Press release
Feed Additives Market to be Worth $51.2 Billion by 2030
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According to this latest publication from Meticulous Research®, the feed additives market is projected to reach $51.2 billion by 2030, at a CAGR of 5.3% from 2023-2030. The growth of this market is driven by the consistent growth in the compound feed sector, rising demand for meat and dairy products, and increasing disease outbreaks in livestock. In addition, factors such as the growing industrialization of the livestock sector and increasing utilization of feed additives in developing countries provide significant growth opportunities for manufacturers in the global feed additives market. However, the ban on the use of antibiotics in animal feed hinders the growth of the feed additives market.
Key Players
The key players operating in the feed additives market are Bluestar Adisseo Co. (China), Koninklijke DSM N.V. (Netherlands), BASF SE (Germany), Cargill, Incorporated (U.S.), Kemin Industries Inc. (U.S.), Alltech Inc. (U.S.), Nutreco N.V. (Netherlands), International Flavors & Fragrances Inc. (U.S.), Evonik Industries AG (Germany), Archer Daniels Midland (U.S.), ADDCON GROUP GmbH (Germany), Biovet S.A. (Spain) Royal AgriFirm Group. (Netherlands), Altilis Animal Nutrition (France), and Land O'Lakes Inc (U.S.).
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The global feed additives market is segmented by type, animal type, source, form, and geography.
Based on type, the global feed additives market is segmented into performance additives, specialty additives, and other types. In 2023, the performance additives segment is expected to account for the largest share of the global feed additives market. The large market share of this segment is attributed to the increasing awareness among the farmers about the benefits of amino acids, minerals, and vitamins; the rising demand for compound animal feed with higher nutrient contents to improve feed intake; and the growing use of performance additives to metabolism and efficiency of feed utilization for economic and eco-friendly livestock production. However, the specialty additives segment is projected to register the highest CAGR during the forecast period.
Based on animal type, the global feed additives market is segmented into poultry, ruminants, swine, aquatic animals, and other animal types. In 2023, the poultry segment is expected to account for the largest share of the global feed additives market. The large market share of this segment is attributed to the growing demand for micro-nutrients in poultry production, consumers' preference for poultry meat & eggs, low production as well as product cost of poultry meat, and high production of compound feed for poultry. However, the aquatic animals segment is projected to register the highest CAGR during the forecast period. The growth of this segment is driven by the rising consumption of fish and fish-based products, growing demand for high-quality aqua feed, and the advent of more sustainable technology in aquaculture.
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Based on source, the global feed additives market is segmented into synthetic feed additives and natural feed additives. In 2023, the synthetic feed additives segment is expected to account for the larger share of the global feed additives market. The large market share of this segment is attributed to the easier availability of synthetic raw materials, lower production costs, and stronger market penetration. However, the natural feed additives segment is projected to register a higher CAGR during the forecast period.
Based on form, the global feed additives market is segmented into dry feed additives and liquid feed additives. In 2023, the dry feed additives segment is expected to account for the larger share of the global feed additives market. However, the liquid feed additives segment is projected to register a higher CAGR during the forecast period. The growth of this segment is driven by the shift towards liquid supplements due to their improved shelf life and versatility for various applications.
Based on geography, the feed additives market is segmented into five major regions, namely North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global feed additives market. Asia-Pacific's major market share is attributed to the enormous demand for animal-derived products, including milk, meat, eggs, and seafood; the high livestock population; the growing healthcare awareness; and the large production of compound feed.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/feed-additives-market-5082
Key Questions Answered in the Report-
What is the current revenue generated by feed additives globally?
At what rate is the global feed additives demand projected to grow for the next 5-7 years?
What are the historical market sizes and growth rates of the global feed additives market?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
Which segments in terms of type, animal type, source, and form are expected to create major traction for the manufacturers in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global feed additives market?
Who are the major players in the global feed additives market? What are their specific product offerings in this market?
What are the recent strategic developments in the global feed additives market? What are the impacts of these strategic developments on the market?
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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