The market is expected to generate a incremental $ opportunity of US$ 4.1 Bn between 2022 and 2030
Category: Chemicals & Materials Published Date : June 2022 ID: CVC-00123-CH Format: PDF Pages: 342
Feed Additives Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Feed Additives Market was worth US$ 16.7 Bn and is expected to grow at a CAGR of 2.8% over the forecast period. The market is expected to hit US$ 20.8 Bn by 2030 end.
Product advancements in the market are expanding as there is a greater emphasis on incorporating probiotics and proteins in animal feed additives.
Animal feed additives manufacturers are committed to finding healthier solutions to replace nutritional shortages in animals to increase yield. Aside from that, the emergence of many diseases in cattle has increased the demand for healthier animal feed solutions.
What are the causes driving the rise in demand for Feed Additives?
Increasing consumption of animal-based commodities, increased feed output, meat product standardization owing to disease outbreaks, and the use of new animal husbandry practices to improve meat quality have led to an increase in the feed additive market.
People’s understanding of the function and dynamics of food nutrients, notably protein, in total physical and mental development, there is a growing preference for animal-sourced protein in the form of meat, eggs, or milk. These factors stimulate feed additives in feed because it improves nutritional quality.
What are the opportunities in the Feed Additives Market?
Regulatory bodies such as the US Food and Drug Administration and the European Food Safety Authority have enforced standards for the quality of food distributed to customers. Innovative animal husbandry strategies, such as using antibacterial feed additives, improve the quality of livestock products, increasing the Feed Additive Market.
What are the biggest challenges that the Feed Additive Market is facing?
Raw material price hikes are a serious concern for feed manufacturers worldwide. Natural sources of feed acids, antioxidants, and vitamins include seeds, tree bark, and plant leaves. The rising expense of extraction from these sources, combined with rigorous requirements for waste biomaterials and wastewater treatment, limits the expansion of the feed additives business.
The COVID-19 outbreak has created significant medical, societal, and economic issues. Whereas the medical community focuses on developing successful diagnostic and medical treatments, the feed sector focuses on producing healthy animal products by employing feed additives to combat diseases by giving defensive support.
Why is the preservative segment expected to grow at the fastest CAGR?
Over the projection period, feed preservatives are expected to increase at the fastest CAGR. The growing focus of feed manufacturers on extending feed shelf life has boosted the demand for feed preservatives. In the last few decades, animal breeding has had significant nutritional modifications, resulting in an increasing requirement for feed preservatives such as mold inhibitors and anticaking agents.
Which Feed Additive livestock is predicted to expand the most?
The poultry category is expected to be the largest and fastest-growing feed additives market segment. Concerns about animal health and human preferences for a specific hue of yolk and flesh drive demand for poultry feed additives.
Why is the dry form of Feed Additive so popular?
Dry forms are more popular among animal farmers since they are easy to mix with feed and store. Its availability in pellet and mash forms provides consumers with additional mixing options, which should boost the expansion of this industry.
Which Feed Additive source segment is likely to grow the most rapidly throughout the forecast period?
According to the source, the synthetic segment is expected to develop the fastest during the predicted period. The main elements boosting demand for artificial feed additives are easier availability of raw ingredients and lower production costs. Due to greater market penetration, synthetic feed additives will grow faster than the natural segment.
Why is the Asia-Pacific region cementing its global dominance in the Feed Additives Market?
Because of its enormous livestock population and rapid growth, the Asia Pacific area will dominate the worldwide market. The number of feed mills and feed output in the region has grown, particularly in India and Japan.
The increased number of feed mills in the region reflects the region’s increased feed production. China, the region’s largest feed producer, contributes greatly to the region’s leadership position, with Thailand and Indonesia emerging as feed-producing countries and India and Japan demonstrating consistent development in feed output.
The worldwide animal feed additives industry is highly concentrated, with large global and regional companies. Leading market players are emphasizing strategic alliances, mergers, and acquisitions as part of their growth strategies to build a strong presence in the industry. Besides collaborations, a strong emphasis on R & D for improved product development would help consolidate growth prospects over the evaluation period.
The top five competitors, Basf Se, Evonik Industries AG, Cargill, Inc., Koninklijke DSM N.V., and Nutreco N.V., are expected to account for 35%-45% of the overall market share.
Some of the key developments that have taken place in the Feed Additives Market include:
A list of some of the critical suppliers present in the market are:
Market Segments Covered in Report
By Region and Country:
Global Feed Additives Market 2022-2030: Report Coverage and Highlights
|Historical data available for||2017-2021|
|Market analysis||USD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030|
|Key regions covered||North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa|
|Key countries covered||US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt|
|Key segments covered||By Type, Livestock, Form, Source, and Region|
|Customization scope||Available upon Request|
|Pricing and purchase options||Available upon Request|