The animal feed additives market totaled US$ 16.36 Bn in 2021, as per a latest market survey by ESOMAR-certified consulting firm Future Market Insights (FMI). Overall animal feed additives demand is anticipated to grow at a steady pace, exhibiting a 2.70% CAGR through 2031.
With an increasing focus on the inclusion of probiotics and proteins in animal feed additives, product innovations in the market are on rise. Efforts to control feedstock contamination are anticipated to result in better product offerings, leading to market expansion at 1.70% by volume.
With the unprecedented outbreak of COVID-19 pandemic, sales of meat, poultry, and fish witnessed a sharp decline in 2020. Disruptions in the supply chain and the global lockdown further stagnated the animal feed additives market growth.
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.
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“Rising meat consumption across the world, coupled with demand for high-quality and nutrient-rich anima-based products, will provide tailwinds to animal feed additives sales growth through 2031,” says the FMI analyst.
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.
Animal Feed Additives Market – Key Growth Factors
- Heightening demand for animal feed additives which are environmentally friendly is contributing significantly to overall revenue.
- Greater emphasis on health and fertility of animals is bolstering market growth.
- Rising expenditure by niche players is accelerating the production of animal feed.
- Growing prevalence of antibiotics is propelling the growth of animal feed additives market.
Explore the full animal feed additives market report with 112 illustrative figures, 128 data tables and table of contents. Request ToC of the study at https://www.futuremarketinsights.com/askus/rep-gb-418
Animal Feed Additives Market – Key Restraints
- Economic and political situations in Asia Pacific are constraining the growth of animal feed additives market.
- Certain apprehensions regarding zootechnical additives is a major factor limiting market growth.
Competitive Landscape
The global animal feed additives market is highly consolidated with the presence of major global and regional players. Amid soaring competition, top 5 players comprising BASF SE, EVONIK INDUSTRIES AG, Cargill, Inc., Koninklijke DSM N.V., and Nutreco N.V. are anticipated to account for approximately 30-40% of the total market share.
As a part of their growth strategies, leading players in the market are emphasizing on strategic partnerships, mergers, and acquisitions to establish a firm foothold in the market. Apart from collaborations, profound emphasis on research and development for better product rollout will help solidify growth prospects during the assessment period. For instance:
- In March 2021, Ajinomoto Co. collaborated with Pegasus Tech Ventures, a global venture capital firm to tap into Silicon Valley-based start-ups in the market to capitalize on emerging trends in the food and healthcare sector. The collaboration will allow the company to expand its geographical footprint across 16 locations around the world.
- In June 2021, Biomin GmBH, a global animal nutrition, and feed additive producer announced its involvement in a four-year-long US$ 11.9 Mn EU-backed research consortium effort to address the challenges in pig and poultry production. The project called 3D’omics is looking to create a new technology to analyze animal microbiota interactions at the microscale by creating 3D visualizations for a better understanding.
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Key Companies Profiled
- Ajinomoto Co., Inc.
- Akzo Nobel N.V.
- Alltech Inc.
- Archer Daniels Midland Company
- BASF SE
- Biomin GmbH
- Cargill Inc.
- Chr.Harsen 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.
- Solvay Group
Animal Feed Additives Market by Category
By Additive Type:
- Antibiotics
- Vitamins
- Antioxidants
- Amino Acids
- Feed Enzymes
- Feed Additives
- Minerals
By Application Type:
- Ruminants
- Poultry
- Swine
- Aquatic
By Source Type:
- Plant
- Animal
- Micro-organisms
By Region:
- North America
- Latin America
- Europe
- Asia Pacific Excluding Japan
- Japan
- Oceania
- MEA
