As per a report by Grand View Research Inc., the global animal feed additives market is projected to rise to a valuation of USD 23.81 billion by 2025. Consumption of food items containing an appropriate quantity of accompaniments has significant health benefits. Animal feed additives help in boosting immunity and vitamin intake in animals, enhancing their rate of weight gain, and improving digestion and conversion. Owing to these benefits, inclusion of additives in the feed is poised to increase in future. Moreover, rising consumer awareness regarding the impact of livestock feed on animal-based products is likely to drive the market.
The market stood at 256.8 kilotons in 2015. Spiraling demand for meat and dairy products is anticipated to be one of the key growth stimulants of the market. Ban on antibiotics in Europe and U.S. is expected to fuel the demand for alternatives such as amino acids, feed acidifiers, and enzymes, which in turn will propel the market.
In recent times, increase in the number of disease outbreaks in livestock animals, including swine flu, bird flu, and foot and mouth disease, has raised concerns regarding the safety and quality of meat and meat products. With recent epidemic outbreaks, meat quality has become amajorconcern in Europe and North America. This has escalated the use of specialty additives, thereby providing a fillip to the overall market.
Full Research Report On Animal Feed Additives Market Analysis:
U.S. animal feed additives market volume by product, 2014 – 2025 (Tons)
Increasing implementation of innovative practices in animal husbandry to improve quality of meat is estimated to stoke the growth of the market. Surging demand for grain for food production and limited availability of land and water resources for animal fodder production are prompting players in the meat industry to optimize feed uptake. This, in turn, is expected to boost their dependence on innovative practices.
On the flip side, spiraling demand for grains such as wheat, barley, and maize from biofuel and other commercial applications is anticipated to hamper growth prospects. Moreover, volatile prices of raw materials required for producing animal feed additives can inhibit the upward climb of the market. The growth of the market is also hindered by stringent regulatory framework.
Nevertheless, introduction of novel technologies for the production of feed additives and changing regulatory trends are likely to shape the future of the market. For instance, development of VSTAR technology by MiXscience, which ensures effective use of additives to enhance farms’ technical and economic performance. The technology works by associating an active component with a vector to control its distribution to a target audience.
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The global animal feed additives market has been segmented on the basis ofproduct, livestock, and geography. Based on product, the market has been divided into vitamins, antibiotics, amino acids, antioxidants, feed acidifiers, feed enzymes, and others. Amino acids dominated the market in 2015, representing 30% of the overall revenue. In terms of livestock, the market has been classified into poultry, pork/swine, aquaculture, cattle, and others. Poultry will continue to be the leading segment until 2025, generating a revenue of USD 5.7 billion by the end of 2025.
Geographically, the market has been fragmented into Europe, Asia Pacific, North America, Middle East and Africa, and Central and South America. Asia Pacific was at the forefront of the market in 2015, holding one third of the overall revenue. Growing population and improving economic conditions are contributing to the growth of the region. Changing lifestyles and rising disposable income of the populace are creating an upsurge in the demand for meat and dairy products. China is the leading producer and consumer of meat in the world, which can provide a significant push to the market in the region.
Mergers and acquisitions are among the key growth strategies adopted by a majority of players to stay ahead in the market. For instance, in October 2017, Cargill signed an agreement to acquire Diamond V to continue strengthening its position in the animal nutrition business. Besides this, key players will pay high attention to product customization to enhance their visibility in the market. Some of the prominent companies operating in the market are DSM, BASF, Cargill, Evonik, and Danisco (DuPont).
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