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The global Animal Feed Additives market was valued at USD 40.40 Billion in 2022 and growing at a CAGR of 5.65% from 2023 to 2032. The market is expected to reach USD 70 Billion by 2032. An increase in the consumption of meat products due to a surge in the per capita income of the consumer and a shift in consumer eating habits as there is an inclination toward a protein-rich diet are some factors which are boosting the industry's growth. There is also a growing awareness towards meat quality and safety, and a focus on an increase in the mass production of meat and disease outbreaks in livestock are also boosting the market. Animal feed additives are the nutritional or pharmaceutical substances added to prepared and stored feeds which are not of natural origin. These additives are gaining popularity because of many functionalities, like controlling infectious diseases and improving animal feed digestibility.
Animal feed additives are food supplements given to farm animals because regular food is generally insufficient to meet the nutritional requirements that help in the proper growth of the animals. These feed additives consist of nutrients like vitamins, amino acids, fatty acids and minerals. The global demand for quality meat and dairy products has increased, eventually driving the market. These additives are generally administered orally. Animal feed additives are crucial ingredients used with the feed to offer crucial nutrition to livestock and improve overall growth and outcome. Livestock require sufficient energy sources for important life processes such as muscular activity. These feed additives offer crucial nutrients and high fibre content like carbohydrates, proteins, fats, vitamins and growth stimulants, improving the digestive metabolism, efficiency and immunity, especially in young livestock. The additives improve the yield and quality of feed, resulting in improved animal performance and health. There is also an increase in investment and financial support for livestock farming as supplementary businesses are growing like agriculture, which helps grow the demand for meat. Also, there has been innovation in processing equipment technology. These factors are also supporting the growth of the market. Moreover, there is a growing focus on livestock nutrition for offering quality meat products, which would help the consumer's health and diet and thus positively influence the market. Post-pandemic, the animal feed additive market is estimated to grow as there is growing concern for food safety worldwide. Several governments worldwide have raised the issue regarding animal-derived foods. This will increase the demand for the market in the forecasting period. The feed additives for the ruminants are generally coated to avoid degradation due to the action of micro-organisms present in the rumen.
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The growing demand for livestock-based products– The growing demand for livestock-based products like meat, eggs, dairy and dairy-based products is driving the use of animal feed additives, which help in the proper development of farm animals. Meat production is growing due to the high demand for poultry meat and low production costs. The product prices are low in both the developed and emerging economies. Also, people have become aware of the role and dynamics of food nutrients like protein on complete mental and physical growth. Hence, there is a growing demand for animal-sourced protein in the form of eggs, meat, milk, etc. All these factors eventually drive the animal feed additives as they help increase the nutritional quality of the animal. These factors are eventually driving the animal feed additives market.
Stringent regulation and high cost of extraction– The animal feeds antioxidants and vitamins, which are generally extracted from natural sources like seeds, plant leaves and tree bark. The high cost of extraction of such sources and the stringent regulations for waste biomaterial and wastewater treatment are some of the factors that act as restraints for the market. As the demand for a protein-rich diet increases, the industry is pressured to get raw feed like wheat, corn, and barley. These factors act as hindrances to the market.
Growing demand for the packaged food & beverage sector– Based on one of the studies, the packaged food & beverage sector was anticipated to cross USD 3 trillion by 2024. Consumers have a strong demand for meat products and packaged meat as they have busy work schedules, and disposable income is also increasing. Advancements in technology are also happening together with continuous improvement in the finished products. All these factors would eventually drive the animal feed additives market. Also, the limitation in the availability of water, the surge in life expectancy and optimal feed consumption in the meat sector are further reinforcing the demand for the product. These animal feed additives act as supplements for farm animals, which helps improve feed quality. It helps improve the animal's health and performance. All these factors eventually propel the Animal Feed Additives market in the forecasting period.
The regions analyzed for the market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. Asia Pacific emerged as the largest market for the global Animal Feed Additives market, with a 34.43% share of the market revenue in 2022. This significant market share is due to an ample livestock population and the availability of several agricultural economies. The leading organizations are developing their poultry feed portfolio as consumers in the region are shifting their preference towards meat consumption. The market in the region is growing mainly due to significant growth in emerging economies like India and China, as there is steady growth in the income level of the people due to growing industrialization. Hence, the demand for better-quality meat products is growing, eventually driving the market in the region.
Asia Pacific Region Animal Feed Additives Market Share in 2022 - 34.43%
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The product segment is divided into vitamins, antioxidants, antibiotics, amino acids, feed enzymes, feed acidifiers and others. The amino acids segment dominated the market, with a market share of around 33.88% in 2022. This significant share is due to its popularity among meat producers as a growth amplifiers. It helps in the faster growth of the livestock, which helps the meat producers speed up their return on investment. Lysine is a broadly used amino acid feed additive. Other major amino acid feed additives are Methionine, Tryptophan and Threonine.
The livestock segment is divided into pork/swine, cattle, poultry, aquaculture and others. The poultry segment dominated the market, with a market share of around 39.65% in 2022. This significant share is attributed to the fact that animal feed additives play a crucial role in the poultry diet, which helps improve growth efficiency and laying capacity. It helps improve the cattle's digestive and health systems and lowers the input cost compared to the output by properly regulating the pH levels and metabolism. It offers important nutrients for external optimum growth.
Report Description:
| Attribute | Description |
|---|---|
| Market Size | Revenue (USD Billion) |
| Market size value in 2022 | USD 40.40 Billion |
| Market size value in 2032 | USD 70 Billion |
| CAGR (2023 to 2032) | 5.65% |
| Historical data | 2019-2021 |
| Base Year | 2022 |
| Forecast | 2023-2032 |
| Region | The regions analyzed for the market are Asia Pacific, Europe, South America, North America, and Middle East & Africa. Furthermore, the regions are further analyzed at the country level. |
| Segments | Product and Livestock |
Asia Pacific region emerged as the largest market for the Animal Feed Additives.
The market's growth will be influenced by the growing demand for livestock-based products.
Stringent regulation and high cost of extraction could hamper the market growth.
Growing demand for the packaged food & beverage sector will provide huge opportunities to the market.
Key players are Cargill Inc., Evonik Industries, Kemin Industries, Inc., Alltech, Inc., ADM, Olmix Group, BIOMIN Holding GmbH, BASF SE, Chr. Hansen Holding and ANOVA Group among others.
This study forecasts revenue at global, regional, and country levels from 2019 to 2032. The Brainy Insights has segmented the global Animal Feed Additives market based on below mentioned segments:
Global Animal Feed Additives Market by Product:
Global Animal Feed Additives Market by Livestock:
Global Animal Feed Additives by Region:
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