Global Organic Feed Additives Market has been projected to reach a valuation of USD 17.2 billion by 2024, with a CAGR of 5.2% during the forecast period of 2020 to 2024. Market Research Future (MRFR) provides details on factors that can play a prominent role in taking the global market ahead.
The recent COVID-19 impact has been analyzed as well to understand what would hinder the growth rate. Among factors, the global market can benefit from the rising preference for organic products, growing preference for a better quality of food, surging health awareness, hike in disposable incomes, and others can guarantee growth.
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Cargill, Incorporated (US), Evonik Industries AG (Germany), Archer Daniels Midland Company (US), Bluestar Adisseo (France), Chr. Hansen Holding A/S (Denmark), DSM (Netherlands), Nutreco (Netherlands), BASF SE (Germany), Invivo NSA (France), and Kemin (US) are making significant changes to ensure the market stays on the growth track in the coming years. These companies develop strategic moves to boost their market presence. Mergers, acquisitions, branding, the launching of innovative products, hike in funds for the research and development projects, collaborations, and others are reliable methods these players often use to move forward. MRFR enlisted its recent strategic changes to understand trends and market proceedings.
In June 2020, Innovad, a prominent name in the industry as a global supplier of animal health and nutrition solutions, announced that they had acquired Eco Treasures. The latter is known for being an innovative company with a specialization in the extraction of natural raw materials and diverse eco-friendly processes. This acquisition provides thrust to Innovad as a brand as it helps the company in living up to its commitment to turning sustainable. The step also secures Innovad’s position in the world as the only company, with organic procedures and functional feed additives, to have all the needed processes and competence under one roof to deliver sustainable solutions.
A COVID-19 analysis of the organic feed additives market reveals various disruptions in logistics, productions, applications by end users and others. These have prompted a slackening in the pace of market growth. However, the recent announcements made by governments regarding the lifting of lockdowns are expected to usher in good news for the market.
Global Organic Feed Additives Market for has been analyzed by MRFR experts based on type, livestock, and form. These segments have inputs regarding factors, and they are backed by numbers and figures to make the claims more reliable.
By type, the global report on the organic feed additives market has been segmented based on vitamins, minerals, amino acids, antioxidants, acidifiers, flavors & sweeteners, pre & probiotics, and others.
By livestock, Global Organic Feed Additives Market study on the organic feed additives market includes aquaculture, swine, poultry, ruminants, and others. The aquaculture and poultry segment are making substantial progress due to their huge demand in the food industry.
By form, the global report containing details of the organic feed additives market has been segmented into dry and liquid. The dry segment is getting traction for its convenience in transportation and use.
North America is the flag-bearer for the market, and it is expected to lead the market due to its standard measures for quality and better market demand for products. Asia Pacific is slated to be the fastest-growing market during the forecast period as several developing countries are tilting towards this market.
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