ArshineFeed: Future Feed Additive Market Size Forecast
Growing meat consumption and numerous Outbreaks of animal diseases have led to explosive growth in thefeed additive industryThis is accompanied by the development of new feed products and product categories, such as
poultry sector Accounted for the largest market share in 2020, while the aquaculture segment is expected to Register the highest CAGR during the forecast period.
According to the new market research report "Animal Feed Additives MarketForecast to 2028 - COVID-19 Impact and Global Analysis By Type (Amino Acids, Vitamins, Carotenoids, Enzymes, Prebiotics And Probiotics, Minerals, Acidifiers, Lipids, And Others) and Livestock (Poultry, Ruminants, Swine, Aquaculture, and Others)", the global animal feed additives market was valued at US$ 34,583.5 million in 2021 and is projected to reach US$ 49,874.8 million by 2028; it is expected to grow at a CAGR of 5.4% from 2021 to 2028.
Ashine,Cargill, Incorporated; ADM; Evonik Industries AG; Land O'Lakes, Inc.; Nutreco N.V; Alltech; DuPont de Nemours, Inc.; DSM; Novozymes; and Kemin Industries Inc. are among the prominent players operating in the
global animal feed additives market. The players in the market are adopting mergers & acquisitions, research & development, and expansion strategies.
The animalfeed additives marketis booming due to the growing livestock production across the world due to the increased consumption of meat and meat products. The growing feed production is further expected to benefit the market as additives are widely utilized in the feed manufacturing process. Numerous essential micronutrients are commonly added in feed to raise feed conversion ratio, which has resulted in a positive impact on the feed additives market due to growing demand from feed manufacturing players.
The Asia Pacific accounted for the largest share of the Animal Feed Additives Market in 2020. The region
consists of developing countries such as China and India with a growing middle class possessing high disposable income. Consumers are therefore opting for a variety of food and beverages, including packaged meat products.
Moreover, the increase in the number of health-savvy consumers is growing in the region resulting in demand for high protein products such as poultry meat. Therefore, the increased meat consumption in the region has led to
a larger market share in the animal feed additives market.
Growing Livestock Production to Boost Market Growth:The growing livestock production across the globe is expected to benefit the animal feed additives market over the forecast period as additives are widely utilized in feed for livestock. The rising demand for dairy products has resulted in growth in milk production and demand for ruminant feed. Moreover, the growing demand for packaged meat products, especially the post-COVID-19 pandemic, has positively benefitted the market as livestock production has witnessed a significant surge in demand from end-users. The market is therefore expected to benefit from the growing livestock production over the forecast period.
Animal Feed Additives Market: Segmental Overview
By type, the animal feed additives market is segmented into amino acids, vitamins, carotenoids, enzymes, prebiotics and probiotics, minerals, acidifiers, lipids, and others. By livestock, the animal feed additives
market is segmented into poultry, ruminants, swine, aquaculture, and othersImpact of COVID-19 Pandemic on Animal Feed Additives Market The animal feed industry had been negatively impacted due to disruptions in manufacturing activities and the supply chain caused by the COVID-19 pandemic. However, over the forecast period, the pandemic is expected to
positively affect the market as a result of increased precautions from animal feed manufacturers to prevent infections and animal-borne diseases. The ease in regulations concerning lockdown along with mandatory vaccination policies in countries across the world is expected to further help with the recovery phase of the global animal feed additives market.
Developing meat intake and numerous outbreaks of animal illnesses have caused explosive increase inside the
Additive enterprise that is accompanied by the development of latest feed products and product classes, consisting of Natural feed. Chicken area accounted for the most important market percentage in 2020, whilst the aquaculture phase is Predicted to check in the best cagr in the course of the forecast period.
Consistent with the new market research record "animal feed components marketplace forecast to 2028 - covid-19 effect And global analysis by using type (amino acids, vitamins, carotenoids, enzymes, prebiotics and probiotics, minerals, Acidifiers, lipids, and others) and livestock (hen, ruminants, swine, aquaculture, and others)", the global Animal feed additives marketplace changed into worth us$ 34,583.Five million in 2021 and is projected to attain us$ forty nine,874.Eight Million by 2028; it is anticipated to develop at a cagr of 5.Four% from 2021 to 2028.
Ashine,cargill, incorporated; adm; evonik industries ag; land o'lakes, inc.; nutreco n.V; alltech; dupont de Nemours, inc.; dsm; novozymes; and kemin industries inc. Are the various distinguished players running within the Global animal feed additives market. The players inside the marketplace are adopting mergers & acquisitions, research & Improvement, and expansion techniques.
The animal feed components market is booming because of the growing livestock manufacturing the world over because of the Accelerated intake of meat and meat products. The developing feed manufacturing is similarly predicted to benefit the Marketplace as additives are extensively applied inside the feed production system. Severa critical micronutrients Are commonly introduced in feed to elevate feed conversion ratio, which has ended in a high-quality effect on the feed Components marketplace due to growing demand from feed production players.
The asia pacific accounted for the largest proportion of the animal feed additives market in 2020. The vicinity Includes growing nations together with china and india with a developing center magnificence possessing
excessive disposable Earnings. Consumers are consequently choosing a selection of food and liquids, inclusive of packaged meat products.
Moreover, the increase inside the quantity of health-savvy clients is developing within the area ensuing in demand for High protein products consisting of chicken meat. Therefore, the multiplied meat consumption within the vicinity has led to A larger marketplace proportion within the animal feed components marketplace.
Developing cattle production to enhance marketplace boom:
The growing livestock manufacturing across the globe is predicted to gain the animal feed additives marketplace over The forecast length as additives are broadly applied in feed for farm animals. The growing demand for dairy Products has led to growth in milk manufacturing and call for for ruminant feed. Furthermore, the growing demand For packaged meat products, specially the publish-covid-19 pandemic, has positively benefitted the market as Cattle production has witnessed a tremendous surge in call for from end-customers.
The market is consequently Predicted to benefit from the developing farm animals production over the forecast period.Animal feed components market: segmental review By way of type, the animal feed additives market is segmented into amino acids, vitamins, carotenoids, enzymes, Prebiotics and probiotics, minerals, acidifiers, lipids, and others. Through cattle, the animal feed components Market is segmented into fowl, ruminants, swine, aquaculture, and others Effect of covid-19 pandemic on animal feed components marketplace The animal feed industry have been negatively impacted because of disruptions in manufacturing activities and the
Supply chain resulting from the covid-19 pandemic. But, over the forecast length, the pandemic is expected to Undoubtedly affect the marketplace due to extended precautions from animal feed manufacturers to save you
Infections and animal-borne illnesses. The benefit in regulations regarding lockdown together with obligatory Vaccination regulations in international locations internationally is expected to similarly help with the restoration section of the Globalanimal feed additivesmarket.