Wilmington, Delaware, United States, Aug. 09, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The revenue of animal feed additives market is likely to surpass US$ 66.23 Bn by 2031. The global market is expected to rise at a CAGR of 5.2% during the forecast period, from 2021 to 2031. Amino acids are crucial for many biological functions, such as metabolism, food consumption, digestion, and also reproduction Methionine, one of the several forms of amino acids, is mostly employed in the poultry business, whereas lysine is utilized in the pork business. Extensive use of amino acids is likely to emerge as largest opportunity for animal feed additives market in the near future.
Large producers of animal feed additives are vying for certifications from reputable organizations that are in charge of protecting the welfare of animals and upholding high standards for food quality. The standards and quality of company's products could be raised, and their acceptance rate in various local markets could rise, by acquiring these certifications. This factor is a recent developments in the animal feed additives market.
Producers of animal feed additives from a variety of sources are increasingly shunning globalization trends in favour of a localized strategy that entails procuring raw ingredients from certain regions and countries. Many producers of feed additives are also building local distribution networks, which aids in insulating their companies from external influences and risky trade regulations.
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Key Findings of Market Report
- For an animal's physical and mental health, a balanced diet is essential. The global market for animal feed additives is driven by a growing understanding about the advantages of feeding farm animals a diet high in protein. Products that are high in minerals, vitamins, and proteins are known as feed additives. The need for feed additives to lower the likelihood of weight loss, illness, as well as infections in animals is being fueled by the constantly evolving animal diseases.
- In order to promote profitability, agricultural professionals and governments from many developing nations are working on putting measures into place to improve animal production and product quality via food. Feed additives increase production and quality of the by-products that animals generate while also contributing to the animal welfare.
- There is a growing need for nutritious food all over the world as a result of growing urbanisation and an increase in global population. Due to their extensive nutritional advantages, various products like eggs, fish, meat, milk, and other dairy products are becoming more and more popular. This is what fuels the market for animal feed additives. It has been observed that meat, dairy products, and poultry can help to strengthen immunity during pandemics. Meat and seafood segment is expected to emerge as fastest growing market for animal feed additives.
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Global Animal Feed Additives Market: Growth Drivers
- Animals are cared for by livestock farmers who provide them with a food that is high in nutrients. Due to the valuable proteins, minerals, and other nutrients these medicated feed additives provide, they are crucial for the development and growth of livestock animals. In the animal feed business, feed additives are being used more and more to generate the best output possible.
- The continuous R&D in animal nutrition is one of the key reasons likely to influence the rising demand for animal feed additives. Farmers are spending on animal feed additives to develop revenue possibilities as consumer demand for high-quality milk, meat, eggs, and milk-based products increases due to their nutritional advantages.
Global Animal Feed Additives Market: Key Players
Some of the key market players are
- Sumitomo Chemical Co., Ltd.
- Evonic Nutrition and Care GmbH
- Archer Daniel Midland Company
- DuPont de Nemours, Inc.
- Kemin Industries, Inc.
- Chr. Hansen Holding A/S
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Global Animal Feed Additives Market: Segmentation
Type
- Amino Acids
- Vitamins
- Phosphate
- Enzyme
- Mycotoxins
- Antibiotics
- Minerals
- Antioxidants
- Probiotics
- No-protein nitrogen
- Phytogenic
Source
- Plant
- Animal
- Microorganisms
Form
- Powder
- Granular
- Liquid
Livestock
- Ruminants
- Livestock
- Swine
- Aquaculture
- Pet Animals
By Regions
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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