Market Overview and Growth Factors:
Feed additives are ingredients which help to enhance the quality and quantity of feed. They are essential in improving animal nutrition and have gained prominence worldwide. Market Research Future (MRFR) has recently published a report on the global feed additives market, covering the trends and dynamics that can impact the growth of the market over the forecast period of 2017-2023. After thorough analysis, the market is due to reach USD 39,432.9 Mn at a CAGR of 5.96% over the forecast period.
The booming population growth has significantly increased the demand for food products. Meat and dairy products are also witnessing considerable demand. Thus, farmers have resorted to feed additives to increase the production of meat products. In addition, the rise in the level of awareness regarding animal welfare has prompted farm owners to adopt feed additives for providing proper nutrition to animals. In addition, an increase in the incidence of the outbreak of various diseases among livestock has also induced demand for feed additives. Other factors aiding the market growth include expansion of the compound feed industry, heightened demand for nutritional supplements among monogastric animals, and various strategies adopted by market players to introduce new and innovative products.
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On the contrary, the market growth might be disrupted by fluctuating price of raw materials and enactment of strict regulations pertaining to the use of certain additives in animal feed.
AJINOMOTO CO., INC. (Japan), Danisco A/S (Denmark), Solvay (Belgium), Chr. Hansen Holding A/S (Denmark), Alltech, Inc. (US), Cargill Incorporated (US), InVivo (France), Evonik Industries AG (Germany), Archer Daniels Midland Company (US), DSM (Netherlands), Nutreco N.V. (Netherlands), Novozymes (Denmark), Kemin Industries, Inc. (US), Adisseo (China), and BASF SE (Germany) are the notable players in the feed additives market.
July 2019 - DSM, a science-based company operating in the fields of health, nutrition, and materials, announced filing for EU authorization for its new additive for dairy cows. The company claims that additive can reduce the environmental footprint of milk and dairy products considerably. The methane inhibitor, 3-nitrooxypropanol or 3NOP was developed by a 10-year-long Project Clean Cow.
The feed additives market has been segmented based on type, form, and livestock.
By type, the feed additives market has been segmented into vitamins, amino acids, enzymes, carotenoids, acidifiers, prebiotics, lipids, minerals, and others. The amino acids segment is estimated to lead the market over the forecast period.
By form, the feed additives market has been segmented into dry and liquid. The dry segment accounts for the largest share of 87.45% of the global market. Most of the feed additives are available in the dry form, and they provide a longer shelf life, which aids the growth of the segment.
By livestock, the feed additives market has been segmented into swine, poultry, ruminants, and others. Poultry is highly demanded in the Middle East and Latin America and is the leading the segment.
Region-wise, the Feed Additives Market has been segmented into North America, Rest-of-the-World (RoW), Europe, and Asia Pacific (APAC).
The APAC market has captured the largest share of 35.80% of the global market and is likely to expand with the same impetus over the forecast period. Booming population in the region has resulted in high demand for meat products. To increase the production of meat and related products, the usage of feed additives has increased significantly, which drives the growth of the market. Moreover, the APAC region is a low-cost production hub and accounts for the production of a substantial share of amino acids. The establishment of organizations which can encourage competition and expedite approval of ingredients and premixes can drive innovation in the APAC market. China is the major contributor to the APAC market and is followed by India. Rapid urbanization and economic upturn in these countries are signs that indicate a consolidation of the feed additive market.
North America is anticipated to be the fastest-growing market for feed additives. Towering concerns among farmers regarding animal health can be credited for the surging demand for feed additives in the region.
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