Animal Feed Additives Market Will Reach USD 56.9 Billion By 2030

In 2023, the animal feed additives market had a total size of USD 41.3 billion, and it is projected to hit USD 56.9 billion by 2030, advancing at a rate of 4.7%, during the projection period.

This growth can be credited to the increasing meat consumption throughout the globe. Furthermore, growing awareness about the advantages of feed additives and the former outbreak of numerous illnesses has positively affected the market.

Increasing customer knowledge regarding the illnesses caused in livestock animals such as swine flu along with mouth and foot illnesses has augmented the worries regarding the quality of meat and safety, which has encouraged the utilization of feed additives.

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The amino acids product category is leading the industry. This can be ascribed to their ability to advance immunity, support animals to grow, and lessen the probability of skin and nail problems. Moreover, amino acids play an important role in avoiding cerebral dysfunction, which can outcome in muscular problems in animals. Thus, amino acids are projected to be heavily needed as a feed advancer and pet food ingredient.

The feed preservatives category is estimated to grow at the highest CAGR during the forecast period. The need for feed preservers is increasing mainly due to the rising attention of the feed producer to expand the shelf life of the item. In the past few decades, significant dietary variations have happened in livestock breeding, which has resulted in the augmented requirements and utilization of feed preservers like anticaking and mold inhibitor agents.

The poultry category is dominating the animal feed additives market. This development can be ascribed to the continuous development of broiler manufacturing across the globe. Different kinds of poultry feed additives obtainable in the industry are vitamins, antioxidants, acidifiers, and enzymes, which are used to surge productivity and add nutritious value to the item.

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A surge in eating is experienced in emerging nations where growing income and development are making customers add diversity to their meals. Therefore, emerging nations will remain to lead the poultry feed category because of the rising populace and high ratio of meat eaters.

The APAC region is dominating the global industry, this can be ascribed to a substantial livestock populace and varied farming economies. Major companies are projected to concentrate on increasing their poultry feed aids to fulfill the altering meat-eating preferences of customers.

Meanwhile, Europe's market is divided by innovation and severe rules about human health, the environment, and animal health. These rules often result in consistent product changes, such as bans and restrictions. Such reasons, armed with the free-trade contracts within the EU countries, are estimated to positively affect product development in the continent.

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