Animal Feed Additives Market Is Projected To Be Around $44.40 Billion By 2025
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A research study titled, “Animal Feed Additives Market by Product and Livestock - Global Industry Analysis and Forecast to 2025” published by Crystal Market Research, states that the Animal Feed Additives Market is projected to be around $44.40 billion by 2025.
The global animal feed additives market was worth USD 29.09 billion in 2016 and is prognosticated to be nearly USD 44.40 billion by 2025, growing at a compound annual growth rate (CAGR) of 4.81% during the forecast period. A feed additive is known as a food supplement and contains minerals, fatty acids, vitamins and amino acids that are used for farm animals that do not get sufficient nutrients form regular meals provided by the farmers. In certain cases animals may not grow properly if they do not have specific nutrients in their diet. The value of nutrition in animal feeds is influenced by various factors like presentation of feed, impact of intestinal health, digestibility and hygiene along with its nutrient content. The cost of these quality feeds is high due to which many of the farm animal’s diet contain soybean, wheat and maize. These feeds additives are extremely helpful in improving the weight of animals, preventing various diseases, and enhanced intake of vitamins, conservation and digestion which lead to better quality of meat production.
The global animal feed additives market is expected to witness significant growth due to its outstanding benefits for farm animals such as prevention of diseases like swine flu and bird flu, digestion, hygiene, sufficient intake of vitamins and enhanced weight of animals. Preference of high quality meat among consumers is one of the major factors that boost focus on animal health which has a positive impact on the animal feed additives market. Additionally, the disruption of bird flu or avian influenza increased the importance of animal health. Furthermore, increased production of meat and poultry is expected to spur the growth of this market on a global level.
On the basis of product the global animal feed additives market is segmented into Vitamins A, B, C, E, Antioxidants, Feed Enzymes, Antibiotics, Amino Acids and Feed Acidifiers. On the basis of livestock the market is segmented into pork/swine, poultry, agriculture and cattle. The leading market players of this industry are Kemin Industries, Novozymes A/S, DSM, Cargill, Danisco A/S and Evonik Industries. Geographically, this market is segmented into Europe, North America, Asia Pacific and Rest of the World.
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Key finding of the global animal feed additives market
- The demand of the global animal feed additives market crossed 256 kilo tons in the year 2015 and is anticipated to show significant growth in the upcoming years.
- The largest livestock segment in 2015 was poultry and is expected to grow swiftly in the following years.
- The demand of global animal feed in aquaculture was USD 4.45 billion in the year 2015 and is said to grow substantially in the upcoming years.
- Various enhancements in developing economies of the Asia Pacific are anticipated to drive the growth of the market in the region, specifically in poultry and processed meat.