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The revenue of the Animal Feed Additives Market is expected to grow at 5.5% CAGR through 2023 to 2029, boosted by growing meat consumption, health concerns and recent disease outbreaks, a new report has concluded.
The report called Animal Feed Additives Market – Industry Analysis and Forecast (2023-2029) and published by Maximize Market Research revealed that the market was expected to reach nearly $26.48bn in 2029 - up from $18.20bn in 2022.
It said that while animal feed additives play a “vital role” in enhancing animal performance and health, such as improving digestion and reproduction, they also indirectly influence the quality of human food products.
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The research predicted that the use of additives, such as amino acids, enzymes and acidifiers which help with the growth and development of farm animals, will increase as demand for livestock-based products for human consumption such as dairy and dairy-based products, meat, and eggs rise.
Increased demand for poultry feed additives has resulted from growing concerns about animal health and consumer demands for a specific hue of yolk and meat
But the largest and fastest-growing sector in the feed additives market will be in poultry. This will be driven by “great demand, cheap production costs, and reduced product pricing” of poultry meat and the “rapid pace” of growth in worldwide chicken meat production.
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“Increased demand for poultry feed additives has resulted from growing concerns about animal health and consumer demands for a specific hue of yolk and meat, ” it said.
“As a result of the rise in diseases such as avian flu, stricter laws and standards have been implemented, driving greater demand for specialised chemicals.”
In particular, the report said probiotics or direct-fed microbial, are “rapidly gaining popularity” especially with the concerns around the use of antibiotics in animal feed. It highlighted the example of the European Union which has already prohibited the use of antibiotics in animal feed in response to these concerns.
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However, while the use of feed additives is expected to increase in response to rising demand, the market may face challenges due to production costs and price fluctuations of additives, the report added.
The Asia Pacific is estimated to hold the largest share in the global animal feed additives market owing to growing consumption of animal products in the region.
It said China is expected to reach a market size of $4.4bn in 2029, with a compound annual growth rate of 6.2%.
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It forecasts Japan and Canada growth rates of 3.4% and 4.2%, respectively. North America is estimated to generate the highest CAGR, with the market for expected to reach $2.8bn by 2023. In the global market, the country currently holds a 20.43% stake.
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Angel Yeast Culture, a natural and effective nutritional supplement, is the solution you need. Our yeast culture, enriched with amino acids, vitamins, ...Animal Feed Additives Market by Additive Type (Amino Acids, Antioxidants, Feed Enzymes, Feed Acidifiers, Vitamins, Minerals, Binders, Antibiotics, and Others), Livestock (Swine, Ruminants, Poultry, Aquatic Animals, and Others), Form (Dry, Liquid, and Others), and Function (Single Function and Multifunction): Global Opportunity Analysis and Industry Forecast, 2018 - 2025 Update Available On-Demand
The global animal feed additives market was valued at $19, 642 million in 2017, and is estimated to reach $31, 387 million by 2025, registering a CAGR of 6.0% from 2018 to 2025. Feed additives form an important part of animal nutrition, which improve the feed quality, yield & quality of food from animal origin, and animal health.
The global animal feed additives market is expected to witness significant growth during the forecast period, owing to surge in consumption of meat products, increase in concerns over meat quality, and rise in safety concerns associated with the outbreak of livestock diseases. Moreover, global industrialization of meat products boosts the market growth. The demand for meat and meat-based products is expected to register a two-fold increase by 2030 in the developing countries. However, increase in prices of raw materials such as maize, wheat, barley, and others and stringent regulatory guidelines for feed additives hamper the market growth.
Animal Feed Additives Market By Additive Type, Livestock, Form, And Function: Global Opportunity Analysis And Industry Forecast, 2018
Animal gut health is augmenting the growth of the global animal feed additives market. In addition, the rise in meat consumption in Asia-Pacific regions is anticipated to boost the sales of amino acids, which eventually drivers the animal feed additives market. Methionine, lysine, and threonine are the most important amino acids that are included in the animal feed for better nutrition. It is expected that amino acids will become even more important to ensure that animal production systems are environmentally compatible, animal production does not waste essential feed resources required by the human population, and the optimum use is made of the potential of breed improvement.
Lipid oxidation in poultry production affects both animals themselves and feedstuffs consumed by them. Oxidation affects the shelf life and quality of animal products for human consumption. Antioxidants can be added to the feed to revert the deleterious effects of lipid oxidation on all these stages, based on the efficiency of each type of antioxidant and the interactions with the remaining components of the animal’s antioxidative protection system. Furthermore, it helps in increasing the size and weight of the broilers and protects chickens against encephalomalacia (softening or loss of brain tissue).
The global animal feed additives market is segmented based on additive type, livestock, form, function, and region. Based on additive type, the market is categorized into amino acids, antioxidants, feed enzymes, feed acidifiers, vitamins, minerals, binders, antibiotics, and others. The amino acids segment is further classified into methionine, lysine, threonine, tryptophan, and others. Antioxidants segment is sub segmented into BHA, BHT, ethoxyquin, and others. Feed enzymes is further divided into phytase, non-starch polysaccharides, protease, xylanase, and others. Feed acidifiers is subdivided into formic acid, butyric acid, fumaric acid, acetic acid, and others. The vitamins segment is sub segmented into water soluble and fat soluble. Minerals are further segmented into zinc sources, iron sources, manganese sources, and copper sources. Binders are further fragmented into calcium lignosulphate, guar (Arabic) gum, and others. The antibiotics segment is sub segmented into tetracycline, penicillin, and others. Based on livestock, the market is categorized into swine, ruminants, poultry, aquatic animals, and others (equine, pets, and birds). According to form, it is classified into dry, liquid, and others. As per function, it is bifurcated into single function and multifunction. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
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Increase in demand for feed additives in Asia-Pacific and rise in concern for the quality of meat & meat-related products majorly drive for the adoption of additives for various livestock, such as poultry, swine, aquatic animals, and cattle. Renowned global market leaders, such as Cargill, Inc., Archer Daniels Midland Company , and Addcon Group adopt various growth strategies to expand their market presence and cater to the growth in demands of feed additives.
The market is witnessing significant opportunities owing to surge in demand for processed meat, which increased the consumption of feed additives, thereby boosting the demand for additives in the animal nutrition and feed industry. However, different government regulations toward use of certain synthetic additives and increase in production cost of effective feed additives restrict the market growth.
In 2017, Asia-Pacific dominated the global animal feed additives market, in terms of both value and volume. The region is also expected to witness the highest growth rate from 2018 to 2025, owing to increase in demand for animal products, growth in population, rise in disposable incomes, and an increase in demand for quality meat products. China is a major meat exporter and producer of animal feed additives, supported by strong economic outlook and rapid urbanization.
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The key leading players operating in the global animal feed additives industry include BASF SE, Cargill, Inc., Archer Daniels Midland Company, Evonik Industries AG, Nutreco N.V., Addcon Group, Aliphos Belgium S.A., Kemin Industries Inc., Koninklijke DSM N.V., and Phibro Animal Health Corporation.
The other players in the value chain (profiles not included in the report) include Biotech JSC, Danisco Animal Nutrition, Biomin, Ajinomoto Co., Inc., Alltech, Inc., and Adisseo France SAS.
ALIPHOS BELGIUM SA, KEMIN INDUSTRIES INC., ARCHER-DANIELS-MIDLAND COMPANY, PHIBRO ANIMAL HEALTH CORPORATION, EVONIK INDUSTRIES AG, ADDCON GROUP GMBH, CARGILL INCORPORATED, KONINKLIJKE DSM N.V. (ALAND (JIANGSU) NUTRACEUTICAL CO. LTD.), BASF SE, SHV HOLDINGS N.V. (NUTRECO N.V.)
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Feed additives are food supplements for farm animals. These include vitamins, amino acids, fatty acids, and minerals. Increase in awareness of health results in demand for quality meat. Recent outbreaks of various animal-borne diseases such as mad cow disease, monkey pox, Lyme disease, and chronic wasting disease (CWD) creates awareness, especially among the consumers in the developed regions regarding the quality of feed given to animals.
According to a study conducted by the World Bank, the demand for industrialized meat production is expected to rise six times faster than the traditional meat production methods. Industrialization of meat production has promoted the concept of landless meat
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