Feed additives are non-nutritive substances that are added into animal feed to improve growth performance. These are specialty ingredients that provide nutritional value and preserve the feed from deteriorating too rapidly while adding a nutritious dimension for livestock including pigs, cattle, fish, and poultry. Feed additives provide essential nutrients in the concentrated form to enhance the nutritional level of the feed and lead to eco-friendly livestock production.
According to the report, the Feed Additives Market is projected to increase at a CAGR of 4.53% over the forecast period 2018-2024.
Growing global consumption of meat is the major driver of global feed additives market. According to the FAO, global meat consumption is projected to increase from 41.3kg per capita in 2015 to 45.3kg per capita in 2030. Rapid shift towards protein-rich diet is encouraging people to consume animal products including eggs, meat, fish, and pork. Growing concerns regarding environmental sustainability issues is another major driver of growing global feed additives market. According to the data provided by the United Nations, livestock generate 14. 5 per cent of global greenhouse gas emissions. The use of feed additives results in feed efficiency and thus, on animal as well as environmental performance.
Global warming has led to a rise of new animal diseases which is further boosting the demand for efficient feed additives in order to maintain proper health of livestock species. High livestock trade and animal movements during festive periods are commonly associated with the increased probability of disease spread (such as H5N1 HPAI) in countries like China and Vietnam. However, stringent government regulations regarding the use of certain feed additives is currently restraining the growth of global feed additives market. For example, the use of antibiotics in animal feed is completely banned in the U.S. and Europe. Another factor that is expected to hamper the growth of feed additives market during the forecast period is the emerging popularity of vegan diet and other protein-rich food items including plant based protein and insect protein.
Geographically, the market is segmented as North America, South America, Europe, Middle East and Africa, and Asia Pacific. APAC is projected to witness a significant CAGR during the forecast period owing to the rapid rise in the livestock production in countries like China and India. Growing adoption of innovative agricultural and animal husbandry practices in APAC countries further contributes to the growth of feed additives market in APAC.
Some of the major players covered as part of the report are Cargill Incorporated, BASF SE, Novozymes, Adisseo France SAS, Nutreco, Chr. Hansen, Evonik Industries, Archer Daniels Midland Company, ALltech Inc., and DSM among others.
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This report segmented the Feed Additives market on the basis following terms
By Product Type
- Vitamin A
- Vitamin E
- Vitamin B
- Vitamin C
- Vitamin D
- L-Lysine HCL
- United Kingdom
Middle East and Africa
- Saudi Arabia
- South Korea
- North America