In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Animal Feed Additives Market Report
The animal feed additives market by revenue is expected to grow at a CAGR of 4.87% during the period 2021–2026.
ANIMAL FEED ADDITIVES MARKET INSIGHTS
The global demand for animal-based protein is expected to grow by more than 50% over the next three decades. The growing awareness to maintain the overall health of domesticated animals and increase their productivity is surging the growth of the animal feed additives market. India, China, and Japan are the significant consumers of animal feed additives in the APAC region and accounted for a combined revenue share of USD 6,229.02 million in 2020. The growth of this market in the APAC region is due to the large livestock population and their growth rate. Companies should invest significantly in R&D activities, which ensure their success in the additives industry for the long term. The stringed food regulations have prompted farmers to feed their livestock with better feeds with natural and herbal additives. The natural products are expected to fuel the demand in the feed additives market during the forecast period.
The following factors are likely to contribute to the growth of the animal feed additives market during the forecast period:
- Increasing Demand for Animal Protein
- Probiotic Are Gaining Momentum in the Animal Feed Additives
- Growing Demand for Antibiotic Alternative
- Rising Trend of Premium Breeding & Organic Production
The study considers the present scenario of the animal feed additives market and its market dynamics for the period 2021?2026. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspects of the market. It profiles and examines leading companies and other prominent ones operating in the market
The global animal feed additives market research report consists of segments by type of species, product type, form. The growing population and increasing demand for nutritious food are gaining momentum in poultry farming across the globe. The use of feed additives in synthetic or natural additives is an essential part of achieving success in poultry farming in terms of poultry health and production. The US is the world’s largest producer of poultry and the second-largest exporter of poultry meat. This growth pattern is expected to continue as protein needs increase because of COVID-19 and ASF outbreaks across the globe. In China, sales of poultry additives increased due to an outbreak of African Swine Fever (ASF).
Most of the poultry and pork consumed today are raised using feeds containing amino acids. During the forecast period, amino acids will become even more essential to ensure that animal production systems are environmentally sustainable, and use limited natural resources. The APAC region has enormous potential and scope for amino acids, as many farmers are unaware of the benefits of amino acids.
Liquid feed additives are highly palatable and increase their consumption among animals, which helps reduce feed wastage and labor cost. The US is expected to boost the demand for liquid feed during the forecast period.
Market Segmentation by Type of Species
- Aquatic Animals
- Other Species
Market Segmentation by Product Type
- Amino Acids
Market Segmentation by Form
Insights by Geography
The animal feed additives market in APAC is expected to reach USD 13,117.60 million by 2026. China will be the most extensive feed additives market in the APAC region, followed by India, Australia, Japan, and South Korea. In APAC, the growing organized market for better animal farming techniques and various agrarian economies drives additives demand. Swine additives hold a significant share in China, Japan, South Korea, the Philippines, Thailand, and Vietnam. Eubiotics will be the second-largest revenue contributor to the market in APAC at USD 1,465.70 million by 2026.
Market Segmentation Geography
- North America
o South Korea
- Latin America
o Saudi Arabia
o South Africa
- Middle East & Africa
INSIGHTS BY VENDORS
The global feed additives market is intensely competitive. An increase in competition and business expansion will lead to vendors increasing their promotional and advertising expenses. Many players are expected to expand their presence worldwide during the forecast period, especially in the fast-developing countries in the APAC region, to gain more market share. Vendors will boost profitability through efficient production techniques that minimize production costs for meat products and mitigate associated risks in the upcoming years. Animal feed additives manufacturers have huge opportunities in APAC because of the increasing demand for premium foods for pets and for meat.
- Evonik Industries
Other Prominent Vendors
- Biovet SA
- Kemin industries
- Cargill India Pvt Ltd
- Zydus Animal Health
- Boehringer Ingelheim
- AB Vista
- Land O’ Lakes
KEY QUESTIONS ANSWERED:
1. How big is the Animal Feed Additives market?
2. Which region has the highest demand for Animal Feed Additives?
3. Who are the key players in Animal Feed Additives Market?
4. What are the major trends that are driving the Animal Feed Additives Market?
5. Which is the largest revenue-generating segment in the animal feed additives industry?