The feed additives market is estimated to be valued at USD 38.1 billion in 2021 and is projected to reach USD 49.6 billion by 2026, recording a CAGR of 5.5%, in terms of value. The market is primarily driven by factors such as increasing demand and consumption of livestock-based products and growth in feed production globally. Asia Pacific region accounted for the market share in the feed additives market owing to the presence of large livestock population and their growth. However, one of the restraining factors in the growth of feed additives market is the ban on antibiotics in different countries.
“By type, the phytogenics segment is projected to grow at the highest CAGR during the forecast period.”
Based on type, the phytogenics segment is expected to be the fastest-growing during the forecast period. Feed phytogenics includes wide range of substances herbs, spices, essential oils, and oleoresins, which helps in improving the gut health and growth. This segment is growing rapidly as consumers are increasingly concerned about the health issues in livestock.
“By livestock, the poultry segment is estimated to account for the largest share.”
The poultry segment of the feed additives is dominating the market. Poultry birds are majorly consumed for meat and eggs. The dominance of this segment is majorly attributed to the growing concern about animal health and consumer preferences for a specific color of yolk and meat.
“The Asia Pacific region is projected to grow at the highest CAGR during the forecast period”
Asia Pacific region is projected to be the fastest-growing market for the period considered for this study. The increasingly consumption of high-quality livestock-based products has led to the increasing demand for feed and increased awareness about the importance of quality feed among livestock producers and feed buyers.
The feed additives market is segmented region-wise, with a detailed analysis of each region. These regions include North America, Europe, Asia Pacific, South America, and RoW (Middle East and Africa).
Break-up of Primaries
- By Company Type: Tier 1 – 30%, Tier 2 – 25% and Tier 3 – 45%
- By Designation: Manager- 25%, CXOs– 30%, and Executives – 45%
- By Region: Asia Pacific – 40%, Europe - 32%, North America- 18%, and South America & Africa - 10%
This report segments the feed additives market on the basis of type, livestock, form, source, and region. In terms of insights, this research report focuses on various levels of analyses competitive landscape, pricing insights, end-use analysis, and company profiles which together comprise and discuss the basic views on the emerging & high-growth segments of the feed additives market, high-growth regions, countries, industry trends, drivers, restraints, opportunities, and challenges.
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