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Growing Demand In Consumption Of Meat Products Boosts Nutritional Feed Additives Market 2023-2032: BASF SE, Cargill, Archer Daniels Midland Company, Evonik Industries AG
Nutritional Feed Additives Market
The Business Research Company's Nutritional Feed Additives Global Market Report 2023 the rise in consumption of meat products as the major driver for the nutritional feed additives market's growth in the forecast period. Due to high meat consumption, the concern for high-quality meat is also increasing. Thus, to deliver high-quality meat, add-on nutrition feed additives are fed to the animals so that they have good digestion to build on more muscle and weight. This increases the yield and productivity and, hence, the demand for nutritional feed additives. Currently, meat and poultry consumption in the US is more than 100 billion pounds every year.
The global nutritional feed additives market size will grow from $3.89 billion in 2022 to $4.19 billion in 2023 at a compound annual growth rate (CAGR) of 7.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global nutritional feed additives market size is expected to grow to $5.41 billion in 2027 at a CAGR of 6.6%.
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Major competitors in the nutritional feed additives market are BASF SE, Cargill, Archer Daniels Midland Company, Evonik Industries AG, Nutreco N.V., Kemin Industries Inc., Adisseo, Alltech, Phibro Animal Health Corporation, and DowDuPont.
A key trend in the nutritional feed additives market includes feed additives manufacturers are investing in the R&D of organic feed additives. When compared to synthetic nutrition feed additives, organic feed additives have fewer side effects and also improve yield. Therefore, poultry farmers are switching to herbal nutrition feed additives. For instance, Agpulse Organics has come up with its herbal animal feed additive 'Govahnika-Biosheera', which is fed to cattle to increase milk productivity while maintaining the health of cattle and quality of milk.
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The nutritional feed additives market is segmented -
• By Distribution Channel: Direct, Indirect, Hypermarket/Supermarket, Specialty Stores, Online Retail
• By Livestock: Ruminants, Poultry, Swine, Aquatic
• By Additive Type: Antibiotics, Vitamins, Antioxidants, Amino Acids, Enzymes, Mycotoxin Detoxifiers, Prebiotics, Probiotics, Flavors And Sweeteners, Pigments, Binders, Minerals
• By Form: Dry, Liquid, Other Forms
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. North America was the largest region in the nutritional feed additives market
The Business Research Company's "Global Nutritional Feed Additives Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Nutritional Feed Additives Market Include:
1. Executive Summary
2. Nutritional Feed Additives Market Characteristics
3. Nutritional Feed Additives Market Trends And Strategies
4. Nutritional Feed Additives Market - Macro Economic Scenario
5. Nutritional Feed Additives Market Size And Growth
……………
27. Nutritional Feed Additives Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Nutritional Feed Additives Market
29. Nutritional Feed Additives Market Future Outlook And Potential Analysis
30. Appendix
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