This research report offers analysis on the global animal feed additives market size and forecast, share, trends, drivers, and vendor analysis. The study includes insights on segmentation by products, species, form type, and geography.
The application of phytobiotics in feed Additives is likely to grow by 2024
The global animal feed additives market is expected to witness moderate growth during the forecast period. The need to increase livestock productivity is one of the major reasons driving the market. Also, the growing awareness of animal well-being, sustainable farming, and proper animal nutrition is increasing the market growth. Poultry is the largest segment with APAC accounting for the largest market share for the segment. However, the aquaculture segment is expected to grow at the fastest CAGR during the forecast period. The demand for aquaculture feed additives is increasing in the US, Nordic, and South Africa.
The demand for sustainable nutrients, the consumption of antibiotic-free products, and the growing awareness of organic animal farming practices are other major catalysts for the changing animal feed industry. The application of phytobiotics−plant based supplements− is growing as they are considered as natural, herbal, and effective for animal health. With the increasing awareness of the harmful effects of chemical supplements, farmers are looking for natural and chemical-free products.
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The global animal feed additives market is expected to grow at a CAGR of over 5% during the period 2018−2024.
The research report includes detailed market segmentation by product, species, form, and geography. The amino acids segment accounts for the largest share of the market. The eubiotic segment is expected to grow at the highest CAGR during the period 2018−2024. Amino acids are one of the key nutrients used for the healthy well-being of livestock. Hence, the rise in environmentally sustainable products is an important factor for segment growth. The APAC market is expected to post an absolute growth of 34% by 2024.
Poultry is the largest segment in the global animal feed additives market. The growing demand for high protein diets and the increasing population growth are augmenting well for the poultry feed additives segment. The segement will be driven majorly by the US, China, Brazil. But the emerging economies are likely to be the fastest adopter of poultry supplements during the forecast period. Factors such as increased awareness of organic nutrients and the high demand for poultry products are likely to boost the growth.
APAC is the largest market for swine feed and accounted for shares of approx. 35% in 2018. China, Japan, South Korea, the Philippines, and Vietnam are driving the demand for swine supplements due to high swine meat production. The growing trend of antibiotic-free supplements and the demand for premium meat in the EU are boosting the demand for swine additives in the European market.
Liquid form supplements are the largest segment in the global market. The demand is growing due to easy handling and mixing with supplements. They are excellent carriers and are nutrient-rich. Convenience and cost-effectiveness of liquid form nutrients are major factors boosting the growth of the segment. China, India, Indonesia, and Japan are the major markets for liquid form. The US region is expected to boost the demand for liquid nutrients during the forecast period.
Asia Pacific region is the largest animal feed additives market globally. A large livestock population in the region is driving the demand in the region. Further, the increased awareness of advanced animal farming techniques is fueling the demand in the region.
ADM , Alltech, BASF Group, Cargill, DSM, DuPont, Nutreco Leading the Global Animal Feed Additives Market
The global animal feed additives market is consolidating and competitive. The key market players are competing in terms of quality, innovation, and pricing. Thus, consumer choices and preferences differ from region to region and keep changing over time in response to geography, demographic, and social trends, economic circumstances, and marketing efforts of competitors. Due to the highly competitive and volatile environment, the future growth mainly depends on the ability to anticipate, gauge, and adapt to the constantly changing trends and successfully introduce new or improved products in a timely manner.
The market concentration is likely to grow, and global players operating in the market are expected to grow via non-organic strategies. New companies may lose shares because of the introduction of technologically advanced and innovative products from vendors with high promotional expenditure. Vendors also need to remain abreast with the upcoming products to have a competitive advantage over other vendors. An increase in competition and business expansion could lead to vendors increasing their promotional and advertising expenses as well as research and development costs, which may place pressure on their margins and affect their profits.
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KEY QUESTIONS ANSWERED
1. Which segment holds the largest share in the global feed additives market?
2. Who are the top players and what are their market shares?
3. What are the different types of feed additives available in the market?
4. How much is the value of animal feed additives market India?
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