Feed Additives Market is anticipated to grow at a CAGR of ~5.8% from 2019 to 2030
Market Industry Reports (MIR) has published a new report titled “Feed Additives Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the global feed additives market is estimated to be over US$ 34.4 Bn in 2019. It is anticipated to grow at a CAGR of ~5.8% from 2019 to 2030.
The significant growth of the market can be attributed to increased production & consumption of livestock based products. Moreover, rising focus on livestock growth & welfare promotes the growth of this market. Intensive Research & Development and opening of new facilities by key players for increasing the production of feed additives is propelling the market growth. For instance, in 2019, Archer Daniels Midland Company (ADM) opened a new high-tech livestock feed facility in Quincy, Illinois for expanding and improving their animal nutrition portfolio. However, the stringent regulatory policies in several regions restrict the addition of specific feed additive eventually hampers the market growth.
The major factor which helps in driving market growth is the increasing demand and consumption of livestock based products. For instance, according to the United Nations food and agriculture organization (FAO) from 2010 to 2050, the production of meat will rise by 70%, aquaculture by 90% and dairy by 55%. Moreover, the increasing consumption of livestock based products is creating pressure on industries for faster production of livestock based products. For instance, according to WHO, by 2030, the per capita consumption of livestock products will rise by 44%. To meet with the increasing consumption rate, livestock production can be increased by the addition of feed additives which in turn will fuel the growth of this market.
Several developmental strategies of key players such as investments, and acquisitions & agreements are contributing in propelling the growth of feed additives market. For instance, in August 2019 Cargill, Incorporated signed an agreement with White Dog Labs for providing sustainable aquaculture feed and discovering new & strategic ingredients for feed additives which are high in protein and amino acids. Moreover, the launch of new feed additives in the market is excelling in the growth of the market. For instance, in March 2019, BASF introduced new phytase Natuphos E., an enzyme that helps poultry animals for better utilization of important nutrients such as phosphorus, calcium, amino acids and energy. Along with promoting the healthy growth of animals, the enzyme simultaneously reduces phosphorus emissions from livestock.
Browse key industry insights spread across 200 pages with market data tables & figures & charts from the report, 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 in detail along with the table of contents:https://www.marketindustryreports.com/feed-additives-market/151
However, the outbreak of diseases in livestock hampers the growth of the feed additives market. For instance, in 2019 a low pathogenic avian influenza (LPAI) A(H5) outbreak in poultry was reported in Europe particularly in France and Hungary. Moreover, the ban on antibiotics used as animal feed in several regions is also restraining the growth of this market. For instance, in 2018 the Chinese government launched a pilot program for eliminating the use of antibiotics in livestock feed by 2020. The restriction on use of antibiotics in animal feed is mainly due to increasing concern over development of anti-microbial resistance (AMR).
Asia Pacific is estimated to account for the highest CAGR in the feed additive market over the forecast period. The increasing number of feed mills, change in demographics, food habits, and lifestyle are factor contributing to fueling market growth. Additionally, extensive research & development by key players in this region are propelling market growth. For instance, in December 2019, Adisseo launched a new Research & Development Centre in Singapore. The new facility focuses on nutrition, aquatic animal health, and innovative aquatic science technologies.
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.
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