Animal Feed Additives Market CAGR Projected to Grow at 2.7% through 2016 - 2026
As per the projections of the FMI report, the demand in the global animal feed additives market will increment at a CAGR of 2.7% during the forecast period of 2016 to 2026. The opportunities in this market were evaluated at US$14.0 bn in 2015. In the near future, the key vendors of this market are expected to further strengthen their position via mergers and acquisitions in order to expand their regional presence as well as add to their product portfolio. This report aspires to serve as a credible business tool for targeted audiences such as manufacturers and suppliers of feed manufacturers and processors, regulatory bodies, intermediary suppliers, and end users such as feed producers, livestock producers, animal husbandries, and poultry farms.
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Based on product type, the report segments the global animal feed additives market into vitamins, amino acids, feed enzymes, antibiotics, acidifiers, antioxidants, minerals, binders, and others. Among these, the segment of amino acids is anticipated to remain as the leading product type segment, producing a revenue of US$ 3.2 bn in 2016. Demand for amino acids will be driven by their increasing adoption in compound feed, such as methionine and threonine. Among all the product types, binders will witness the fastest growth in 2016 over 2015.
Rapid growth in the consumption of animal-based products, growth in feed production, standardization of meat products as a result of disease outbreaks, and implementation of innovative animal husbandry practices to improve the quality of meat are a few key factors driving the demand in the global animal feed additives market. On the other hand, banning of antibiotics in various countries, volatile prices of raw materials, stringent regulatory framework, need for quality control of genetic feed additive products that are produced in Asian countries, and sustainability of feed and livestock chain are a few obstructions mitigating the prosperity of this market. Nevertheless, vendors operating in this market are expected to gain new opportunities from the shift towards natural growth promoters and increase in demand for nutritional supplements for monogastric animals.
On the basis of livestock, the report bifurcates the market into swine, poultry, cattle, and aquaculture. Out of these, the segment of poultry is expected to remain the most prominent animal or livestock segment, constituting for nearly 45% revenue share, which would translate into a revenue of US$ 6.42 Bn in market value -- up from US$ 6.22 Bn in 2015. Demand for feed additives from the poultry segment will continue to grow at higher rate than animal/livestock segments.
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Geographically, the region of Western Europe is currently dominating the demand for animal feed additives, providing a revenue of US$3.86 bn in 2016, which is significantly up from its worth of US$3.78 bn in 2015. The North America feed additives market is second most profitable among all regions, followed by Asia Pacific except Japan (APEJ). Rising consumption of meat and eggs, combined with increasing emphasis on preventing foodborne and zoonotic diseases are expected to further fuel the global animal feed additives market.
Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.
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