As per ESOMAR-certified consulting firm Future Market Insights (FMI), the animal feed additives market reached US$ 16,364.1 Mn in 2021. With increasing adoption of protein-based animal feed additives, the market is poised to expand at a steady 2.70% CAGR between 2021-2031.
The increasing demand for high-quality and nutritious animal products such as eggs, meat, and milk have underscored the need for a balanced diet in livestock. Driven by this, farmers are heavily investing in animal feed additives to suffice the dietary requirements in livestock, thereby promoting sales in the market.
Moreover, the ever-increasing meat consumption in various countries is generating demand for animal feed additives in animal husbandry and pisciculture.
To promote better health and productivity in animals, governments in various countries have banned the use of antibiotics in animal feed, which is increasing the adoption of plant-based animal feed additives in the market.
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Stringent regulations regarding product labeling are encouraging producers to improve ingredient selection and enhance research and development for launching better products in the market. Increasing awareness regarding a balanced diet in the livestock industry will remain a major factor driving sales in the market.
As per FMI’s regional analysis, the U.S. will dominate the animal feed additives market, owing to the presence of well-established agriculture and livestock industry. Apart from this, the growing population and meat consumption in the country is anticipated to shoulder market growth in the near future.
Key Takeaways from Animal Feed Additives Market Analysis
- Amino acids will emerge as the most preferred product type, owing to their health benefits including improved digestion and gut health.
- Animal feed additives will be widely adopted in the poultry sector, due to growing demand for eggs and chicken in several countries.
- Sales of plant-based animal feed additives will gain traction for improving the texture, taste, and odor of animal feed.
- The U.S. is anticipated to witness high demand for animal feed additives due to expansions in the agriculture and livestock industry.
- China will exhibit lucrative growth patterns, owing to increasing meat production and consumption in the country.
- Prevalence of regional and global market players will shape the sales outlook of animal feed additives in Germany.
- Growing population and shifting consumer preference towards protein-rich diet will foster sales of animal feed additives in India.
- Japan and South Korea will collectively account for 13% of the total market share.
Competitive Landscape
Ajinomoto Co., Inc., Akzo Nobel N.V., Alltech Inc., Archer Daniels Midland Company, BASF SE, Biomin GmbH, Cargill Inc., Chr. Hansen Holding A/S, CP Group, E. I. du Pont de Nemours and Company, Evonik Industries AG, Invivo Group, Koninklijke DSM N.V., Kemin Industries, Lallemand Inc., Norel S.A., Novozymes A/S, Nutreco, Phibro Animal Health Corporation, Novus International Inc., Tyson Foods, Inc., and Solvay Group are among the leading players operating in the animal feed additives market.
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