Animal Feed Additives Market to experience increase in growth by 2016-2024
Animal feed additives are utilized in animal nutrition to improve the properties and quality of animal feed. Feed additives help by enhancing the digestive performance, overall gut health, appetizing maintenance, and other factors. Thus, they boost the health of the animal and hence, improve the quantity and quality of meat produced.
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Global Animal Feed Additives Market: Growth Factors
The key factors propelling the growth of the global animal feed additives market include industrialization of meat products, increasing alertness about the quality of meat and dairy products utilized, and raising consumption of meat globally. However, high costs of raw material may probably hinder the growth of the global market as most of the additives such as antioxidants, vitamins, and feed acids are obtained from natural sources comprising tree barks, seeds, leaves, and so on.
Global Animal Feed Additives Market: Segmentation
The global animal feed additives market may be segmented based on type, function, livestock, form, and region. The type segment of the global market is divided into amino acids, acidifiers, binders, antibiotics, minerals, vitamins, antioxidants, and enzymes. The amino acid segment is sub-segmented into lysine, tryptophan, methionine, and threonine. The binders segment is divided into guar gum, calcium lignosulphate, and others. The minerals segment is diversified into iron sources, copper sources, zinc sources, manganese sources, and others. The vitamins segment of the global animal feed additives market is classified into fat-soluble and water-soluble. The antioxidant segment is sub-segmented into BHT, BHA, ethoxyquin, and others. The enzyme segment is divided into protease, phytase, non-starch polysaccharides, and xylanase. The enzymes segment of the market is anticipated to grow at a fast pace as it proves to be beneficial to the livestock by increasing the availability of nutrients which are vital for cell repair and growth. The function segment of the market is classified into the multifunction and single function. The livestock segment of the animal feed additives market is diversified into ruminants, poultry, swine, and aquatic animals. The aquatic animal segment is growing substantially due to increased demand for aquatic animal products and fish, and also the increased breeding of aquatic animals. The formulation segment of the global market is sub-segmented into dry, liquid, and others (powder and pellets).
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Global Animal Feed Additives Market: Regional Analysis
The Asia-Pacific region is anticipated to dominate the global animal feed additives market due to the remarkable rise in feed production, increasing alertness regarding the quality of dairy, meat, and related products among consumers in India and China.
Global Animal Feed Additives Market: Competitive Players
The prominent players in the global animal feed additives market include BASF SE, Alltech Inc, Cargill, Inc., Novozymes A/S, Evonik Industries AG, and Charoen Pokphand Foods Public Company Limited. The other key players in the global market are Nutreco N.V., Addcon Group, Archer Daniels Midland Company, Adisseo France SAS, Kemin Industries, Chr. Hansen Holding A/S, and Biomin.
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Global Animal Feed Additives Market: Regional Segment Analysis
The Middle East and Africa
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Emerging segments and regional markets
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