Animal Feed Additives Market to reach $21.9 Billion by 2022 | Hexa Research

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Research on Animal Feed Additives Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies and Forecasts, 2015 To 2022

Global Animal Feed Additives Market size was estimated at USD 16 billion in 2014. Growing meat consumption as a key protein source, especially in Asia Pacific and Latin America is expected to be a key driver for market demand over the forecast period. Increased focus on product innovation, resulting in high R&D spending is expected to provide new growth opportunities to industry participants. 

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High degree of regulatory intervention in developed markets of North America and Europe, coupled with raw material supply issues are expected to challenge product growth over the next seven years. Asia Pacific and LATAM animal feed additive markets, which are comparatively less regulated, are expected to reach USD 7.2 billion and USD 2 billion by 2022, respectively. 

With frequent regulatory updates and increasing R&D spending, the global feed additive industry is constantly evolving. In recent times, there has been a significant increase in mergers, acquisitions and partnerships among market participants, in order to enhance product portfolio, gain access to regional markets and to avail synergetic benefits, As a result, we have witnessed companies increasing their presence across the value chain by integrating and diversifying their product portfolio. 

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Key report insights suggest:

1) Global animal feed additives market was valued at USD 16 billion in 2014 and is expected to reach USD 21.9 billion by 2022, growing at a CAGR of 4% from 2015 to 2022.

2) Poultry feed additives dominate the market, with revenue estimated at USD 6.1 billion in 2014 and expected to grow at a CAGR of 4.3% from 2015 to 2022. Aquaculture feed additives market is expected to reach USD 1.29 billion by 2022, with an estimated CAGR of 4.2% over the next seven years.

3) Amino acids accounted for over 30% of global demand in 2014, with revenue estimated to reach USD 8 billion by 2022. The demand for feed enzymes and acidifiers is expected to grow at a CAGR of 5.3% and 6.5% from 2015 to 2022, respectively.

4) North America and Europe together accounted for over 55% of the global revenue in 2014 and are expected to witness marginal gains over the forecast period, owing to regulatory constraints and raw material issues.

5) Asia Pacific animal feed additive market was dominated by India and China, together accounting for around 70% of overall regional revenue in 2014. Brazil dominated the LATAM market similarly, accounting for 80% of total revenue in the same year.

6) The global industry is significantly concentrated and displays oligopolistic characteristics. Key companies in the market include integrated players such as DSM, Evonik, and BASF along with specialists such as Danisco, Elanco, Cargill Novozymes, Kemin, Novus etc.

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