Fort Collins, Colorado, Sept. 21, 2023 (GLOBE NEWSWIRE) -- DataHorizzon Research Published a report titled, "Feed additives Market Size, Growth, Share, Statistics Report, By Product (Antibiotics, Vitamins, Antioxidants, Amino Acids, Others), By Livestock (Pork, Poultry, Cattle, Others), By Form, By Type, By Region Forecasts, 2023-2032.”
According to DataHorizzon Research, The feed additives market size was valued at USD 39.9 Billion in 2022 and is anticipated to reach USD 68.8 Billion by 2032 with a CAGR of 5.7%. The report comprehensively analyzes the global market scenarios with key takeaways. The report also highlights the present and future trends in the industry, followed by actionable market insights.
The rise in global meat consumption is a major factor influencing market growth. Approximately 360 tons of meat is consumed globally each year, and this demand is expected to increase immensely in the coming years. This increased demand is met by feeding high-quality feed such as wheat, maize, and soya to poultry and pigs. These ingredients are also witnessing a rise in demand from the biofuels industry due to their increased utilization for producing energy and biofuels. Thus, feed additives are added to the feeds to improve the development efficiency of poultry and pigs and the quality of animal products such as meat, milk, and eggs, increasing market demand.
The ban on the use of antibiotics in aquaculture is also expected to boost market growth for other types of feed additives. In aquaculture, antibiotics are often used to treat and prevent the occurrence of diseases. In addition, various substitute feed additives such as phytogenics, probiotics, microbial & fungal enzymes, mycotoxin binders, and others are used as a substitute for antibiotics to improve the immune system, increase antimicrobial action, and enhance the health of aquatic animals. This factor is expected to contribute to market growth.
The market's key players follow various strategies such as new product development, process optimization, mergers, and acquisitions to expand their consumer base. In June 2022, Cargill acquired Delacon. The acquisition aimed to integrate Delacon’s phytogenic feed additives technology with Cargill’s animal nutrition technologies to produce improved feed additives.
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Report Snapshot:
| Report Title | Feed additives Market |
| Market Size in 2022 | USD 39.9 Billion |
| Market Size by 2032 | USD 68.8 Billion |
| CAGR from 2023 to 2032 | 5.7% |
| Largest Market | Asia Pacific |
| Forecast Period | 2023 to 2032 |
| Historic Period | 2021 |
| Base Year | 2022 |
| Report Scope & Coverage | Market Size, Market Estimations, Competitor Analysis, Trends and Growth Factors |
| By Product | Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers and Others |
| By Livestock | Pork/Swine, Poultry, Cattle, Aquaculture and Others |
| By Form | Liquid and Dry |
| By Type | Synthetic and Natural |
| Region | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa |
| Countries Covered | U.S., Canada, U.K., Germany, France, China, Japan, India, South Korea, Brazil, Mexico, UAE, Saudi Arabia and South Africa |
| Major Market Players | Cargill, BASF, ADM, Evonik, NUQO Feed Additives, Dupont, DSM, Hong Ha Nutrition, Kemin Industries, Inc., Palital Feed Additives B.V., ANOVA Group, BIOMIN Holding GmbH, Chr. Hansen Holding, Ajinomoto, Novozymes and Alltech, Inc. |
Segmentation Overview:
The global feed additives market has been segmented into product, livestock, form, type, and region. Amino acids are leading in the feed additive market owing to the livestock’s health and well-being. Based on livestock, poultry dominated the global market owing to high demand in the end-user market.
Asia Pacific is the leading region for the feed additives market owing to the wider availability of food for livestock, favorable climate, and the emergence of livestock feed startups with digital measures. Europe is a fast-growing market based on stringent regulations by the government and a high demand for organic additives.
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Feed Additives Market Report Highlights:
- The global feed additives market size is anticipated to reach USD 68.8 billion by 2032.
- The growing awareness for healthy livestock determines the feed additives market growth.
- Amino acids are the leading products owing to their significance to animal health. On the other hand, poultry dominated the livestock type. The growth factors are attributed.
- Asia Pacific is a significant region for the feed additives market, and the growth factors are attributed to the increasing use of additives and the preference for organic feed additives.
- Some of the prominent players in the feed additives market report include Cargill, BASF, ADM, Evonik, NUQO Feed Additives, DuPont, DSM, Hong Ha Nutrition, Kemin Industries, Inc., Palital Feed Additives B.V., ANOVA Group, BIOMIN Holding GmbH, Chr. Hansen Holding, Ajinomoto, Novozymes and Alltech, Inc.
Key Developments in the Industry:
- A recent article published by Agriland. ie highlights how seaweed feed additives can reduce methane emissions by 10%. Teagasc researchers developed a seaweed feed additive for livestock that has minimal effects on cattle health but cuts methane emissions.
- Chestnut tannins have emerged to become an organic alternative to synthetic feed additives for cattle. The inclusion of plant extracts in feed supplements can enhance animal health and dairy production.
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Feed Additives Market Report Segmentation:
Feed Additives Market, By Product (2023-2032)
- Antibiotics
- Vitamins
- Antioxidants
- Amino Acids
- Feed Enzymes
- Feed Acidifiers
- Others
Feed Additives Market, By Livestock (2023-2032)
- Pork/Swine
- Poultry
- Cattle
- Aquaculture
- Others
Feed Additives Market, By Form (2023-2032)
- Liquid
- Dry
Feed Additives Market, By Type (2023-2032)
- Synthetic
- Natural
Feed Additives Market, By Region (2023-2032)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- France
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
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