Animal Feed Additives Market Overview
The global animal feed additives market size was valued at USD 39.6 billion in 2021 and is expected to reach USD 53.7 billion by 2030, registering a CAGR of 3.5% over the forecast period.
This growth is attributable to the surging consumption of meat and animal-based products by consumers, the steadily increasing global population, and growth in the population of livestock.
Gather more insights about the market drivers, restrains and growth of the Global Animal Feed Additives Market
Animal feed additives are an essential component of breeding livestock, as they help in disease prevention in animals, improve the rate of weight gain, feed digestion, vitamin intake & conversion, and in so doing improve the quality of the meat. These are extensively utilized globally as they are vital for maintaining the overall health of the livestock on a commercial as well as non-commercial scale.
The U.S. has a significant meat-consuming population, which is increasing day by day; this is a major factor accountable for the increase in consumption of animal feed additives in the country. The U.S. has stringent rules and standards for the production of meat, which affects the global market directly. The animal feed additives industry is well-established and operated under strict regulations of authorities to maintain global standards. It is complementary to the animal feed and meat market and is significantly affected by changes in them.
Europe is the highest consumer of meat and therefore is a significantly larger consumer of animal feed additives. Similarly, the Asia Pacific region has the highest population growth with rising consumption. The accumulating demand for meat due to an increase in consumption and rise in the purchasing power of people is anticipated to drive the overall market.
Animal Feed Additives Market Segmentation
Based on the Product Insights, the market is segmented into Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers and Others
The amino acids segment dominated the animal feed additives market with a revenue share of over 34% in 2021.
The vitamin product segment accounts for the second-largest revenue share after amino acids.
Based on the Livestock Insights, the market is segmented into Pork/Swine, Poultry, Cattle, Aquaculture, and Others.
The poultry segment dominated the market with a revenue share of more than 37% in 2021.
Pork meat is extensively consumed, especially in the western hemisphere. It is used to make varied delicacies around the globe, more particularly in cold regions. Majorly used pork feed additives include antimicrobials, antioxidants, binders, emulsifiers, enzymes, and pH control agents. These additives help in driving high efficiency, productivity, and profitability in the meat industry.
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
The Asia Pacific region dominated the market with a revenue share of more than 33% in 2021.
Europe is the largest consumer of meat globally, which consequently impacts the demand for animal feed additives in the region.
Market Share Insights
May 2019: BASF SE started operations for a new animal additives plant in China to cater to the increasing product demand in the Asia Pacific region.
June 2021: A global producer of animal nutrition, and feed additive, i.e. Biomin GmBH, announced the participation in a four-year-long US$ 11.9 Mn EU-backed research consortium effort to address the challenges in pig and poultry production.
Key Companies Profile
The players involved in the market are heavily involved in product enhancements to gain an edge over competitors. Some prominent players in the global animal feed additives market include,
Kemin Industries, Inc.
Vitablend Asia Pacific Pte. Ltd.
Evonik Industries AG
Biomin Holding GmbH
Adisseo France S.A.S.
Archer Daniels Midland
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