Global Feed Additives market is expected to grow in the forecast period 2024-2028 due to rising demand of livestock products
According to TechSci Research report, “Feed Additives Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028”, Global Feed Additives Market is anticipated to upsurge at an impressive rate in the forecast period 2024-2028. A significant factor fueling the growth of the Global Feed Additives Market is increasing demand for livestock products. Additionally, increasing consumption of animal-based goods with standardization of food products due to disease outbreaks, the demand for feed additives rises which further fuels the growth of Global Feed Additives Market.
For instance, in September 2020, Adisseo acquired Framelco G to enhance the growth specialty feed ingredients in animal nutrition.
Furthermore, the market is being further stimulated by the growing demand for natural and organic based feed additives as well as rising concern regarding the safety of animal health.
However, fluctuation in raw material prices can slow down market growth. Also, stringent regulations on the usage of some antibiotics can further slowdown market growth.
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Global Feed Additives Market is segmented based on ingredient type, livestock, form, and region.
Based on ingredient type, the market is categorized into antibiotics, vitamins, enzyme, antioxidants, probiotics, and others. Probiotics are expected to hold the largest market share in the forecast period, 2024-2028. As they help to maintain and improve the performance of the animal and prevent and control enteric pathogens.
Based on livestock, the market is fragmented into poultry, ruminants, swine, aquatic animals, and others. Poultry is expected to hold the largest market share in the forecast period, 2024-2028. This is due to rising preferences for a specific color of yolk and meat for consumption.
Based on form, the market is segregated into dry and liquid. Dry segment will experience the highest market share during the forecast period, 2024-2028. Due to its convenient storage and packaging, longer shelf life, and easy to use features.
Major companies operating in the Global Feed Additives Market are:
- Bluestar Adisseo Co., Ltd
- Koninklijke DSM N.V.
- BASF SE
- Nutreco N.V.
- Cargill, Incorporated
- Danisco Animal Nutrition & Health
- Alltech, Inc.
- The Archer-Daniels-Midland Company
- Chr. Hansen Holding A/S
- Evonik Industries AG
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“Asia Pacific region is expected to grow at the highest rate during the forecast period due to increasing demand for processed meat and protein diets. Additionally, increasing demand for feed additives for the enhancement of nutritional quality of feed as well as increasing production of animal protein creates lucrative opportunities for market growth. Furthermore, in North America, intense presence of the mills and pet food producing industries as well as growing health concern with respect to meat consumption create huge prospects of market growth during the forecast period,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Feed Additives Market- Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Ingredient Type (Antibiotics, Vitamins, Enzyme, Antioxidants, Probiotics, Others), By Livestock (Poultry, Ruminants, Swine, Aquatic Animals, Others), By Form (Dry, Liquid), By Region and Competition, has evaluated the future growth potential of global Feed Additives market and provides statistics & information on market size, structure, and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in Global Feed Additives Market.”
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