Animal Feed Additives Market Size to Reach $37 Billion by 2022
The Global Feed Additives Market was valued at $28.6 Billion in 2016 and is estimated to reach $37 Billion by 2022 registering a CAGR of 7.03% over this period as per a report by Mordor Intelligence, a market intelligence firm.
Feed additives are essential in animal nutrition, as they improve feed quality, and thereby improve animals’ performance and health. Also, they subsequently enhance the yield and quality of food from animal origin.
The increase in domestic consumption of meat and aquatic products, along with technological innovations in the meat processing industry and increased industrial livestock, have accelerated the demand for high-quality meat and driven the companion animal feed market growth. For instance, Nutriad engaged in partnerships with Brazilian universities to evaluate its product portfolio for tropical circumstances.
The compound feed additives market is expected to register a CAGR of 4.1%, till 2022. Changing demographics such as swelling urban populace, increase in the income, growing trend of double income families and busy lifestyles in developing regions like Asia-Pacific have increased the consumption of convenience food. The increase in health awareness in Asia-Pacific has led to a surge in plant and animal protein demand. On the other hand, the recent epidemic outbreaks have made the meat quality a critical issue, especially in regions like Europe and North America. Various stringent regulations, especially in the EU, have restricted the market growth. Other restricting factors are price volatility and unsteady supply of raw materials.
Get the full report here: Feed Additives Market - Global Trends, Industry Competitiveness & Forecasts
The major segmentation in the report includes the market estimates by animal-type and product-type. The report provides an in-depth analysis of the feed additives market across different geographical regions such as North America, Europe, Asia-Pacific, and Middle-East & Africa along with further country-wise segmentation. It also includes vendor landscape while considering major companies such as Adisseo France SAS, BASF SE, Cargill, Inc., Danisco Animal Nutrition, Alltech, Inc. and others.
About Mordor Intelligence
Mordor Intelligence is a market intelligence and business advisory firm. The company operates in the business of industry analysis and consulting. In today’s fast-paced and competitive business environment, every customer has unique information requirements. With an eye to such requirements, Mordor offers custom market intelligence and advisory services along with syndicated reports, to help them gain an edge over the competition.
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About the Author: Akshay Rathi is working as a Research Associate with Mordor Intelligence, a market research and consulting firm based in Hyderabad, India, with expertise in fundamental research and analysis.
Mordor Intelligence is a market research and consulting firm with expertise in accurate research and analysis.
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