Feed Additives Market Size, Historical Analysis, Worldwide Trends | Industry Set For Rapid Growth with 5.96% of CAGR by Forecast 2023

Market Overview:
Feed additives have gained status globally, as they improve the quality as well as quantity produced by the animals. Changing lifestyle and consumer’s preferences towards healthy diet, natural products, and increasing meat consumption are the key drivers for the market. Growing health concerns among the increasing global population together with increasing awareness about the benefits of feed additives are expected to foster the demand for feed additives. For instance, poultry feed additives are used to improve the bird’s egg-laying capacity, disease prevention, as well as feed utilization.

Growing population in developing countries has increased the demand for production of poultry, ruminants, and other livestock for consumption, which has uplifted the demand for feed additives in the market. Furthermore, increasing consumption of poultry and meat products is adding fuel to the growth of the global feed additives market.

High nutritional benefits obtained from feed additives are also supporting its sale across the globe. Additionally, the enhancement of the product coupled with technological advancements is considered to be one of the significant reasons for the increasing growth of the feed additives market during the forecast period, 2017-2023.

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Major Key Players:
The major players in the Feed Additives Market,

Danisco U.S. Inc. (U.S.)
Adisseo France SAS (France)
BASF SE (Germany)
Archer-Daniels-Midland Company (U.S.)
Cargill Inc. (U.S.)
Nutreco N.V. (the Netherlands)
Neovia SARL (France)
Kemin Industries, Inc. (U.S.)
Alltech, Inc. (U.S.)
Phibro Animal Health Corporation (U.S.)

Market Segments:
Feed additives market is segmented on the basis of type, which includes amino acids, vitamins, acidifiers, carotenoids, enzymes, flavors, antibiotics, minerals, antioxidants, and others. Among all, the amino acids segment is dominating the market followed by antibiotics. The amino acids are extensively used in the diet of several livestock species for its high protein content.

On the basis of form, the feed additives market is segmented into dry, liquid, and others. The dry segment is dominating the market. Ease of handling and storage has uplifted the demand for dry form.

Based on the species, the feed additives market is segmented into poultry, ruminants, swine, and others. Among all, the poultry segment is dominating the market based on increased consumption of poultry and meat products globally. However, the ruminants segment is projected to witness steady growth over the forecast period owing to growth in the poultry industry.

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Regional Analysis:
The global feed additives market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The Asia Pacific region is dominating the feed additives market followed by the North America owing to rising population followed by increasing consumption of poultry and meat products in developing regions. Moreover, China is the major exporter of poultry and meat, which, in turn, drives the market of feed additives in the Asia Pacific region.

Furthermore, the U.S. dominates the North American feed additives market owing to the government regulations imposed on the use of antibiotics and allopathic medicines in livestock.

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This release was published on openPR.