SAN FRANCISCO, May 25, 2022 /PRNewswire/ -- The global animal feed additives market size is expected to reach USD 53.7 billion by 2030, as per a new report by Grand View Research, Inc. Furthermore, the industry is projected to advance at a CAGR of 3.5% from 2022 to 2030. The growth is majorly driven by the increased consumption of meat and the rise in the livestock population worldwide.
Key Insights & Findings from the report:
- The Asia Pacific region is poised to witness the fastest growth rate of 4.0%, in terms of revenue, from 2022 to 2030. This is attributable to the increase in consumption of meat by the growing regional population and the increase in purchasing power of the people.
- The amino acids product segment is expected to witness a promising growth rate of 4.1%, in terms of revenue, from 2022 to 2030, owing to its increased demand because of its effect on increasing the efficiency and quality of livestock.
- The poultry livestock segment is anticipated to advance at a healthy CAGR of 3.9% in terms of revenue from 2022 to 2030, due to its increase in consumption by the global population.
- The feed acidifiers segment accounted for more than 6% of the revenue share in 2021. Feed acidifiers are of vital importance in the overall feed of animals. They help in improving the level of gastric acids in the animals, to improve their digestion and assimilation of food.
- Antioxidants emerged as one of the most prominent segments in the global market for animal feed additives in 2021. The increasing focus on using organic and natural products was one of the most significant drivers of the demand for natural antioxidants in this market.
Get more Insights from full market research report with TOC, "Animal Feed Additives Market Size, Share & Trends Analysis Report By Product (Antibiotic, Vitamin, Antioxidant), By Livestock (Poultry, Pork, Cattle, Aquaculture), By Region, And Segment Forecasts, 2022 - 2030", published by Grand View Research.
Animal Feed Additives Market Growth & Trends
Animal feed additives are types of supplements added to the feed which enhance the overall health, appearance, and body structure of the livestock. These additives make the livestock more desirable to the consumers and profitable for the cultivators. Generally utilized additives include vitamins, amino acids, enzymes, and antibiotics, among others. These additives are utilized extensively in the feed industry, especially for commercial purposes.
The demand for meat and other animal-based products directly affects the demand for additives. These additives are essential for supporting the global animal-based industries, which include the meat, poultry, milk, and milk products industries, among others. The use of these products in livestock diet is promoted for non-commercial uses, as they improve the overall health of the animals and enhance their growth and development.
Regions such as Europe and North America, where the consumption of meat is very high, serve as potentially major markets. The meat industry is highly dependent on the animal feed additives industry for optimum quality of meat. The growing population around the globe is also projected to surge the demand for meat and animal-based products, which will subsequently boost the market growth.
The recent COVID-19 pandemic adversely affected the market, due to labor shortages and disruptions in the supply chain. Although the market has shown an overall prompt recovery after the pandemic and has exhibited prolific growth in this period, and is anticipated to expand quickly during the forecast years.
Animal Feed Additives Market Segmentation
Grand View Research has segmented the global animal feed additives market on the basis of product, livestock, and region:
Animal Feed Additives Market - Product Outlook (Revenue, USD Million, Volume, Kilotons, 2018 - 2030)
- Antibiotics
- Vitamins
- Vitamin A
- Vitamin E
- Vitamin B
- Vitamin C
- Others
- Antioxidants
- Amino Acids
- Tryptophan
- Lysine
- Methionine
- Threonine
- Others
- Feed Enzymes
- Phytase
- Non-Starch Polysaccharides & Others
- Feed Acidifiers
- Others
Animal Feed Additives Market - Livestock Outlook (Revenue, USD Million, Volume, Kilotons, 2018 - 2030)
- Pork/Swine
- Poultry
- Cattle
- Aquaculture
- Others
Animal Feed Additives Market - Regional Outlook (Revenue, USD Million, Volume, Kilotons, 2018 - 2030)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- Vietnam
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
List of Key Players in the Animal Feed Additives Market
- AFB International
- Alltech
- Kemin Industries, Inc.
- Vitablend Asia Pacific Pte. Ltd.
- Kalsec, Inc.
- DSM
- Ameri-Pac, Inc.
- BASF SE
- Evonik Industries AG
- FoodSafe Technologies
- Lallemand, Inc.
- DuPont
- Nutreco N.V.
- Elanco
- Biomin Holding GmbH
- Adisseo France S.A.S.
- Archer Daniels Midland
- Penny Newman
Check out more related studies published by Grand View Research:
- Aquafeed Additives Market - The global aquafeed additives market size is expected to reach USD 2.76 billion by 2028, according to a new study by Grand View Research, Inc. The market is estimated to reach a CAGR of 3.2% during the forecast years. Increasing consumption of the product for carp, salmon, tilapia, and catfish, due to their rising demand driven by their rich protein content, is anticipated to boost the industry's growth. The high content of omega-3 fatty acids in carp and its ability to reduce cholesterol levels have augmented their demand, which, in turn, is projected to propel the product demand over the forecast period.
- Pet Food Market - The global pet food market size is expected to reach USD 139.29 billion by 2030, registering a CAGR of 4.4%, as per a new report by Grand View Research Inc. Packaged pet food provides standard nutritional value required in pet's daily life. This is projected to drive market growth over the forecast period.
- Animal Feed Antioxidants Market - The global animal feed antioxidants market is expected to reach USD 256.9 Million by 2022, according to a new report by Grand View Research, Inc. Increasing importance of animal protein over plant-based counterparts is expected to play a crucial role in driving market growth.
Browse through Grand View Research's Animal Feed and Feed Additives Industry Research Reports.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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