Global Feed Preservatives Market:
Market Outline: Global Feed Preservatives Market
Preservatives are the substances used to prevent the spoilage of food products. Feed preservatives are used in micro quantities in the animal feed to increase the shelf life of feed by averting spoilage of food products. Preservatives or anti-oxidants are most commonly used additives in animal feed to circumvent the oxidization of animal fats and oils. Feed preservatives are classified into two types namely, natural feed preservatives and artificial or synthetic feed preservatives. Natural feed preservatives are present in rosemary, citric acid, and vitamin E and shows the anti-inflammatory action. Feed preservatives are also used to maintain the livestock hygiene and improve their productivity.
Market Dynamics: Global Feed Preservatives Market
Industrialization of poultry sector, unpredictable crop harvesting patterns, increase in demand for safe and hygienic livestock products, and development of newer preservatives are anticipated to fuel the feed preservatives market over the forecast period. Furthermore, increase in export of food products around the world, changes in environmental conditions, and increase in awareness about the preservatives usage are expected to fuel the feed preservatives market over the forecast period. However, stringent regulatory guidelines, high cost of the preservatives especially natural derivatives, availability issues, and complexity in the manufacturing of synthetic preservatives are restraining the growth of global feed preservatives market.
Market Scope: Global Feed Preservatives Market
Feed preservatives market is segmented on the basis of preservative type, application, source, feed type, and livestock type
Based on the preservative type, It is segmented into the following:
Based on the application, It is segmented into the following:
Based on the source, It is segmented into the following:
Natural feed preservatives
Synthetic feed preservatives
Based on the feed type, It is segmented into the following:
Based on the livestock, It is segmented into the following:
Market Summary: Global Feed Preservatives Market
It is growing at a significant CAGR owing to increase in the use of preservatives in feed premixes to maintain the quality of products. However, market players are focusing on the development of newer feed preservatives which reduce the food spoilage and makes the livestock healthy and hygiene. Feed acidifiers also used as feed preservatives because these are effective against harmful bacteria. Market players are focusing to develop newer feed preservatives for increasing the shelf-life of the livestock products. Moreover, acquisitions & mergers, collaborations, product approvals, and product launchings are the strategies followed by the companies for dominating the feed preservatives market. For instance, in August 2017, Perstorp Holding AB announced that formic acid is on EU register of feed additives, classified in the functional group “1n:”- hygienic condition enhancer.
Regional Analysis: Global Feed Preservatives Market
Geographically, It is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America feed preservatives market holds a significant revenue share in global feed preservatives market owing to increase in demand for packaged and ready to eat food, rise in R&D activities for the innovation of newer preservatives, and increase in the awareness about the feed preservatives among key stakeholders. Europe feed preservatives market contributes a reasonable share to the global feed preservatives market owing to the industrialization of poultry sector, increase in the aquatic animals farming, high disposable income, an increase in the preference for quality livestock products in the region. Asia Pacific feed preservatives market expected to exhibit significant growth rate in global feed preservatives market due to unpredictable crop harvesting patterns, that creates a need for the feed storage, regulatory requirements for improving the feed quality, and increase in exporting of feed products might from the region.
Market Participants: Global Feed Preservatives Market
Some of the players in They are Nutreco N.V. (Netherlands), BASF SE (Germany), Alltech, Inc. (U.S.), Kemin Industries, Inc. (U.S.), Impextraco NV (Belgium), Biomin Holding GmbH (Austria), Perstorp Holding AB (Sweden), Novus International, Inc. (U.S.), and Cargill, Incorporated (U.S.) to name a few.
Notable Market Developments: Global Feed Preservatives Market
In June 2017, BASF SE and Sinopec expanded propionic acid production in China, which keeps feed grain fresh for a long time by preventing molding