-Pacific to Lead the Global Market in Terms of Volume and Revenue

Asia-Pacific's market growth is essentially attributed to the rising demand for animal products, the surging population, the increased demand for quality meat products, and the growing disposable income. Moreover, China is a significant exporter of meat, and producer of animal feed additives. The country's market growth is supplemented by a positive economic outlook as well as the rapid rates of urbanization. The augmenting culture of intensive farming systems, coupled with the growing numbers of local feed manufacturers across the Asia-Pacific, is projected to further fuel the region's market, over the upcoming years.

The global market is increasingly competitive and fragmented, constituting substantial multinational firms and domestic companies, vying for the market's share. Besides, owing to the market's rising profitability, as well as the low entry and exit barriers, companies continue to lose and gain market share, annually.

Some of the major companies in the market are, Bluestar Adisseo Co Ltd, BASF SE, Cargill Inc, Archer Daniels Midland Company, etc.

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