United States Feed Additives Market: Set to Explode and Reach US$ 4.8 Billion by 2028
How big is the United States feed additives market?
The United States feed additives market size reached US$ 4.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 4.8 Billion by 2028, exhibiting a growth rate (CAGR) of 3.2% during 2023-2028.
What are feed additives?
Feed additives are substances or dietary supplements that are intentionally added to animal feed or water to perform specific functions, including improving the nutritional value of the feed, enhancing animal health and performance, and promoting feed efficiency. These additives can be derived from natural and synthetic sources, depending on their specific function. Feed additives include vitamins, minerals, amino acids, enzymes, antibiotics, probiotics, prebiotics, antioxidants, and growth promoters. They are added to supplement the animal's diet, address nutrient deficiencies, promote digestion and absorption, prevent diseases, preserve feed quality, and optimize animal growth, reproduction, and overall well-being.
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What are the growth prospects and trends in the United States feed additives industry?
The increasing utilization of feed additives to meet the demand for meat products in the United States due to the growing population and rising disposable incomes are propelling the market growth. In line with this, the widespread product adoption to improve animal health, enhance growth rates, and optimize feed conversion efficiency, are driving the market growth. Additionally, the rising product demand to promote animal health, prevent diseases, and improve immune function owing to the growing awareness and concern for animal health, welfare, and the rising disease incidences are positively impacting the market growth. Apart from this, the increasing consumer preferences for ethically produced and safe animal products are also acting as a growth-inducing factor. Moreover, the widespread application of feed additives by livestock producers to achieve better performance and productivity, and reduce overall production costs by enhancing nutrient utilization, digestion, and feed conversion efficiency, is creating a positive outlook for the market.
In addition to this, the implementation of various government initiatives to restrict the use of antibiotics in animal feed due to concerns about antimicrobial resistance has led to a greater demand for alternative feed additives such as probiotics, prebiotics, organic acids, and plant-based extracts that can support animal health and growth without relying heavily on antibiotics, which in turn, is supporting the market growth. Furthermore, the increasing emphasis on sustainable livestock production practices and reducing the environmental impact of animal agriculture are propelling the market growth. Besides this, rapid advancements in feed additive technologies, such as the innovation in ingredient sourcing, formulation, and delivery systems that enable the development of more effective and targeted feed additive solutions are creating remunerative growth opportunities for the market. Looking forward, the market value is projected to reach US$ 4.8 Billion by 2028, expanding at a CAGR of 3.2% during 2023-2028.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Source:
Breakup by Product Type:
Flavors and Sweeteners
Breakup by Form:
Breakup by Region:
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