Animal Feed Additives Market Overview:
Global Animal Feed Additives Market was valued at $18,590 million in 2016, and is expected to reach $27,820 million by 2023, registering a CAGR of 6.0% from 2017 to 2023. Feed additives are vital animal nutrition, which improve the feed quality, yield & quality of food from animal origin, and animal health. The global animal feed additives market is expected to witness significant growth during the forecast period, owing to surge in consumption of meat products, increase in concerns over meat quality, and rise in safety concerns associated with the outbreak of livestock diseases. Moreover, global industrialization of meat products boosts the market growth. The demand for meat and meat-based products is expected to register a two-fold increase by 2030 in the developing countries. However, increase in prices of raw materials such as maize, wheat, barley, and others and stringent regulatory guidelines for feed additives hamper the market growth.
Global Animal Feed Additives Market Segmentation
The global animal feed additives market is segmented based on additive type, livestock, form, function, and geography. On the basis of additive type, the market is categorized into amino acids, antioxidants, feed enzymes, feed acidifiers, antioxidants, vitamins, minerals, binders, antibiotics, and others. The amino acids segment is further classified into methionine, lysine, threonine, tryptophan, and others. Antioxidants segment is subsegmented into BHA, BHT, ethoxyquin, and others. Feed enzymes is further divided into phytase, non-starch polysaccharides, protease, xylanase, and others. Feed acidifiers is subdivided into formic acid, butyric acid, fumaric acid, acetic acid, and others. Antioxidants is further segmented into BHA, BHT, ethoxyquin, and others. The vitamins segment is subsegmented into water soluble and fat soluble. Minerals are further segmented into zinc sources, iron sources, manganese sources, and copper sources. Binders are further fragmented into calcium lignosulphate, guar (Arabic) gum, and others. The antibiotics segment is subsegmented into tetracycline, penicillin, and others. By livestock, the market is categorized into swine, ruminants, poultry, aquatic animals, and others (equine, pets, and birds). According to form, it is classified into dry, liquid, and others (powder and pellet form). As per function, it is bifurcated into single function and multifunction. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Animal Feed Additives Market Share, by Geography, 2016 (%)
Increase in demand for feed additives in Asia-Pacific and rise in concern for the quality of meat & meat-related products are the major driving factors for the adoption of additives for various livestock, such as poultry, swine, aquatic animals, and cattle. Renowned global market leaders, such as Cargill, Inc., Charoen Pokphand Foods Public Company Limited, Adisseo France SAS, and Alltech, Inc. are adopting various growth strategies to expand their market presence and cater to the growing demands of feed additives.
The market is witnessing significant opportunities owing to surge in demand for processed meat, which increased the consumption of feed additives, thereby boosting the demand for additives in the animal nutrition and feed industry. However, different government regulations towards use of certain synthetic additives and increase in production cost of effective feed additives are restrict the market growth.
Top Investment Pockets
On the basis of additive type, the amino acids and feed acidifiers segments are lucrative sectors for investment in the market, followed by the feed enzymes segment. Key amino acids such as lysine, methionine, tryptophan, and threonine finds major use as animal feed additives. Lysine is used for poultry and swine applications. In addition, industrial lysine has advantage over natural substitutes, mainly soybean. Feed acidifiers segment is witnessing growth on account of the increasing prevalence of nutritional deficiencies along with livestock protection from disease outbreak.
Top Investment Pocket, by Livestock
In 2016, Asia-Pacific dominated the global animal feed additives market, in terms of both value and volume. The region is also expected to witness the highest growth rate from 2017 to 2023, owing to increasing demand for animal products, growing population, rising disposable incomes and an increase in demand for quality meat products. China is a major meat exporter and producer of animal feed additives, supported by strong economic outlook and rapid urbanization.
Germany Animal Feed Additives Market Value, 2016-2023 ($Million)
Key players such as 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 invest in R&D activities to develop advanced products to cater to the requirements of the market.
The other players in the value chain (profiles not included in the report) include Koninklijke DSM N.V., Biotech JSC, Danisco Animal Nutrition, Addcon Group, Biomin, Ajinomoto Co, Inc, Aliphos Belgium S.A., Phibro, and Kemin.
Key Benefits :
- The report provides an extensive analysis of animal feed additives market trends and size from 2016 to 2023 to determine the prevailing opportunities.
- Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
- Extensive analysis is conducted by following product benchmarking, positioning, and monitoring the top competitors within the global market.
- The report provides extensive and qualitative animal feed additives market trends on the significant segments or regions.
- The report provides key insights on strategic industry analysis of various companies and the value chain analysis of animal feed additives.
Animal Feed Additives Market Key Segmentation:
By Additive Type
- Amino Acids
- Feed Enzymes
- Non-starch Polysaccharides
- Feed Acidifiers
- Formic Acid
- Butyric Acid
- Fumaric Acid
- Acetic Acid
- Water Soluble
- Fat Soluble
- Zinc Sources
- Iron Sources
- Manganese Sources
- Copper Sources
- Calcium Lignosulphate
- Guar (Arabic) Gum
- Aquatic Animals
- Others (Equine, Pets, and Birds)
- Others (Power and Pellet Form)
- Single Function
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Latin America
- Middle East