Newark, NJ, June 23, 2020 (GLOBE NEWSWIRE) — As per the report published by Fior Markets, the global animal feed additives market is expected to grow from USD 35.01 billion in 2019 to USD 56.22 billion by 2027, at a CAGR of 6.1% during the forecast period 2020-2027.
The positive impact observed through the use of feed additives in the animals has increased the growth momentum of the global animal feed additives across the globe. Concern rising on the excellent quality of the meat due to rising outbreak of various animal diseases have led the livestock farmers to focus on the quality of the livestock health.
Animal feed additives refer to the product that is nutritive, which gives animal as a supplement for the purpose of improving the quality of the animal feed. Animals need to consume the nutritious feed to maintain good health and to achieve good products from the animals. Animals feed only consisting of maize, soybean, and other feeds do not contain the appropriate amount of nutrition which affects the animal’s health. Feed additives can supplement nutrition to the animals and can improve the quality of livestock.
Global animal feed additives market is increasing rapidly, owing to raising awareness about the animal feed quality among the livestock farmers. In addition to this, rising consumer demand for good quality meat, further driving the growth of the market. Furthermore, increasing government slandered for the quality meat and poultry products, propelled the growth of the animal feed additives market. Increasing shift towards the natural growth promoters is anticipated to offer growth opportunities in the market. On the other hand, volatile raw material prices which are required to manufacture the feed additives could hamper the growth of the market over the forecast period.
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Key players operating in the global animal feed additives market include Cargill, Inc., BASF SE, Evonik Industries AG, Addcon Group, Koninklijke DSM N.V., Archer Daniels Midland Company, Kemin Industries Inc., Aliphos Belgium S.A., Phibro Animal Health Corporation, Nutreco N.V., Danisco Animal Nutrition, Ajinomoto Co., Biotech JSC, Alltech, Adisseo France SAS and Biomin among others. To gain the significant market share in the global animal feed additives market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint venture, collaborations, and partnership.
- For instance, in February 2020, Cargill announced that its company Diamond V expanded the expanded the animal nutrition plant worth of USD 29 million in the Linn County of U.S. to meet the increasing demand for animal health products.
- In December 2018, DSM announced the launch of new animal feed additives for the called Crina Digest, for the poultry to aid digestive function.
The amino acids segment held the largest market share of 35.25% in the year 2019
On the basis of type, the global animal feed additives market is classified into antibiotics, minerals, binders, vitamins, feed enzymes, feed acidifiers, antioxidants, and amino acids. The amino acids segment held the largest market share of 35.25% in the year 2019. Amino acids helps to improve the metabolism, fertility, and overall health of the animals. The amino acids are primarily useful for the swine and poultry animals.
The poultry segment dominated the global animal feed additives market and valued at USD 14.22 billion in the year 2019
Livestock segment divided into aquatic animals, ruminants, poultry, and swine. The poultry segment dominated the global animal feed additives market and valued at USD 14.22 billion in the year 2019. Increasing demand for high-quality meat driving the demand for animal feed additives for the poultry.
The dry segment is anticipated to grow at the highest CAGR of 7.1% over the forecast period
The form segment includes liquid and dry. The dry segment is anticipated to grow at the highest CAGR of 7.1% over the forecast period. The dry form of feed additives has high demand among the livestock owners as they are easy to store and easy to mix well with the feed.
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Regional Segment Analysis of the Animal Feed Additives Market
- North America (U.S., Canada, Mexico)
- Europe (Germany, France, U.K., Italy, Spain, Rest of the Europe)
- Asia-Pacific (China, Japan India, Rest of APAC)
- South America (Brazil and Rest of South America)
- Middle East and Africa (UAE, South Africa, Rest of MEA)
On the basis of geography, the global animal feed additives market classified into North America, Europe, South America, Asia Pacific, and Middle East and Africa. The Asia Pacific region dominated the global animal feed additives market and held the major market share of 38.59% in the year 2019. This is mainly due to the presence of large livestock population across the Asia Pacific region. China is one of the largest meat producer countries in the region. In addition to this, increasing awareness about the animal feed additives among the livestock owner in India, further driving the growth of the market in the region. Moreover, increasing shift towards meat production in other countries such as Indonesia and Thailand, fuelling the growth of the market in the Asia Pacific region. On the other hand, North America region held the second largest market share in the global animal feed additives market. Rising stringent government regulations about the meat quality are one of the key factors driving the growth of the market in the North America region. In addition to this, the presence of key market players across the region, further propelling the animal feed additives market in the North America region.
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About the report:
The global animal feed additives market is analysed on the basis of value (USD Billion), volume (K Tons), export (K Tons), and import (K Tons). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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