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Industry Insights, Market Size, CAGR, High-Level Analysis: Animal Feed Additives MarketThe global animal feed additives market size was USD 37.83 billion in 2019 and is projected to expand at a CAGR of 3.8% from 2020 to 2027. Growing meat consumption coupled with a recent outbreak of diseases, has generated the need for additives in poultry, aqua, and other animal-based products which in turn, is expected to drive the product demand. Additives are the components critical for the enhancement of performance as well as health of the animals. Hence, these products are circuitously influencing human food product characteristics. Consumption of food containing a suitable quantity of additives exerts positive effects on livestock, such as improvement in digestion and reproduction. However, regulations restricting the use of antibiotics in animal feed are projected to restrain the growth in the forthcoming years. Europe has introduced rules to limit the usage of antibiotics, which is intended for food-producing animals owing to reduced resistance to bacteria. Such a factor is anticipated to further restrain the growth of the market over the forecast period.Cattle is the primary source of dairy products across the world. A significant rise in cattle farming is likely to drive the demand for animal feed additives over the forecast period. Additionally, increasing consciousness about the benefits of additives and the recent outbreak of various diseases has positively impacted the demand. Key companies in the market engage in R&D activities to offer consumers with efficient products, which is expected to fuel the demand for animal feed additives. Also, the market players are focusing on developing and expanding their existing product lines and global presence to strengthen their market presence. For instance, in March 2019, BASF SE launched phytase Natuphos E in Indonesia. It is an enzyme, when added to the feed, improves animal health.
Product Insights of Animal Feed Additives MarketOn the basis of product, the animal feed additives market is categorized into amino acids, vitamins, antibiotics, antioxidants, acidifiers, enzymes, and others. Amino acids accounted for 33.6% of the overall market in terms of revenue in 2019.Growing consumer awareness regarding the benefits associated with the use of feed additives to reduce the prevalence of diseases has supported the demand. Amino acids are considered as protein building blocks for livestock health. Amino acids are responsible for enhancing gut health, food intake, reproduction, and metabolic process, among others. Different forms of amino acids include, threonine, tryptophan, lysine, and methionine. Lysine is primarily used in the pork industry, while methionine is predominantly used in the poultry industry. Inclusion of antibiotics in animal feed promotes growth and prevents the occurrence of diseases. For example, in chicken feed, the use of antibiotics such as penicillin and tetracycline reflects significant improvement in feed efficiency, hatchability and egg production, but no substantial effect on mortality. Antibiotics also improve meat quality, result in high protein content, and less fat content. The excessive use of antibiotics as growth promoters resulted in the local bacterial population becoming resistant to the antibiotics. Traces of antibiotics in meat can also affect human health due to the presence of excessive growth promoters in them.
Livestock InsightsPoultry emerged as the leading livestock segment in 2019, with revenue estimates of USD 13.92 billion. The upsurge of diseases such as bird flu has led to the implementation of stringent regulations and norms, further boosting the demand for specific additives. Also, the global poultry meat production is estimated to increase at a high rate, which is expected to increase demand for poultry feed over the forecast period. The pork segment accounted for a market share of around 28% in 2019. Rising pork consumption in regions including North America, Europe, and Asia Pacific is expected to drive the growth. Canada, Brazil, U.S., and China are the key producers and consumers and of swine feed. This factor is projected to foster the demand for feed and feed additives in these regions. Depending on the growing stage, the feed is classified into grower feed, sow feed, and pig starter feed. It is, therefore, necessary to provide proper formulations and rations at each stage of growth. Antimicrobials, enzymes, binders, emulsifiers, antioxidants, and pH control agents are some of the significant additives used in pork feed-antibiotics aid in improving growth performance and disease control. Furthermore, fat-soluble vitamins, such as A, D, E, K, and water-soluble vitamins, such as B12, choline, riboflavin, and niacin are added to pork feed to enhance the growth performance.
Regional Insights of Animal Feed Additives MarketAsia Pacific emerged as the largest regional market for animal feed additives in 2019 with a volume share of over 37%. The region has experienced strong rise in demand on account of strong economic growth in emerging economies, such as China, Indonesia, and India. Growing population along with rising living standards have spurred the regional demand for meat, which in turn is anticipated to fuel the product demand. China is the largest producer and consumer of meat in the world. Chinas rapid urbanization supported by strong economic growth coupled with rising demand from India, Indonesia, and Vietnam due to factors such as changing lifestyles and increasing disposable income is anticipated to fuel the regional demand for nutrition rich animal source foods in the forthcoming years. North America accounted for 21% of the total market share in terms of volume in 2019. Stringent regulations regarding meat quality are expected to remain the key factor driving the demand. Besides, the high availability of raw materials such as, dextrose, maize, and corn is also anticipated to fuel the demand over the forecast period.
Market Share Insights of Animal Feed Additives MarketThe market is highly fragmented in nature with the presence of established players, such as Cargill, Incorporated; Alltech; Kemin Industries, Inc.; DSM; and Novozymes. They are vertically integrated through the value chain from sourcing the raw material to developing the finished product. Also, they are involved in continuous R&D activities to develop new products as well as are focused on expanding the product portfolio. This is expected to intensify competition and pose a potential threat to the new market entrants.
Segmentations, Sub Segmentations, CAGR, & High-Level Analysis overview of Animal Feed Additives Market Research ReportThis report forecasts revenue and volume growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2019 to 2030. For the purpose of this study, this market research report has segmented the global animal feed additives market report on the basis of product, livestock, and region:
Product Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
- Vitamin A
- Vitamin E
- Vitamin B
- Vitamin C
- Amino Acids
- Non-starch Polysaccharides & Others
- Feed Acidifiers
Livestock Outlook (Volume, Kilotons; Revenue, USD Million, 2019 - 2030)
Table of Contents Chapter 1 Methodology and Scope 1.1 Market Segmentation 1.2 Market Definition 1.3 Information Procurement 1.3.1 Purchased Database 1.3.2 GVR’s Internal Database 1.3.3 Secondary Sources 1.3.4 Primary Sources 1.3.5 Third Party Perspective 1.3.6 Primary Research 1.4 Information Analysis 1.4.1 Data Analysis Models 1.5 Research scope & assum | read more...