Press release
Animal Feed & Feed Additives Market Driven by Rapidly Increasing Rate of Meat Consumption
The growing scope of animal husbandry has allowed a greater range of products and players to enter the global animal feed and feed additives market over the recent past. Feed additives provide the different nutritional and protective functions necessary to maintain the healthy growth of the animal while warding off risks of diseases and infections. Other functions of animal feed include enhancing weigh gain, improve digestion, and act as a nutritive supplement for any vitamin deficiencies. Feed additives have slowly but surely become an inseparable part of the animal diet on the farms and dairies.
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The greatest driver of the global animal feed and feed additives market, as experienced over the past few years, is the rapidly increasing rate of meat consumption. With the higher demand for raising animals, the global animal feed and feed additives market takes a significant push towards more profitable avenues.
On the basis of product types, the global animal feed and feed additives market has been categorized into antibiotics, vitamins, amino acids, acidifiers, feed enzymes, and antioxidants. The high demand for feed acidifiers is expected to propel the market segment at a CAGR of 6.3% during the forecast period. The valuation of the feed acidifiers market was US$1.0 bn in 2011 and is projected to reach US$1.6 bn by 2018. North America leads the amino acids market segment and the region holds 29.9% of the global market.
Animal feed and feed additives are extensively used to enhance animal nutritional growth, feed quality, and meat quality. Improving the feed quality remains the highest revenue generating factor in the global animal feed and feed additives market. Meat quality enhancement accounts for 21% share in the market.
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The report studies the global animal feed and feed additives market across four key regions: Europe, North America, Asia Pacific, and Rest of the World. In terms of revenue, Asia Pacific is expected to dominate the overall market till 2018. The region is estimated to account for 32.4% of the overall market revenue by 2018, followed by Europe. The demand for animal feed and feed additives is very high in Asia Pacific and the regional market is expected to expand at a CAGR of 4.0% during the forecast horizon. China leads the Asia Pacific market with 49.5% market share, followed by Japan. In Europe, the U.K. and Germany are among the major animal feed and feed additives markets.
Describing the competitive landscape, the report profiles some of the key players in the global animal feed and feed additives market such as BASF SE, Evonik Industries AG, Kemin Industries, Novozymes, DSM, Danisco A/S, Addcon Group GmbH, and CHR Hansen A/S.
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