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This research report on the global animal feed additives market covers sizing and forecast, share, industry trends, growth drivers, and vendor analysis. The study includes insights on segmentation by products (amino acids, antibiotics, eubiotics, enzymes, vitamins, minerals and others), species(Poultry, Cattle, Swine, Aquaculture, and Others (equine, and pet animals)), form type(liquid and dry), and geography (North America, Europe, APAC, MEA, and Latin America).
Animal Feed Additives Market: Dynamics
The application of phytobiotics is growing as they are considered natural, herbal, and beneficial for animal health
The global animal feed additives market is expected to witness moderate growth during the forecast period. The need to increase livestock productivity is one of the major reasons driving the market. Also, the growing awareness of animal well-being, sustainable farming, and proper nutrition is increasing the market growth. Poultry is the largest segment with APAC accounting for the largest market share for the segment. However, the aquaculture segment is expected to grow at the fastest CAGR during the forecast period. The demand for aquaculture feed additives is increasing in the US, Nordic, and South Africa.
The demand for sustainable nutrients, the consumption of antibiotic-free products, and the growing awareness of organic animal farming practices are other major catalysts for the changing animal feed industry.
The application of phytobiotics−plant based supplements− is growing as they are considered as natural, herbal, and effective for animal health. With the increasing awareness of the harmful effects of chemical supplements and nutrients, farmers are looking for natural and chemical-free products. The global animal feed additives market is expected to grow at a CAGR of over 5% during the period 2018−2024.
Animal Feed Additives Market: Segmentation
The research report includes detailed market segmentation by product, species, form, and geography.
Increased concerns over the use of antibiotics in animal supplements are likely to decline the market share of the antibiotic segment
While the amino acids segment accounts for the largest share of the market, the eubiotic segment is expected to grow at the highest CAGR during the period 2018−2024. Amino acids are one of the key nutrients used for the healthy well-being of livestock. Hence, the rise in environmentally sustainable products is an important factor for segment growth. The APAC market is expected to post an absolute growth of 34% by 2024.
Vitamins help in maintaining the expectancy and productivity of animals. Therefore, to improve growth, maintenance, and lactation of livestock, vitamins play a crucial part. The need to improve the livestock quality is expected to be a major driver for the vitamin segment during the forecast period.
The use of antibiotics is expected to decline during the forecast period. Increased concerns over the use of antibiotics in animal supplements on human beings are a major factor hindering the growth of the segment. However, antibiotics are increasingly getting replaced by organic and natural growth promoters.
Eubiotics constitute one of the important supplements. The ability of eubiotics to maintain the optimal balance of microflora to optimize nutrition absorption in the gastrointestinal tract of the livestock is a key factor augmenting the growth segment. Hence, the application of eubiotics helps in stabilizing the gut flora of poultry, pigs, and other animals, thereby improving health, growth, and food safety.
The increasing demand for milk and dairy products is likely to emerge as a key driver for animal nutrients market.
Poultry is the largest segment in the global animal feed additives market. The growing demand for high protein diets and the increasing population growth are augmenting well for the poultry segment. The market will be driven majorly by the US, China, Brazil, however, emerging economies are likely to be the fastest adopter of poultry supplements during the forecast period. Factors such as increased awareness of organic nutrients and the high demand for poultry products are likely to boost the growth.
APAC is the largest market for swine feed and accounted for a market share of approx. 35% in 2018. China, Japan, South Korea, the Philippines, and Vietnam are driving the demand for swine supplements in the region due to high swine meat production. The growing trend of antibiotic-free supplements and the demand for premium meat in the EU are boosting the demand for swine additives in the European market. The demand for increased productivity is driving farmers to apply enhancers in swine nutrients, thereby increasing the use of swine feed. While the swine meat export in Chile and Mexico is moderate due to export contraction, countries such as Brazil, Canada, and Vietnam, South Korea, Mexico, Colombia, and the Philippines are expanding due to the high demand.
The demand for milk and dairy products is continuously growing. Therefore, cattle must be provided with essentials minerals, trace elements, and health supplements. Normal supplements increase output; however, certain additives need to be added to increase productivity, efficiency, and overall health being. Hence, the increasing demand for milk and dairy products is likely to emerge as a key driver for animal feed additives.
Form Types Insights
The presence of a large livestock population is a key driving for the high demand for dry feed additives in the APAC region
Liquid form supplements are the largest segment in the global market. The demand is growing due to easy handling and mixing with supplements. They are excellent carriers and are nutrient-rich. Convenience and cost-effectiveness of liquid form nutrients are major factors boosting the growth of the market segment. While China, India, Indonesia, and Japan are the major markets for liquid form, the US is expected to boost the demand for liquid nutrients during the forecast period.
The increased demand for dry additives among livestock farmers is driving the segment. As dry nutrients are spill-proof and can be handled and stored easily, the demand is growing. The presence of a large livestock population is a key driving for the high demand for dry form nutrients in the APAC region. Further, the growing awareness of animal farming camps also will be fueling demand for dry products.
The high demand for high nutritional additives is increasing in the Europe market as livestock production is growing at a significant rate
APAC is the largest animal feed additives market globally. A large livestock population in the region is driving the demand in the region. Further, the increased awareness of advanced animal farming techniques is fueling the demand in the region.
Europe constitutes the second-largest market share globally. The growing demand for protein-rich food in the region is boosting the market. Further, the demand for high-quality nutrients is increasing in the Europe region as livestock production is growing at a significant rate.
North America is one of the major exporters and consumers of meat. The US accounted for more than 80% of the North America animal feed additives market in 2018. The growing demand for high-quality meat, sustainable animal farming, and increased export will drive the demand in the North America region.
Brazil, Mexico, Argentina are the key contributors to the market. High meat production, growing exports, and increasing nutrient costs are contributing to the growth in the region. However, factors such as poor infrastructure, supply chain challenges, occurrence of natural calamities, and poor harvest are likely to hamper the market growth during the forecast period.
Although MEA is the smallest market, it is lucrative for poultry nutrients as the consumption of poultry items is high in the region. Better infrastructure, animal hygiene, and growing investments in the feed sector are fueling growth in the region.
Key Countries Profiled
- Saudi Arabia
- South Africa
Key Vendors Analysis
The global animal feed additives market is consolidating and competitive as vendors are competing in terms of quality, innovation, and pricing. Thus, consumer choices and preferences differ from region to region and keep changing over time in response to geographical, demographic, and social trends, economic circumstances, and marketing efforts of competitors. Due to the highly competitive and volatile environment, the future growth mainly depends on the ability to anticipate, gauge, and adapt to the constantly changing trends and successfully introduce new or improved products in a timely manner. The market concentration is likely to grow, and global players operating in the market are expected to grow via non-organic strategies. New companies may lose shares because of the introduction of technologically advanced and innovative products from vendors with high promotional expenditure. Vendors also need to remain abreast with the upcoming products to have a competitive advantage over other vendors. An increase in competition and business expansion could lead to vendors increasing their promotional and advertising expenses as well as research and development costs, which may place pressure on their margins and affect their profitability.
- BASF Group
Other Prominent Vendors
- AB Vista
- Advanced Enzymes
- Boehringer Ingelheim
- Chr. Hansen
- Land O’ Lakes
Key Market Insights
The report provides the following insights into the market for the forecast period 2019–2024.
- Offers sizing and growth prospects of the market for the forecast period 2019–2024.
- Provides comprehensive insights on the latest industry trends, forecast, and growth drivers in the market.
- Includes a detailed analysis of growth drivers, challenges, and investment opportunities.
- Delivers a complete overview of segments and the regional outlook of the market.
- Offers an exhaustive summary of the vendor landscape, competitive analysis, and key strategies to gain competitive advantage.
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