The feed additives are the products that are mixed in the animal food to provide nutrients and other essential supplements for the healthy growth and development. These animal feeds with additives also improve immunity of the livestock. There is high scope for the Animal Feed Additives Market in various regions across the globe during 2014-2021.
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Scope and Regional Forecast of the Animal Feed Additives Market:
The Animal Feed Additives Market was around $18.0 billion in 2014 and it is expected to grow to generate revenue of $27.9 billion by 2021. It is poised to grow at a CAGR of 6.5% during 2015-2021.
Increasing meat consumption, growing awareness about meat and dairy products and healthy of livestock and industrialization of animal obtained products are the major driving factors of the Animal Feed Additives Market during 2014-2021.
In the Animal Feed Additives Market, poultry feed additives was the leading revenue generating segment in 2014 followed by swine and cattle. Asia Pacific is high potential region with demanding countries such as China and India, which are growing rapidly through 2021.
The Animal Feed Additives Market is a fast growing market with high utilization of cattle feed ingredients and feed additives for poultry for animals and poultry stock in farms in various regions across the globe. This market is expected to witness high growth owing to the increasing production of animal feed supplement by additives manufacturers, rise in sales of poultry feed ingredients and cattle feed supplements and high R&D expenditure on feed additives for healthy pets and livestock in various regions across the globe during 2014-2021.
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Segmentation and Key Players of the Animal Feed Additives Market:
The Animal Feed Additives Market is segmented into various categories by type, by livestock and by geography as follows:
By type: Animal Feed Additives, Amino Acids, Feed Enzymes, Vitamins, Minerals, Feed Antioxidants, Feed Acidifiers and Binders
By livestock: Swine, Poultry, Cattle, Aquatic animals and others
By geography: North America, Europe, Asia Pacific and LAMEA (Latin America, Middle East and Africa)
The key players in the Animal Feed Additives Market are as follows:
- BASF SE
- Evonik Industries AG
- Cargill Incorporated
- Chr. Hansen Holding A/S
- Archer Daniels Midland Company
High production of animal nutrition is anticipated for cattle feed and poultry feed products in various regions across the globe during 2014-2021.
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