Animal feed additive is an additive of extra nutrient or drug for livestock. Such additives include vitamins, amino acids, fatty acids, minerals, pharmaceutical, fungal products and steroidal compounds. The additives have impact on feed presentation, hygiene, digestibility, or effect on intestinal health.
Animal Feed Additives Market: Key Players
The research study includes profiles of leading companies operating in the global Animal Feed Additives market. Key players profiled in the report include: Cargill, DowDuPont, ADM, Evonik, BASF, DSM, Solvay, Ajinomoto, Novozymes, and Alltech.
Drivers for the Global Animal Feed Additives Market:
Increase in demand and consumption of livestock-based products such as dairy & dairy-based products, meat, and eggs is the main driving factor for boosting global animal feed additives market globally. Poultry meat is the primary driver for the growth of the overall meat production, owing to its high demand, low production cost, and lower product prices. Thus, it becomes necessary to feed animals with proper additives, so that they can meet the growing demand of meat and dairy products.
Opportunities for the Global Animal Feed Additives Market:
The market is witnessing significant opportunities owing to outpouring in demand for processed meat, which increased the consumption of feed additives, thereby boosting the demand for additives in the animal nutrition and feed industry. This will create lucrative opportunities for animal feed additives in near future.
Restrains for the Global Animal Feed Additives Market:
Antibiotics have been majorly used in animal feed additives. However, many countries have restricted the use of antibiotics around the globe, especially in countries such as China, India, and the US due to their overexploitation or misuse. This acts as a major restraint for manufacturers that offer antibiotics-based feed additives.
Region Wise, Global Animal Feed Additives Market Analysis:
Asia Pacific held largest share in animal feed additives market and is expected to grow with higher CAGR owing to the presence of large livestock population and growth. Further, an increase in the demand for compound feed in these regions, especially China and India is responsible for the growth of this market in this region. There has been a considerable demand for additives in these developing markets. It is followed by North America and Europe.
Global Animal Feed Additives Market: Product analysis
- Amino Acids
- Mycotoxin Detoxifiers
- Flavors & Sweeteners
Global Animal Feed Additives Market: Livestock analysis
- Aquatic Animals
Global Animal Feed Additives Market: Region analysis
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of L.A.
- Middle East and Africa
- South Africa
- Rest of Middle East
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