The global animal feed additives market was valued at USD 17.56 billion in 2017.
Increase in demand for healthy milk and meat products owing to rising concerns over food quality due to the outbreak of livestock diseases is driving the growth of global animal feed additives market size.
These modifiers enhance animal metabolism by improving production efficiency in lactating animals (milk yield per unit), carcass composition such as lean-fat ratio and decreasing animal waste.
However, sudden outbreaks such as African swine fever lead to volatility in the global trades in currency exchanges, economic sanctions which in turn leads to export bans, thus, disrupting feed additive company innovations.
Since the past few years, antibiotics have been widely utilized in optimum quantities in the animal feed production, to improve their growth performance.
However, accumulation of microbes leads to antimicrobial resistance which has forced various governmental organizations such as the European Union Commission to phase out and ultimately ban the marketing and use of antibiotics as feed growth promoters.
Global Animal Feed Additives Market size was estimated at USD 16 billion in 2014.
Growing meat consumption as a key protein source, especially in Asia Pacific and Latin America is expected to be a key driver for market demand over the forecast period.
Increased focus on product innovation, resulting in high R spending is expected to provide new growth opportunities to industry participants.High degree of regulatory intervention in developed markets of North America and Europe, coupled with raw material supply issues are expected to challenge product growth over the next seven years.
Asia Pacific and LATAM animal feed additive markets, which are comparatively less regulated, are expected to reach USD 7.2 billion and USD 2 billion by 2022, respectively.Browse Details of Report@ https://www.hexaresearch.com/research-report/animal-feed-additives-industry/With frequent regulatory updates and increasing R spending, the global feed additive industry is constantly evolving.
In recent times, there has been a significant increase in mergers, acquisitions and partnerships among market participants, in order to enhance product portfolio, gain access to regional markets and to avail synergetic benefits, As a result, we have witnessed companies increasing their presence across the value chain by integrating and diversifying their product portfolio.Key report insights suggest:- Global animal feed additives market was valued at USD 16 billion in 2014 and is expected to reach USD 21.9 billion by 2022, growing at a CAGR of 4% from 2015 to 2022.- Poultry feed additives dominate the market, with revenue estimated at USD 6.1 billion in 2014 and expected to grow at a CAGR of 4.3% from 2015 to 2022.
Aquaculture feed additives market is expected to reach USD 1.29 billion by 2022, with an estimated CAGR of 4.2% over the next seven years.- Amino acids accounted for over 30% of global demand in 2014, with revenue estimated to reach USD 8 billion by 2022.
According to the new market research report by IndustryARC titled “Animal Feed Additive Market: By Type (Technological & Zoo Technical Feed Additives, Nutritional Feed Additives, Sensory Feed Additives); By Livestock (Swine, Poultry, Cattle, Aquaculture and Others); By Geography - (2014-2020)”, the market is expected to be driven by rising awareness among consumers on quality food.APAC continues to lead the market share and growth during 2018-2023.Asia-Pacific with a major market share is the dominant region due to the high demand from meat producing countries and exporters such as Australia, New Zealand, China and India.
The industrialization of meat production, adoption of scientific feed, propelled by increasing awareness among producers, are driving the demand.Also, APAC is the fastest growing market for feed additives as compared to other regions mainly due to the increasing production and consumption of meat, dairy and co-products.
Additionally, increasing focus on animals’ health and quality of feed in terms of taste and nutritional value is set to fuel the market growth.
This is mainly due to the rising population and demand for poultry meat and eggs, especially in India and China.Selected / Sample Analysis done in the full Report:These are used at various stages in the meat production value chain.
Livestock producers use these animal feed additives in small doses to enhance and maintain overall health of the animal.It also prevents the livestock from various disease outbreaks and helps in increasing overall body mass of the animals.
The rising consumer awareness about the quality of food is playing a key role in driving significant growth for the market.Rapidly rising mass production of meat and meat products is an indicator of growing trend for landless meat production facilities.
