Market Overview: —
Feed additives are ingredients used in animal nutrition to improve the quality and quality of feed. This further ensures high-quality animal products obtained from the particular livestock. Use of feed additives in the animal feed also improves the animals’ performance and health. Production of feed additives needs to be authorized by the government body in order to get into the global market.
With rapid urbanization and growing population, the production of livestock has increased. Owning to this, the production of feed is experiencing a surge. The production of feed is directly influencing the growth of feed additive for the proper metabolism and growth of the livestock. Increasing awareness among the farmers about the health of their livestock has raised the demand for feed additives globally. Feed additives offer animal nutrition solution. With the technological advancements, high amount of nutritionally beneficial additives like probiotics are available in the market.
Rising prices of raw material will affect the prices of compound animal feed. This in turn will also hinder the growth of feed additives in the global feed market. Also, the cost of extraction of feed additives from these natural sources will also increase. Volatile prices of plant sources of raw material can cause the supply and demand gap of feed additives market which is expected to pose a major challenge in the global feed additives market.
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Latest Industry Updates:
July 2017 Cargill Inc. and Delacon have agreed to come up with a strategic partnership to produce plant- based feed additives on a global level. Plant-based feed additives refer to the feed additives are produced from various natural ingredients which include spices, herbs, other plants and their extracts.
September 2017 Cargill Inc. has acquired Southern States Cooperative’s animal feed business. The acquisition will aid the organization to increase the presence in the Southeast, Mid-Atlantic and Northeast regions of the U.S.
March 2017 Archer Daniels Midland Company has expanded their production capacity in Xiangtan, China. The company has increased the production capacity of 120,000 t for premix, concentrate, animal- and fish-complete feeds.
December 2017 Bluestar Adisseo Co., Ltd. has acquired Nutriad. The acquisition will aid the company to increase the presence in China and other countries of Asia-Pacific region
Major Key Players Review:
The feed additives market is competitive with major market players operating at the global level. The key industry players in the feed additives market have adopted the strategies such as geographical expansion, new product launch, acquisitions, agreement, joint venture & partnerships to strengthen their business portfolio. Most of the companies operating in this market are focusing on expanding its operations across the geographies, augmenting its capabilities and investing in research and development to offer variety of products.
Major manufacturers are found to have a high focus on strategic acquisitions and business expansions. They are also involved in the strategic agreement which will further support the company to expand and reach out to consumers across the regions. Acquisitions are also done to mark the company’s presence and expand their business line.
The key players profiled in feed additives are Cargill Inc. (U.S.), BASF SE (Germany), Archer-Daniels-Midland Company (U.S.), Evonik Industries (Germany), Adisseo France SAS (France), Alltech, Inc. (U.S.), DowDupont Inc. (U.S.)
Global feed additives market has been divided into type, form, livestock and Region
On the Basis of type: Amino Acid, Vitamins, Carotenoids, Enzymes, Prebiotics & Probiotics, Minerals, Acidifiers, Lipids and Others
On the Basis of form: Dry and Liquid
On the Basis of livestock: Poultry, Swine, Ruminants, and Others
On the Basis of Region: North America, Europe, Asia Pacific and Rest of the World
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The global feed additives market is segmented into North America, Europe, Asia Pacific and Rest of the World. Among all the region, Asia-Pacific region has accounted for the major market share in the year of 2017 and it is estimated to retain its dominance throughout the forecast period of 2017-2023. The growth of the feed additives is attributed to the various factors in Asia-Pacific region. Increasing consumption of meat & meat related products in Asia-Pacific countries is expected to increase the growth of feed additives market. Moreover, increasing population in developing economies of Asia-Pacific region along with the rising standards of living of the consumers are anticipated to increase the growth of feed additives market at a high pace. Among the Asia-Pacific, China and India are collectively holding approximately 55% market share in the overall Asia-Pacific feed additives market. However, North America region is projected to expand at a high growth rate during the forecast period of 2017-2023.
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