Growth in Global Animal Feed Additives Market for Ruminants Attributed to Rising Food Safety Concerns

Feed additives are one of the most important segments of the meat production industry and have witnessed increased demand over the recent past. Feed additives serve as catalysts in preventing diseases in animals, improving rate of weight gain, improving feed digestion and conversion, and preventing vitamin deficiencies. Rising concern for the health of animals, especially ruminants such as cows, buffaloes, goats, sheep, and camels, has largely driven the global market for animal feed additives.

Animal Feed Additives Market in North America Challenged by Rising Demand for Organic Meat

Asia Pacific is by far the largest market for animal feed additives for ruminants. This region accounted for over 30.0% of the global animal feed additives market in 2014 and is estimated to continue gaining market share over the next six years. Apart from increased demand for animal feed additives, this region is driven by growing domestic demand for meat in countries such as China and India as well as its emergence as a leading meat exporter in the recent past.

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The rising demand for meat and dairy products in Canada and the US is a key factor driving the North America animal feed additives market for ruminants. However, an increasing section of the local population has been shifting from processed meat to organic products, which threatens to hamper the growth of the animal feed additives market in North America.

Rising meat consumption is also anticipated to boost the market in Europe, with countries such as the UK, Italy, and Germany driving demand for animal feed additives for ruminants.

Surge in Disease Outbreaks Strengthens Demand for Animal Feed Additives

According to a report by Transparency Market Research, the global animal feed additives market for ruminants is projected to grow from a value of US$4.4 bn in 2014 to US$5.9 bn in 2021, registering a modest yet steady CAGR of 4.30% from 2015 to 2021. The primary factor boosting the growth of this market is the escalation in meat consumption in almost all parts of the world. This increase can be attributed to growing population and change in eating habits.

Another major factor impacting the global animal feed additives market for ruminants is the recent disease outbreaks in livestock animals. The alarming incidence of swine flu and foot and mouth disease in the past decade has raised concerns of food safety and quality among consumers and vendors alike. Regulatory interventions have become more frequent and strict, prompting the standardization of meat products and increasing the usage of animal feed additives. Ongoing standardization processes especially in Southeast Asia has driven the demand for animal feed additives.

Rise in research and development spending on the part of industry participants, accompanied by frequent regulatory updates has also positively impacted the global animal feed additives market for ruminants. There is a strong presence of market players and a significant rise in business alliances. Some of the top participants within the market are Alltech Inc., Evonik Industries, CHR Holdings A/S, Cargill Inc., DSM, Danisco, Archer Daniels Midlands Co., Novozymes, Elanco, and BASF S.E.

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