ANIMAL FEED ADDITIVES MARKET INSIGHTS
The global animal feed additives market size was valued at USD 27 billion in 2020 and is projected to reach USD 36 billion by 2026, representing a CAGR of 4.87% during the forecast period.
The global demand for animal-based protein is expected to grow by more than 50% over the next three decades. The growing awareness to maintain the overall health of domesticated animals and increase their productivity is surging the growth of the animal feed additives market. India, China, and Japan are the significant consumers of animal feed additives in the APAC region and accounted for a combined revenue share of USD 6,229.02 million in 2020. The growth of this market in the APAC region is due to the large livestock population and their growth rate. Companies should invest significantly in R&D activities, which ensure their success in the additives industry for the long term. The stringed food regulations have prompted farmers to feed their livestock better with natural and herbal additives. The natural products are expected to fuel the demand in the feed additives market during the forecast period.
- North America is one of the most significant markets and is the home to significant feed additives producers such as Cargill, Alltech, ADM, and Kemin Industries.
- The APAC region is home to huge animal farms. In 2020, The APAC region dominated the global poultry segment dominated the global market for 35.29%.
- By 2026, the global feed additives market will witness a significant change in the market share of eubiotics.
ANIMAL FEED ADDITIVES MARKET TRENDS & DRIVERS
- Nowadays, pet owners are very concerned about their pet health which is driving the demand for premium and organic pet foods in the animal food market.
- The recent advancements in molecular biology increased investments in livestock management, and the growing popularity of bio-engineering is driving the industry's R&D trend.
- In Brazil, the growing demand for cattle meat and increasing awareness about health and nutrition is driving the development of the industry.
- The high number of livestock populations and a large labor force drive the demand for dry additives in APAC.
ANIMAL FEED ADDITIVES MARKET SEGMENTATION
This research report includes a detailed segmentation by
- Product Type
INSIGHTS BY TYPE OF SPECIES
The global poultry livestock market is growing at a CAGR of 5.40% during the forecast period.
The growing population and increasing demand for nutritious food are gaining momentum in poultry farming across the globe. The use of feed additives in synthetic or natural additives is essential for success in poultry farming in terms of poultry health and production. The US is the world's largest producer of poultry and the second-largest exporter of poultry meat. This growth pattern is expected to continue as protein needs increase because of COVID-19 and ASF outbreaks across the globe. In China, sales of poultry additives increased due to an outbreak of African Swine Fever (ASF).
INSIGHTS BY PRODUCT TYPE
Amino acids are the most used feed additives and accounted for a 25.58% share.
Most of the poultry and pork consumed today are raised using feeds containing amino acids. Amino acids will become even more essential during the forecast period to ensure that animal production systems are environmentally sustainable and use limited natural resources. The APAC region has enormous potential and scope for amino acids, as many farmers are unaware of the benefits of amino acids. The global amino acid feed additives market is expected to reach USD 8,919.18 million by 2026.
INSIGHTS BY FORM
The global animal feed additives by form have been segregated by dry and liquid.
Liquid feed additives are highly palatable and increase their consumption among animals, which helps reduce feed wastage and labor cost. The US is expected to boost the demand for liquid feed during the forecast period.
The demand for dry feed additives is growing significantly at a CAGR of 6.04% during the forecast period. Agricultural products shops and animal farming shops are the key sales point. The rising awareness and animal farming camps will drive the demand for the dry form.
INSIGHTS BY GEOGRAPHY
The animal feed additives market in APAC is expected to reach USD 13,117.60 million by 2026. China will be the most extensive feed additives market in the APAC region, followed by India, Australia, Japan, and South Korea. The growing organized market for better animal farming techniques and various agrarian economies drives additives to demand in APAC. Swine additives hold a significant share in China, Japan, South Korea, the Philippines, Thailand, and Vietnam. Eubiotics will be the second-largest revenue contributor to the market in APAC at USD 1,465.70 million by 2026.
INSIGHTS BY VENDORS
The global feed additives market is intensely competitive. An increase in competition and business expansion will lead to vendors increasing their promotional and advertising expenses. Many players are expected to expand their presence worldwide during the forecast period, especially in the fast-developing countries in the APAC region, to gain more market share. Vendors will boost profitability through efficient production techniques that minimize production costs for meat products and mitigate associated risks in the upcoming years. Animal feed additives manufacturers have huge opportunities in APAC because of the increasing demand for premium foods for pets and meat.
The animal feed additives market research report includes an in-depth analysis of the industry analysis with market dynamics, SWOT analysis, competitive landscape, drivers, and restraints for the following segments:
Type of Species
- Aquatic Animals
- Other Species
- Amino Acids
- North America
- South Korea
- Latin America
- Saudi Arabia
- South Africa
- Middle East & Africa