Animal Feed Additives Market is Projected to Reach $27,820 Million by 2023

"Demand for animal feed additives is highly dependent on demand patterns for protein-rich food, particularly meat and meat products. Developing economies of Asia-Pacific and Latin America are witnessing high demand for these additives, owing toan increase in awareness towards protein-rich diet" - According to industry expert

According to a new report published by Allied Market Research, titled, "Animal Feed Additives Marketby Additive Type, Livestock, Form, and Function: Global Opportunity Analysis and Industry Forecast, 2017-2023," the animal feed additives market was valued at $18,590 million in 2016, and is projected to reach $27,820 million by 2023, growing at a CAGR of 6.0% from 2017 to 2023. The amino acids additive type segment accounted for maximum share in 2016.

Feed additives are food supplements used for farm animals, which include vitamins, amino acids, fatty acids, and minerals. Since the global demand for meat and poultry products is growing rapidly, the adoption of safe and affordable feed additives is increasing in the end-use sectors. In addition, feed additives are gaining traction in the pet food segment, as the trend of pet humanization promotes health and well-being of pets..

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Increase in demand for meat and meat products has resulted in livestock production on an industrial scale. Mergers and acquisitions adopted by companies such as BASF SE and ADM have led to expansion of the livestock industry. Policies related to development of livestock have favored industrialization of the animal industry. As per a study conducted by the World Bank, the demand for industrialized meat production is expected to rise six times faster than the traditional meat production methods. Industrialization of meat production has promoted the concept of landless meat production facilities. Thus, meat production in developed countries has risen majorly due to optimum usage of land and allied resources. For instance, in the U.S., the concept of concentrated animal feed operations (CAFO) has gained popularity in the past, and similar kinds of models are actively adopted in other parts of the world. This popularity is due to increase in support of government and other financial organizations. Industrialization of this industry has led to use of advanced production processes to manufacture high-quality feed for livestock, which in turn has fueled the demand for feed additives.

The amino acids segment accounted for the 23.3% share, in terms of volume, in 2016. Amino acids can be provided via feedstuffs such as soybean meal, cereals, and others. The ongoing R&D activities to determine the exact requirement of each essential amino acid for animals is contributing to the market growth. These requirements depend on livestock species, their life stage, and health status. For instance, the amino acid requirement for piglets will be different from that of the growing pig. Therefore, feed additive manufacturers are focused on formulating the best available diets to ensure optimal performance with the lowest environmental impact.

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Key Findings of the Animal Feed Additives Market:

  • In terms of value, the feed acidifiers segment is anticipated to exhibit the highest growth rate of 7.0% during the analysis period.
  • Asia-Pacific is anticipated to lead the market in 2023, growing at a CAGR of 6.5%, in terms of value.
  • In 2016, lysine occupied nearly two-fifths share of the overall amino acids based animal feed additives market.
  • On the basis of form, the liquid segment dominated the overall market and is expected to continue its dominance over the forecast period.
  • In 2016, poultry segment occupied around half of the overall animal feed additives market.

In 2016, Asia-Pacific accounted for nearly one-third of the total animal feed additives market, and is expected to continue this trend, owing to increase in demand for animal feed products, rise in disposable incomes, and surge in demand for protein-rich meat diet.

The major companies profiled in the report include BASF SE, Cargill, Inc., Archer Daniels Midland Company, Novozymes A/S, Chr. Hansen Holding A/S, Alltech, Inc., Evonik Industries AG, Charoen Pokphand Foods Public Company Limited, Nutreco N.V., and Adisseo France SAS.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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Posted by on Friday November 16 2018, 9:41 AM EST. All trademarks acknowledged. Filed under Food, Pet Foods. Comments and Trackbacks closed. Follow responses: RSS 2.0

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