The Global Feed Additives Market has witnessed a constant demand during the last few years and is projected to reach USD 39,432.9 million at a CAGR of 5.96% by 2023. Feed additives are substances for farm animals used to enhance the quality of animal nutrition as well as improve the nutritional properties of animal fodder. Feed additives are either natural or chemical additive, which improves the feed performance when added, as they offer additional nutrients such as minerals and vitamins to the animal feed. Along with improving the feed quality, they also improve animal health by reducing livestock diseases.
Due to the increasing demand of nutritious feed products, the market is growing at an incremental pace of development globally. Feed additives are used to improve the feed quality along with animal health to reduce the diseases, which further enhances the quality of products derived from livestock. The North American market for feed additives will continue to witness significant growth over the forecast period due to growing increasing livestock’s health awareness of across the globe. Key players are investing in R&D for innovating the product lines. Moreover, leading players are also focusing on partnership with various research institutions and other associations to develop the products which meet consumer’s demands. The initial investments in the feed additives market are high due to high the raw material costs, certification cost, and approval from the feed additive regulating authorities. Also, the revenues are high as demand and population of livestock is increasing in various regions.
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Leading Key Players:
Major manufacturers are found to have a high focus on strategic acquisitions and business expansions. They are also involved in the strategic agreement which will further support the company to expand and reach out to consumers across the regions. Acquisitions are also done to mark the company’s presence and expand their business line. Additionally, the companies are inclined towards new product launch and their product promotions to strengthen their marketing base. The promotional strategy aids in retaining the existing customers and also to regenerate new customer base.
The key players profiled in Feed Additives Market Report are Cargill Inc. (U.S.), Archer-Daniels-Midland Company (U.S.), Evonik Industries (Germany), BASF SE (Germany), Adisseo France SAS (France), Alltech, Inc. (U.S.), and Danisco A/S (Denmark) among many others.
Latest Industry Updates:
Dec 2017 France based company, Adisseo announced the acquisition of a remowed global feed additives producer called Nutriad.
Sep 2017 Cargill acquired animal feed business of southern States Cooperative, Inc.
Oct 2017 ADM constructed a new feed-premix facility in Xiangtan, in Hunan Province, central China in order to expand their feed production lines.
Jan 2017 Cargill entered into a partnership with Delacon in order to propagate the natural, plant based feed additives market
The Global Feed Additives Market has been divided into type, form, livestock, and region.
On The Basis Of Type: Carotenoids, Amino Acids, Prebiotics, Vitamins, Enzymes, Acidifiers, Minerals, Lipids and Others
On The Basis Of Form: Dry and Liquid
On The Basis Of Livestock: Poultry, Swine, Ruminants and Others
On The Basis Of Region: Europe, North America, Asia Pacific and ROW.
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Among the regions, Asia Pacific is dominating the Feed Additives Market with more than one third of the global market share. In Asia pacific region, increase in disposable income and rising health consciousness have prompted the growth of meat sector. Consumers demand for animal based protein has also fueled up livestock production capacity in developing countries. The consumption of annual meat consumption is also estimated to increase up to 37 kg per person by 2030. With this, the consumption of dairy products is also anticipated to increase globally.
In Europe region, EU regulations engages in management and control of feed additives used in animal nutrition. EU regulations clearly indicates that new feed additives can be approved authorization only when it is sanctioned by a scientific evaluation by the European Food Safety Authority (EFSA). Regulation 1831/2003 controls use for additives and provisions on the labelling of feed additives or premixes of additives. EU Regulation 767/2009 may also include additional labelling requirements of additives used in the feed. Additionally, the rules set by Ministry of Agriculture is also strictly followed by the feed manufacturers in China.
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