Global Animal Feed Additives Market: Market Outlook
A feed additive is a substance that is used with animal feeds in the form of an addition, mixture, infiltration, etc. Several additives are added in the animal feed to protect animal health, nutritional balance, and other purposes. These animal feed additives can provide nutritional value, texturize, flavor, emulsify and preserve feed. According to FAO, U.S., the livestock sector is one of the fastest growing agricultural segments contributing around 40 percent of the global value of agricultural production supporting the livings and food security of nearly 1.3 billion people. Growing energy requirements with increasing meat consumption are creating a need for processed poultry, aqua, and dairy products, which is likely to drive the growth of animal feed additives. The consumers are looking for fresh, healthy and nutritional rich meat and meat products, to produce healthy and nutritional rich meat, animals need to healthy and nutritional feed, where additives play important role in the manufacturing of animal feed. Antioxidants, amino acids, vitamins, minerals, feed enzymes, binders, antibiotics, and many other additives are the key animal feed additives that improve the quality of the feed products and can fulfill the nutritional requirements of livestock.
Global Animal Feed Additives Market: Market Dynamics
Climatic changes, and decreasing quality feed products promoting numerous diseases in livestock’s in the past few years have increased concern for meat quality and safety which has prompted the use of animal feed additives in feed products. The rising industrialization of meat products owing to increasing demand protein-rich meat products along with safety and quality of the meat is boosting the demand for animal feed additives such as vitamins, acidifiers, amino acids, and other additives. Additives such as minerals, antibiotics, amino acids are added in the animal feed to prevent future diseases of the animal, these are widely used animal feed additives among feed manufacturers. Poultry, Aquatic, ruminant animal farmers prefer nutritional rich feed to improve the health and productivity of the animals to earn additional profits. This factor fueling the growth of the animal feed additives market.
Global Animal Feed Additives Market: Market Segmentation
Based on additive type, the global animal feed additives ingredients market has been segmented as,
Based on Livestock’s, the global animal feed additives ingredients market has been segmented as,
Based on form, the global animal feed additives ingredients market has been segmented as,
Based on Function, Global Animal Feed Additives Ingredients Market has been segmented as,
Based on Region, Global Animal Feed Additives Ingredients Market has been segmented as,
Global Animal Feed Additives Market: Key Players
Some of the key players are engaged in the global animal feed additives market are, Danisco Animal Nutrition, InVivo NSA SA, Adisseo SAS, Kemin Industries Inc., BASF SE., Nutreco NV, Alltech Inc., Beneo GmbH, Elanco Animal Health, Lallemand Inc., Novozymes AS, Phibro Animal Health Corp., Cargill Inc., Archer Daniels Midland Co. and others. These key players are focused on the research and development to innovate new and sustainable additives for the feed products.
Opportunities for the Key Players in the Global Animal Feed Additives Market
The meat production industry is witnessing an upward trend from the past few years in both developed and emerging markets which results in the increased production of livestock and meat, which accelerating the demand for animal feed additives for feeding the rising livestock’s population around the globe. The Asia Pacific will lead the growth of animal feed additives market owing increasing population, disposable incomes and increase in demand for quality meat products.
Animal feed additives are widely used in animal feed for multiple benefits including achieving nutritional balance and boosting animal health. Multiplicity in the application that includes nutritional value, preservation of feed, imparting texture, and flavor to feed have surfaced as the primary drivers of market growth.
Demand for High Quality Meat Drives Market Growth
The drastic rise in the energy requirements, driving the consumption of meat has increased the demand for different processed products such as poultry, and dairy products. Such developments are projected to positively influence the expansion of animal feed additives market. These additives play a vital role in enhancing the nutritional value of meat and meat products to satiate the burgeoning demand for healthy and nutritious meat and animal feed. Some key animal feed additives include antibiotics, Antioxidants, feed enzymes, amino acids, and binders. The fluctuating climate and availability of low-quality feed products are known to cause many livestock diseases over the past few years, accelerating the demand for high-quality animal feed additives. The growing concern regarding the safety and quality of meat products is pushing ahead the boundaries of growth of the animal feed additives market.
Major antioxidants used as additives include BHT, BHA, and Ethoxyquin. Different prominent amino acids found in these animal feed additives are lysine, methionine, threonine, and tryptophan. The significant feed enzymes sought after in animal feed additives include protease, xylanase, phytase, and non-starch polysaccharides. Both, water-soluble and fat-soluble feed enzymes are expected to generate significant revenue during the forecast period. Different highly demand feed acidifiers are butyric acid, formic acid, fumaric acid, and acetic acid. Guar (arabic) gum and calcium lignosulphate are the two leading binders in the animal feed additives market. Major minerals used as animal feed additives include manganese sources, zinc sources, copper sources, and iron sources. based on the form, the global market can be segmented into dry, granulate, and liquid forms. The global market can be further segregated based on livestock into swine, poultry, ruminants, and aquatic animals.
The development of the regional market is primarily driven by the demand for meat and meat products. Both the developed and developing economies are expected to expand the animal feed additives market size with a high production rate of livestock and meat. This directly influences the demand for feed which accelerates the consumption of animal feed additives. Owing to the rise in high-quality meat products, the Asia Pacific market is projected to lead the global market during the forecast period with high growth rate.
The prominent market players are investing in research & development to introduce new animal feed additive products in the market. They are focused to develop sustainable feed additives to cater to the market for a longer time in an efficient way. Innovation is driving the competition in the market. Established players profiled in the global market include BASF SE., Danisco Animal Nutrition, Beneo GmbH, Kemin Industries Inc., Archer Daniels Midland Co., Phibro Animal Health Corp., andbAdisseo SAS.