Animal Feeds Additives Marke size
The Animal Feeds Additives Market estimated a figure up to USD 37.58 Bn in 2022 & strengthening the market value to USD 53.7 Bn by 2032, at a CAGR of 4.6%.
NEW YORK, NEW YORK CITY, UNITED STATES, October 26, 2022 /EINPresswire.com/ — The Animal Feeds Additives Market estimated a figure up to USD 37.58 Bn in 2022 & strengthening the market value to USD 53.7 Bn by 2032, at an Annual Compound Growth of 4.6%.
This is due to increased meat consumption and animal-based products, an increasing global population, and livestock population.
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Because they are essential components of raising livestock, animal feed additives can help prevent disease, increase weight gain, feed digestion, vitamin intake, conversion, and improve the quality of the meat. They are used extensively worldwide as they are essential for maintaining the health of livestock on both a commercial and non-commercial scale.
The U.S. has an increasing meat-consuming population. This is one of the major factors responsible for the country’s rise in animal feed additives consumption. The U.S. has strict standards and rules for meat production. This directly impacts the global market. The industry of animal feed additives is well-established. It operates within strict regulations set by authorities to maintain international standards. It complements the meat and animal feed markets and is greatly affected by changes.
Europe is the largest meat consumer and a significant consumer of animal feed additives. The Asia Pacific has the fastest population growth and the highest consumption. Market growth is expected to be driven by the accumulating demand for meat from rising consumption and rising purchasing power.
Driving Factors
Animal feed additives demand is increasing. This is due to the increase in global poultry and meat consumption. Improvements in animal feed can reduce the risk of disease and help improve digestion. Feed additives play a critical role in protecting raw livestock’s health and quality. As such, it is crucial that manufacturers ensure the welfare and availability of feed additives to meet the growing demand for nutritional foods. The adoption of feed additives is likely to increase over the next few years. These developments will likely positively affect the global market for animal feed additives. These additives can help increase the nutritional quality of meat and other products to meet the increasing demand for high-quality, nutritious feed. It is important to have additives that improve health and performance. The recent outbreak of a disease that has affected meat consumption will result in an increase in the demand for additives in poultry, water, and other animal products. A balanced diet with enough additives can result in better digestion and reproduction for livestock. These additives can have a positive effect on human food’s properties. In the forecast period, there will be significant increases in livestock production, resulting in an increase in demand for feed additives. These factors are also expected to restrain the market growth during the forecast period. The industry’s growth will also be aided by rising meat consumption and changes in consumer behavior toward a high-protein diet.
The increase in concerns regarding the safety and high quality of animal products and meat will increase the global market for animal feed additives. World dairy products are mostly derived from cows. Additionally, demand has been positively affected because of the new emergence of several diseases as well as the benefits of additives. Due to rapidly rising energy costs, increased meat consumption has increased the demand for various processed products like poultry and dairy. In recent years, poor-quality feed products and a changing climate have been linked to many animal diseases. This has resulted in a rise in demand for high-quality food additives. Industrial growth will come from the continued improvement of finished products and new technologies. Product demand will grow due to higher life expectancy, low water availability, optimal feed utilization, and increased product life span.
Restraining Factors
Because feed additives are sold by contract, volatility in raw material supply and price instability is a concern for manufacturers. These contracts are subject to unsystematic risks such as climate change and interest rate volatility. These factors could hinder the growth of the animal feed additives industry. Market participants in the global feed additives market will face major challenges in the future due to high product and raw materials costs. Market limitations include a variety of regulatory structures, unstable economies, and higher operating
expenses. Rising feed additive raw material costs are another challenge in the global market. Another factor that could hinder the growth of animal feed additives global market is strict government regulations.
Recent development
Ajinomoto Co. partnered with Pegasus Ventures, a global venture fund, in March 2021 to tap into Silicon Valley-based start-ups to capitalize on the emerging trends in healthcare and food. This collaboration will enable the company to expand its geographic footprint to 16 different locations around the globe.
Biomin GmBH, a global producer of animal nutrition and feed additives, announced in June 2021 that it was participating in an US$ 11.9Mn EU-funded research consortium effort to address the problems in poultry and pig production. 3D’omics is a project that aims to develop new technology for microbiota analysis at the microscale through 3D visualizations to improve understanding.
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Key Market Segments:
Type
Minerals
Amino Acids
Vitamins
Enzymes
Application
Poultry Feeds
Ruminant Feeds
Pig Feeds
Aquaculture Feeds
Key Market Players included in the report:
Evonik
DuPont
DSM
Adisseo
BASF
ADM
Nutreco
Novusint
Charoen Pokphand Group
Cargill
Sumitomo Chemical
Kemin Industries
Biomin
Alltech
Addcon
Bio Agri Mix
Frequently Asked Questions (FAQ):
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