The Global Animal Feed Additives market is projected to cross USD 37 billion by early 2022 from USD 28.6 billion in 2016, growing at a CAGR of over 5.3% over the forecast period.
Feed additives are essential in animal nutrition, as they improve the quality of feed, and thereby improve animals' performance and health. They also subsequently improve the yield and quality of food from animal origin. Changing demographics in Asia-Pacific, such as swelling urban populace, increasing income, rising trend of double income families, and busy lifestyles among others have led to the growing consumption of convenience food. These factors, along with the rising health awareness in this region, have resulted in a surge in demand for plant and animal protein. The rise in the application of animal protein in this region has exerted pressure on livestock farmers, who are gradually shifting to various scientific methods of farming. It is observed that it is quite tough for the farmers in this region to supply meat at the same pace as of demand. This situation has generated an opportunity for compound feed and feed additive manufacturers.
Industrialisation of the livestock and meat industry is another demand driving factor of the market. The animals are raised under control conditions and are supplied with essential nutrients via compound feed and feed additives. The industrial production of meat is replacing traditional methods of farming all over the globe, and this shift is expected to draw parallel growth in the feed additives industry. Various stringent regulations in this industry, especially in the EU, have restricted the growth of this market. Other restricting factors are price volatility and unsteady supply of raw materials.
- Adisseo France SAS
- BASF SE
- Danisco Animal Nutrition
- Alltech Inc.
- Archer Daniels Midland Company
- Bio Vet JSC
- Cargill Inc.
- CHR. Hansen
- DSM NV
- Elanco Animal Health Inc.
- Evoni Industries
- Invivo NSA
- Kemin Industries
Key Topics Covered:
2. Research in Methodology
3. Executive Summary
4. Porters Five Force Analysis
5. Market Dynamics
6. Global Feed Additives Market, By Type
7. Global Feed Additives Market, By Geography
8. Competitive Landscape
9. Company Profiles
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Related Topics: Animal Feedstuffs