Westford, USA, Nov. 27, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that the global animal feed additives market size will reach a value of USD 58.82 Billion by 2031, with a CAGR of 4.3% during the forecast period (2024-2031). This is mostly due to increased production of animal feed as a result of global meat consumption, which is predicted to increase product consumption. So, there are still some good expansion prospects in the future with the onsite increase in the requirements for sustainable feed additives. The world's meat consumption has been increasing as population continues to increase and wealth grows-it also changes eating patterns particularly in low- and middle-income countries.
Browse in-depth TOC on the "Animal Feed Additives Market"
Pages – 163
Tables – 95
Figures – 76
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Animal Feed Additives Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 43.81 Billion |
| Estimated Value by 2031 | USD 58.82 Billion |
| Growth Rate | Poised to grow at a CAGR of 4.3% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Source, Form, Livestock, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | More focus on eco-friendly and sustainable practices |
| Key Market Opportunities | Rising focus on animal welfare |
| Key Market Drivers | Increased meat intake |
Synthetic Source to Hold Significant Growth due to Cost-Effectiveness & Consistent Quality
The dominance of synthetic sources in the global animal feed additives market is driven by their cost-effectiveness, consistent quality, and scalability. These features serve a purpose of mass production to cater to the increasing demand for livestock nutrition. Synthetic additives supply specific nutritional compositions to ensure the highest state of animal health and productivity. This results in their commercial acceptance of natural alternatives and synthetic sources that provide a reliable solution, aligning with current the global animal feed additives market trends.
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Liquid Form to Lead Market due to Ensuring Uniform Nutrient Distribution
Liquid form dominates the global animal feed additives market due to its ease of mixing in feed and water, ensuring uniform nutrient distribution. This is how application happens through less labor for costing equipment. Further, liquid additives show better absorption rates in animals, translating into improved feed efficiency and sustaining its favoring trends in the global animal feed additives market forecast compared to dry forms.
Asia Pacific to Dominate Market due to Rising Meat Consumption and Population Growth
Asia Pacific dominates the global animal feed additives market due to its expanding livestock industry, driven by rising meat consumption and population growth. Fast burgeoning cityscapes and more rising disposable incomes fuel high demand for premium animal protein consumption. Apart from these, the increase in livestock productivity and health is among other government initiatives, motivating further usage of additives, with a positive global animal feed additives market forecast.
Animal Feed Additives Market Insight
Drivers:
- Rising Demand for Animal Protein
- Focus on Livestock Health and Productivity
- Expanding Livestock Industry
Restraints:
- Premium Prices for Specialized Additives
- Complex Regulatory Frameworks
- Presence of Numerous Small-Scale Producers
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Prominent Players in Animal Feed Additives Market
- BASF SE
- Cargill, Inc.
- Archer Daniels Midland Company
- Evonik Industries AG
- Nutreco N.V.
- Addcon Group
- Aliphos Belgium S.A.
- Kemin Industries Inc.
- Koninklijke DSM N.V.
- Phibro Animal Health Corporation.
- ADM
- DSM
- Elanco
- Alltech, Inc.
- BIOMIN Holding Gmbh
Key Questions Answered in Global Animal Feed Additives Market Report
- What is the projected market size and growth rate (CAGR) of the global animal feed additives industry by 2031?
- Why does the Asia Pacific region dominate the market?
- What advantages make synthetic and liquid forms of animal feed additives significant in the market?
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This report provides the following insights:
Analysis of key drivers (Consumer preference for organic meat, rise in compound feed production, policies promoting sustainable animal farming), restraints (Limited adoption in developing regions, geopolitical tensions & natural disasters) opportunities (Shift toward sustainable farming, growing demand for enzymes) influencing the growth of animal feed additives market.
- Market Penetration: Comprehensive information on the product portfolios offered by the top players in the animal feed additives market.
- Product Development/Innovation: Detailed insights on the upcoming trends, R&D activities, and product launches in the animal feed additives market.
- Market Development: Comprehensive information on lucrative emerging regions
- Market Diversification: Exhaustive information about new products, growing geographies, and recent developments in the market
- Competitive Assessment: In-depth assessment of market segments, growth strategies, revenue analysis, and products of the leading market players.
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