The global Feed Additives Market was estimated to be valued at USD 38.1 billion in 2021 and is projected to reach USD 49.6 billion by 2026, recording a CAGR of 5.5%, in terms of value. The growth in consumption of animal-based products, growth in feed production, standardization of meat products owing to disease outbreaks, and implementation of innovative animal husbandry practices to improve meat quality have led to the increased consumption of feed additives. The Asia Pacific region will dominate the global market due the presence of a large livestock population and their growth rate. Furthermore, the region has witnessed an increase in the number of feed mills and feed production, particularly in countries such as India and Japan.
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By type, the preservatives segment is projected to grow with the highest CAGR in the global market during the forecast period
The feed preservatives are expected to grow at the highest CAGR over the forecast period. The demand for feed preservatives has increased due to the rising focus of the feed manufacturer on extending the shelf life of the feed. In the last 60 years, significant dietary changes have occurred in livestock breeding, which has resulted in the increased need and usage of feed preservatives such as mold inhibitors and anticaking agents.
By source, synthetic segment is projected to grow fastest in the feed additives market during the forecast period
By source, the synthetic segment is anticipated to grow fastest over the forecast period. Easier availability of raw materials and lower production costs are the major factors driving the demand for the synthetic feed additives. Stronger market penetration than the natural segment will also ensure a higher growth rate for synthetic feed additives.
The North America region is the second-largest region in the feed additives market in the forecast period
North America is the second-largest region in the global feed additives market in the forecast period. The feed additives market in North America is majorly driven by the growth in livestock population in US and Mexico. The region witnesses high production and consumption of feed additives. The presence of major feed additive manufacturers such as Cargill (US), ADM (US), DuPont (US), Kemin Industries Inc. (US), and Alltech (US), further drives the market.
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This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Cargill (US), ADM (US), DuPont (US), Evonik (Germany), BASF (Germany), DSM (Netherlands), Novozymes (Denmark), Chr. Hansen (Denmark), Ajinomoto (Japan), TEGASA (Spain), Nutreco (Netherlands), Kemin Industries Inc. (US), Adisseo (France), Alltech (US), Palital Feed Additives B.V (Netherlands), Global Nutrition International (France), Centafarm SRL (Italy), Bentoli (US), NUQO Feed Additives (France ), and Novus International Inc. (US).
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