Growing Feed Production Escalates Animal Feed Additives Market Growth
According to our latest market study on “Animal Feed Additives Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Amino Acids, Vitamins, Carotenoids, Enzymes, Prebiotics And Probiotics, Minerals, Acidifiers, Lipids, And Others) and Livestock (Poultry, Ruminants, Swine, Aquaculture, and Others) and Geography,” the market was valued at US$ 34,583.5 million in 2021 and is projected to reach US$ 49,874.8 million by 2028; it is expected to register a CAGR of 5.4% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players, along with their developments in the market.
Animal feed additives are the feed blends that ensure total nutrition for animals. Moreover, feed additives are medicinal and nutritional supplements added to the animal feed to prevent health issues. The health issues may range from nutritional deficiencies, reproduction-related concerns, or metabolic problems among others. Adding feed additives minimizes the risk of infection, thereby enhancing the overall quality of products derived from animals.
The growing population has led to increased use of livestock and related products that positively affect the animal feed additives market. The increased livestock production has led livestock producers to demand more animal feed with a variety of additives with respect to the particular livestock type. For instance, feed additives are used in poultry feed to promote animals' growth, yielding a better feed conversion ratio. The addition of additives has been highly beneficial in maintaining the health of animals and reducing costs in livestock production. Therefore, the demand for additives has been rising due to the increased utilization of additives for varied purposes.
A few major key players operating in the global animal feed additives market are Cargill, Incorporated; ADM; Evonik Industries AG; Land O’Lakes, Inc.; Nutreco N.V; Alltech; DuPont de Nemours, Inc.; DSM; Novozymes; and Kemin Industries Inc.
Impact of COVID-19 Pandemic on Animal Feed Additives Market
Feed manufacturers rely on additives to ensure maximum nutrition for animals for better immunity. Moreover, consumers worldwide have started focusing on healthy diets with large protein intake to strengthen immunity, which led to increased consumption of meat products and a surge in livestock production. The effect of COVID-19 is expected to be beneficial over the forecast period as the surge in livestock production is eventually expected to benefit the animal feed additives market.
Global Animal Feed Additives Market Breakdown – by Region
Animal Feed Additives Market Size Report | Forecast & Growth by 2028
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Animal Feed Additives Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Amino Acids, Vitamins, Carotenoids, Enzymes, Prebiotics And Probiotics, Minerals, Acidifiers, Lipids, And Others) and Livestock (Poultry, Ruminants, Swine, Aquaculture, and Others)
Animal Feed Additives Market Size Report | Forecast & Growth by 2028
Download Free SampleAnimal Feed Additives Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Amino Acids, Vitamins, Carotenoids, Enzymes, Prebiotics And Probiotics, Minerals, Acidifiers, Lipids, And Others) and Livestock (Poultry, Ruminants, Swine, Aquaculture, and Others)
The report includes the segmentation of the global animal feed additives market as follows:
By type, the animal feed additives market is segmented into amino acids, vitamins, carotenoids, enzymes, prebiotics and probiotics, minerals, acidifiers, lipids, and others. By livestock, the animal feed additives market is segmented into poultry, ruminants, swine, aquaculture, and others. Geographically, the market is broadly segmented into North America (the US, Canada, and Mexico), Europe (Germany, France, the UK, Italy, Russia, and the Rest of Europe), Asia Pacific (China, India, Japan, Australia, South Korea, and the Rest of Asia Pacific), Middle East & Africa (South Africa, Saudi Arabia, the UAE, and the Rest of MEA), and South and Central America (Brazil, Argentina, and the Rest of South and Central America).
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