Feed additives are products that improve the quality of animal food to improve the animal’s health and performance and improve the quality of feed. These additives include amino acids, vitamins, fatty acids, minerals, fungal products and steroidal compounds. Prebiotics, acidifiers, essential oils, probiotics are some feed additives that enhance the immune response and promote animal and gut health.
The global feed additives market is expected to grow significantly over the forecast period due to developing concern for the health of pets and rising pet ownership. The increase in consumption of animal-based products, industrialization of the livestock industry, growing awareness among farmers and rising need for dairy products due to health benefits are some key factors expected to continue to fuel market growth going ahead.
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The global feed additives market size is expected to reach USD 60.5 Billion by 2028 and register a CAGR of 6.5%, according to the latest report by Reports and Data. Increasing demand for animal-based products is a key driver supporting market revenue growth.
Feed additives are products that are used in livestock nutrition to enhance feed quality and improve total development and growth of animals. These products help in increasing feed intake and also provide necessary nutrients otherwise lacking in the diet. Rapid increase in cattle farming along with growing awareness about advantages of including additives in animal feed are some significant factors enhancing growth of the feed additives market. Additionally, many key market players are investing in R&D activities to develop more effective feed additives and are focusing on expanding their product lines.
However, ban of usage of antibiotics in animal feed and increase in cost of production due to uncertain raw material costs are some significant factors projected to hamper growth of the global feed additives market between 2021 and 2028.
The major vendors in the global market include Cargill (US), DowDuPont (US), ADM (US), Evonik (Germany), BASF (Germany), DSM (The Netherlands), Solvay (Belgium), Ajinomoto (Japan), Novozymes (Denmark), Chr. Hansen (Denmark), InVivo (France), Nutreco (The Netherlands), Kemin (US), Adisseo (France), and Alltech (US).
Some key highlights from the report:
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For this study, Reports and Data has segmented the global feed additives market based on type, livestock, form source, and region:
Based On Type: (Volume, Kilo Tons; Revenue, USD Billion, 2018 – 2028)
Based On Livestock: (Volume, Kilo Tons; Revenue, USD Billion, 2018 – 2028)
Based On Form (Volume, Kilo Tons; Revenue, USD Billion, 2018 – 2028)
Based On Source: (Volume, Kilo Tons; Revenue, USD Billion, 2018 – 2028)
Based On Region (Volume, Kilo Tons; Revenue, USD Billion, 2018 – 2028)
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