Wilmington, Delaware, United States, Dec. 07, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - A recent study by Transparency Market Research shows that the market for animal feed additives was valued at US$ 40 billion in 2021. The market is expected to reach US$ 66.23 billion by 2031, at a CAGR of 5.2% during the forecast period.
Sustainable feed additives are being developed through various research and development efforts. Developing a sustainable way of producing food is imperative with global warming and a growing population. Waste and by-products can be used as animal feed, helping to reduce waste land-filling and burning, as well as providing nutritional benefits to the animals.
For instance, an academic team from the State Agrarian University of the Northern Trans-Urals has revealed the results of their study on the development of feed additives from potato cake and brewer's grains.
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Key Findings of Market Report
- Based on type, vitamins are forecast to account for 60.8% of the market, while amino acids are forecast to expand at a value CAGR of 4.3%
- The volume of additives sourced from plants is expected to reach 16,732,553 tons in 2021 and 26,267,937 tons by 2031, representing a 4.6% CAGR.
- The microorganism segment is expected to experience a substantial CAGR of 7.3% over the forecast period.
- Based on form, the powder segment will likely reach US$ 37,008.5 million by 2031.
- The poultry segment held a 44.8% market share in 2021.
Global Animal Feed Additives Market: Growth Drivers
- Growing meat consumption is driving the market for animal feed additives. The rising population size and shifting dietary preferences drive greater demand for animal products, increasing livestock production and improving animal health and performance.
- The livestock industry is increasingly concerned with the nutrition and health of its animals. Adding feed additives to feed improves feed quality, enhances digestibility, and promotes healthy growth for animals.
- Regulatory oversight of animal feed additives ensures the safety and quality of foods from animals. Additives for feeding must be evaluated scientifically and approved for being marketed. Regulation compliance and safety make approved and safe feed additives highly desirable.
- Technological advancements and innovative feed additive solutions have resulted from ongoing research and development in the animal feed industry. To enhance performance, health benefits, and sustainability, manufacturers are always developing new and improved feed additives. In addition to contributing to market growth, these advancements attract consumers' interest.
- Economies of scale and efficiency have contributed to the industrialization of meat production, increasing demand for feed additives. Feed additives are used in large-scale livestock operations to boost animal growth, increase feed efficiency, and reduce diseases.
Global Animal Feed Additives Market: Regional Landscape
- North America is expected to lead the market for animal feed additives. Livestock production is expected to increase dramatically in the United States and Canada in the coming years, driving the market. Safe animal feed alternatives sales might be driven by government regulations regarding meat quality and additives in animal feed.
- American Feed Industry Association (AFIA) supports legislation that will allow the US Food and Drug Administration (FDA) to evaluate feed additives and foster innovation in the livestock industry. By amending the Federal Food, Drug, and Cosmetic Act in 2023, the Innovative Feed Enhancement and Economic Development Act would create a new regulatory pathway for animal food substances that provide non-nutritive benefits solely within animal gut microbiomes or in feed they digest.
- The presence of mills and pet food manufacturers will boost product demand. The meat industry will continue to expand as consumers become more health-conscious and meat consumption per capita increases. The availability of raw materials, such as corn and dextrose, will also contribute to the market's growth.
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Global Animal Feed Additives Market: Key Players
Animal feed additive manufacturers are keen to receive quality certifications from internationally recognized independent agencies responsible for ensuring animal safety and quality. As a result, companies will be in a better position to enhance the quality and reliability of their products and make them suitable for different regional markets.
- Archer Daniel Midland Company
- BASF SE
- Koninklijke DSM N.V.
- Megamix LLC
- Evonic Nutrition and Care GmbH
- Ajinomoto Co. Inc.
- Solay
- Novozymes
- Kemin Industries Inc.
- Nutreco
- Adesseo
- Bioseutica
- Alltech Inc.
- Sumitomo Chemical Co., Ltd.
- Novus International
- Chr. Hansen Holding A/S
- Cargill, Incorporated
- DuPont de Nemours Inc.
Key Developments
- In November 2023, Entobel opened its new black soldier fly (BSF) production plant in Vietnam, the largest of its kind in Asia. It is Entobel's second industrial-scale production facility in Vietnam, backed by US$ 33m Series B financing raised in 2022.
- In December 2023, Amlan International, an animal health division of Oil-Dri Corporation of America and the world's leading producer of mineral-based feed additives that promote poultry and livestock intestinal health, announces a new distribution partnership with Saigon Nutrition Corporation that will expand its presence in Southern Vietnam.
Global Animal Feed Additives Market: Segmentation
By Type
- Amino Acids
- Tryptophan
- Lysine
- Methionone
- Threonine
- Vitamins
- Water Soluble Vitamin
- Vitamin A
- Vitamin D
- Phosphate
- Enzyme
- Phytase
- Non-Starch Polysaccharides
- Mycotoxins
- Antibiotics
- Minerals
- Antioxidants
- Probiotics
- No-protein nitrogen
- Phytogenic
By Source
- Plant
- Animal
- Microorganisms
By Form
- Powder
- Granular
- Liquid
By Livestock
- Ruminants
- Livestock
- Swine
- Aquaculture
- Pet Animals
By Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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