Feed Additives Market by Type (Enzymes, Amino acids, Probiotics, Minerals and Antioxidants), Livestock (Poultry, Ruminants and Aquatic Animal), Source (Synthetic and Natural), Form (Dry and Liquid) - Global Analysis & Forecast 2019-2030
Report ID : 151 | Published Date : May 2020 | Pages : 200 | Region : Global | Report Code : FB-12
Feed Additives Market Overview and Introduction
Feed additives are referred to any intentionally added ingredient not normally consumed as feed by itself. They affect the nutritional value, characteristics of feed and animal productivity. Based on the purpose of use; feed additive includes micro-organisms, enzymes, acidity regulators, trace elements, vitamins, phytogenic substances, functional ingredients, probiotics, antioxidants among others. The global feed additive industry is focusing on improving feed efficiency and reducing environmental impact by life cycle analysis of livestock and resource-efficient feed production.
The global feed additives market is driven primarily by an increase in production & consumption of livestock based products. Feed additives is an essential ingredient for promoting the growth of livestock which will eventually increase the production of livestock based products. Moreover, growing emphasis on the standardization & quality improvement of livestock products has been significant in contributing to the growth of the market. However, the existence of stringent regulations in several regions for the use of feed additives is likely to restrain the market to a certain extent.
The global feed additives market is segmented by type, livestock, source, form, and region.
Feed Additives Market by Type
On the basis of type, the feed additives market is segmented into enzymes, amino acids, probiotics, minerals, antioxidants, and others. In 2018, minerals segment was estimated to account for the largest share in the global feed additives market. The large share of this segment can be attributed to numerous advantages & properties offered by minerals such as promoting intake of feed by livestock for their healthy growth, higher yield of livestock based products and improvement of overall health of livestock.
Feed Additives Market by Livestock
Based on livestock, the market has been segmented into poultry, ruminants, aquatic animal and others. In 2018 the segment of poultry is estimated to account for the largest market share, owing to the increasing consumption of protein-rich poultry products which is ensured by improved poultry outputs.
Feed Additives Market by Source
Similarly, in terms of source the feed additives market has been segmented into synthetic and natural. The synthetic feed additives segment is estimated to grow at a robust CAGR during the forecast period owing to the increased production of synthetically based feed additives by key players for a wide range of livestock.
Feed Additives Market by Form
Based on the form, the market is segmented into dry and liquid. The dry segment is estimated to account for largest market share in 2018 of the global feed additives market. The large share of this segment can be attributed to several properties such as ease of handling, mixing and storing dry form of feed additive when compared with a liquid form of feed additive.
Feed Additives Market by Region
The global feed additives market can be segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). Asia Pacific is anticipated to dominate the feed additives market during the forecast period. The Asia Pacific will continue to dominate the global feed additives market in the forecast period owing to factors such as rising demand for livestock based products which is attributed mainly to the continuous economic growth of countries in this region. The highest CAGR in this region is owing to the large scale consumption of meat mainly in countries such as China and other countries of Asia. For instance, based on a report by Agriculture and Agri-Food Canada (AAFC), the total sale of meat in China will reach 68.9 million tons by 2021, which is 3.3 million tons increased from the volume in 2016.
Feed Additives Market Prominent Players
The prominent players in the global feed additives market are Cargill, Incorporated, BASF SE, DuPont, ADM Animal Nutrition, Kemin Industries, Inc., Alltech, Chr. Hansen Holding A/S, Adisseo, Solvay, Novozymes among others.