The Feed Additives Market was estimated around USD 35,890 million in 2020 and is expected to grow at a CAGR of 5.8% over the forecast period (2021-2028).
The factors driving the growth of Feed Additives Market includes growing consumption of meats, eggs, and animal-based products around the world, rise in the number of feed mills, increasing production of livestock related products and improvements in the living standards. Moreover, rising concerns about meat’s safety, growing awareness about animal’s nutrition, changing diet patters, increasing adoption of advanced technologies by manufacturers and rapid urbanization, are some of the additional factors supplementing the Feed Additives Market size. In addition, the increasing investments by leading players on research and development, strategic mergers, and collaborations between key companies, rising disposable incomes and growing population growth rates, are further contributing towards the market growth.
However, growth of the Feed Additives Market is hindered due to growing prices of raw materials worldwide.
The leading players operating in the Feed Additives Market are Novus International Inc., Ajinomoto, Kemin Industries Inc, Evonik Industries AG, Aliphos Belgium SA, Global Nutrition International, Centafarm SRL, Cargill Incorporated, Archer-Daniels-Midland Company and Phibro Animal Health Corporation, among others.
Based on Type, the Amino Acid segment is predicted to grow at a significant CAGR during the forecast period
Growing consumption of meat and rise in the livestock pupation across the globe, are pushing Global Feed Additives Market.
Based on Form, the Dry segment is projected to expand at a remarkable CAGR over the forecast period
Dry additives are easy to mix with feed and is increasingly available in pellet and mash forms, are propelling growth of the segment.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
As per the Industrial Hemp Market Report, increasing number of feed mills across India and China, growing consumption of meat related products, rapid urbanization, rising per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Developments
- In 2021, Danisco Animal Nutrition introduced products such as the novel phytase feed enzyme, Axtra PHY GOLD across Malaysia, Thailand, and Australia.
- In 2020, Bluestar Adisseo formed a joint venture with Calysta Inc., a US-based protein producer, to launch an innovative feed solution for aquaculture called FeedKind.
Market Segmentation
Segmentation by Type
- Amino Acid
- Antioxidants
- Acidifiers
- Enzymes
- Vitamins
- Minerals
Segmentation by Livestock
- Swine
- Ruminants
- Poultry
- Aquatic Animals
Segmentation by Form
- Dry
- Liquid
Segmentation by Region
- Asia Pacific
- China
- Japan
- India
- Rest of APAC
- North America
- United States of America
- Canada
- Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
- RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
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