Animal Feed Additives Industry Overview
The global animal feed additives market size was valued at USD 39.6 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 3.5% from 2022 to 2030.
This growth is attributable to the surging consumption of meat and animal-based products by consumers, the steadily increasing global population, and growth in the population of livestock.
Animal feed additives are an essential component of breeding livestock, as they help in disease prevention in animals, improve the rate of weight gain, feed digestion, vitamin intake & conversion, and in so doing improve the quality of the meat. These are extensively utilized globally as they are vital for maintaining the overall health of the livestock on a commercial as well as non-commercial scale.
Gather more insights about the market drivers, restrains and growth of the Global Animal Feed Additives Market
The U.S. has a significant meat-consuming population, which is increasing day by day; this is a major factor accountable for the increase in consumption of animal feed additives in the country. The U.S. has stringent rules and standards for the production of meat, which affects the global market directly. The animal feed additives industry is well-established and operated under strict regulations of authorities to maintain global standards. It is complementary to the animal feed and meat market and is significantly affected by changes in them.
Europe is the highest consumer of meat and therefore is a significantly larger consumer of animal feed additives. Similarly, the Asia Pacific region has the highest population growth with rising consumption. The accumulating demand for meat due to an increase in consumption and rise in the purchasing power of people is anticipated to drive the overall market.
Browse through Grand View Research's Animal Feed and Feed Additives Industry Research Reports.
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Market Share Insights
May 2019: BASF SE started operations for a new animal additives plant in China to cater to the increasing product demand in the Asia Pacific region.
Key Companies profiled:
Some prominent players in the global animal feed additives market include:
- AFB International
- Kemin Industries, Inc.
- Vitablend Asia Pacific Pte. Ltd.
- Kalsec, Inc.
- Ameri-Pac, Inc.
- BASF SE
- Evonik Industries AG
- FoodSafe Technologies
- Lallemand, Inc.
- Nutreco N.V.
- Biomin Holding GmbH
- Adisseo France S.A.S.
- Archer Daniels Midland
- Penny Newman
Order a free sample PDF of the Animal Feed Additives Market Intelligence Study, published by Grand View Research.