Texas, Oct. 20, 2021 (GLOBE NEWSWIRE) -- Global Animal Feed Additives Market size is expected to reach USD 48.21 billion by 2027, according to new report by Qualiket Research, the market is expected to expand at a CAGR of 4.63% from 2021-2027. The increase in consumption of meat as a source of protein across the globe is expected to fuel the animal feed additives market growth throughout the forecast period.
Global Animal Feed Additives Market Major Companies
- AFB International
- Novozymes A/S
- Novus
- du Pont De
- Nemours and Company
- Lesaffre
- Nebraska Cultures, Inc
- Lallemand inc
- Cargil Incorporated
- BASF SE
- Elanco,Adisseo,
- Alltech
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Key players in the market engage in research and development activities to offer consumers with efficient products, which is expected to accelerate the demand for animal feed additives. Also, the key players re focusing on developing and expanding their existing product lines and global presence to strengthen their market presence. For instance, in March 2019, BASF had launched phytase Natuphos E which is an enzyme, when added to the feed, improves animal health.
Key Insights & Findings:
- By Type, polyester segment dominated the Animal Feed Additives Market and accounted for the largest revenue share in 2020, and is further expected to continue its dominance throughout the forecast period.
- Based on End Use, Veterinarians segment held the largest revenue share in 2020.
- In developed countries such as in the US, more than 66 percent of veterinarians work in private/corporate clinical work on, giving veterinary consideration to a changed scope of animal types.
- APAC emerged as the largest regional market for animal feed additives in 2020.
- The Asia Pacific region has experienced strong rise in demand on account of strong economic growth in emerging economies, such as China, and India.
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Qualiket Research has segmented the global animal feed additives market based on type, end-user, and region:
By Types
- Anti-Oxidants
- Antibiotics
- Feed Enzymes
- Feed Prebiotics
- Vitamins
- Minerals
- Amino Acids
- Fatty Acids
- Essential Oils
- Others
By End User
- Farms
- Households
- Veterinarians
- Zoos
- Animal Shelters
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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