Report : Europe Animal Feed Additives Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Vitamins, Amino Acids, Carotenoids, Enzymes, Prebiotics & Probiotics, Minerals, Acidifiers, Lipids, and Others) ,Livestock (Poultry, Ruminants, Swine, Aquaculture, and Others)
According to The Insight Partners market research study on “Europe Animal Feed Additives Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Livestock and Country” is expected to reach US$ 10,827.83 million, by 2028 from US$ 7,727.66 million in 2021. The market is estimated to grow at a CAGR of 4.9% from 2021 to 2028. The report provides trends prevailing in the Europe animal feed additives market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to increase use of additives in animal feed, and the high demand for livestock products are the key factors driving the market growth. However, the market is expected to experience slow growth during the forecast period owing to demand for animal feed additives, such as antibiotics.
In Europe, The market for animal feed in the region has been negatively impacted due to COVID-19 restrictions. According to the European Compound Feed Manufacturers' Federation (FEFAC), EU animal feed production fell 1.0% in 2020 because the pandemic affected consumer demand for products of animal origin. Moreover, the avian influenza outbreaks in several parts of Europe added difficulties to the poultry sector which in turn also affected the animal feed additives market growth. However, chicken meat has begun gaining preference among consumers with the ease of restrictions in response to the improving situation of the ongoing pandemic. This is likely to gradually drive the growth of the animal feed industry in the coming years, which will subsequently offer growth opportunities for the animal feed additives market in terms of value sales.
The market for Europe Animal Feed Additives Market is segmented into the product type, livestock and country. Based on product type, the Europe Animal Feed Additives Market is segmented into vitamins, amino acids, carotenoids, enzymes, prebiotics & probiotics, minerals, acidifiers, lipids, and others. In 2021, the amino acids segment accounted for the largest market share. Amino acid segment is dominant because amino acids are building blocks of polypeptides and proteins that are a primary component in animals’ tissues and muscles. They play an important role in metabolic and biochemical processes of an animal which in turn has propelled the demand for amino acids from the animal feed industry. However the aquaculture systems segment is estimated to register the highest CAGR during the forecast period.
Cargill, Incorporated , Archer-Daniels-Midland Company , Evonik Industries AG , Nutreco N.V , Alltech , DuPont de Nemours, Inc., DSM , Novozymes ,Kemin Industries Inc. Among the leading companies in the Europe animal feed additives market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for Europe animal feed additives market is segmented into product type, livestock. Based on product type, the Europe animal feed additives market is segmented into vitamins, amino acids, carotenoids, enzymes, prebiotics & probiotics, minerals, acidifiers, lipids, and others. Based on end user, the Europe animal feed additives market is segmented into poultry, ruminants, swine, aquaculture, and others. By Geographically, Europe animal feed additives market is segmented into (Germany, France, UK, Italy, Russia,and and Rest of Europe)
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