The global feed additives market is developing at a significant rate due to the increase in the livestock population for meat consumption as a source of protein. Feed additives are vital in animal nutrition, as they enhance the quality of feed, and thereby enrich the animals’ performance and health. They also subsequently improve the yield and quality of food from animal origin.
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Feed additives are used in animal nutrition to boost the quality and properties of animal fodder to enhance features such as palatability preservation, overall gut health/digestive performance, and others. They have gained reputation globally, as they further the overall health of the animal, in turn enhancing the quality and quantity of meat produced from them. For example, poultry feed additives are used to improve the bird’s egg-laying capacity, disease prevention, and feed utilization. Likewise, a swine diet consists of various natural and synthetic additives, such as high dietary levels of copper and zinc, acidifiers, and phytase to increase the productivity and profitability of this feed.
Feed Additive firm Appario PLC is said to benefit significantly due to the ban on the use of antibiotics on farm animals in the USA and Europe. Appario produces natural feed additives that improve the nutrition and gut health of livestock like fish, pigs, cows, and chickens.
Kemin, a global manufacturer of animal feed additives, recently announced that it would be expanding its India operations as the animal protein industry is slated to grow rapidly in the South Asian nation.
Ocean Harvest technology, an Irish seaweed based feed additive manufacturer, is looking to boost its production due to the growing trend of eschewing antibiotics and is looking to expand into Europe, North America, and Asia Markets.
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Drivers and Restraints of Market
The growth of the Feed Additives market is majorly driven by factors such as the rise in global meat consumption, a better understanding of quality feed, industrialization of the livestock industry, the danger of diseases in livestock, and the ecological impact of the meat and dairy industry. Technology innovations are also playing a crucial role in the advancement of this industry. Another major factor driving the growth of the market is the demand for low-cost meat with superior nutritional value throughout the globe. Different regulatory structures, volatile economies, and an increasing cost of operations are the major restraining factors for the market. And also, an increase in the value of raw materials for feed additives is a key challenge for the companies in the market.
Market Value and Growth
Feed Additives Market is valued at USD 26.6 billion in 2019 and is projected to grow at a Compound Annual Growth Rate (CAGR) of 4.54 % during the forecast period to a net market size of USD 33.2 billion in 2024.
The Global feed additives market is segmented based on the type and livestock. The market for feed additives, by type, is classified into Antibiotics, Antioxidants, Amino Acids, Enzymes, Vitamins, Mycotoxin Detoxifiers, Prebiotics, Acidifiers, Probiotics, Feed Pigments, Feed Binders, Flavours and Sweeteners, Feed Minerals and each is further classified into subgroups. By livestock, the global feed additives market is segmented into poultry, cattle, swine, aquatic animals, and others. By livestock, the poultry segment leads the feed additives market. Amino Acids, antibiotics, acidifiers, and vitamins are the vital sectors accounting for almost 50% of the entire feed additives market. Feed antioxidant is another high growth segment in this market owing to ramped-up efforts of manufacturers to avoid feed spoilage and wastage.
The market has also been geographically segmented into North America, Europe, Asia-Pacific and the Rest of the World. The Asia Pacific emerged as the leading market for animal feed additives and accounted for more than one-third of the total market revenue. The poultry segment is developing as a leading livestock segment for the consumption of feed additives, trailed by swine and cattle, because of the increase in demand for poultry meat, consumer taste preferences, and rise in disposable incomes in developing economies, primarily in China and India. The Asia-Pacific region is expected to offer lucrative growth opportunities, owing to the considerable increase in feed production and increasing awareness among the consumers about the quality of meat, and dairy and related products.
Some of the major companies dominating this market are:
• BASF SE
• Cargill, Inc.
• Alltech, Inc.
• Novozymes A/S
• Chr. Hansen Holding A/S
• Archer Daniels Midland Company
• Charoen Pokphand Foods Public Company Limited
• Nutreco N.V.
• Evonik Industries AG
• Adisseo France SAS.
BASF SE is the most abundant chemicals manufacturer worldwide both by volume and value. It was founded by Friedrich Engelhorn on 6 April 1865 in Mannheim, in the German-speaking country of Baden as Badische Anilin und Soda Fabrik. It is now headquartered in Ludwigshafen, Germany. It has over 115,000 employees and reported net revenue of EUR 64.475 billion for the year 2017. It was headed by Martin Brudermüller, who acted as the CEO as of 2018.
Major Point from Table of Content:
2. Research Methodology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
5. Market Segmentation
6. Geographical Analysis
7. Strategic Analysis
8. Market Leaders' Analysis
8.1 BASF SE
8.2 Cargill Inc.
8.3 Alltech Inc.
8.4 Novozymes A/S
8.5 Chr. Hansen Holding A/S
8.6 Archer Daniels Midland Company
8.7 Charoen Pokphand Foods Public Company Limited
8.8 Nutreco N.V.
8.9 Evonik Industries AG
8.10 Adisseo France SAS
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
a) List of Tables
b) List of Figures
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