Global Animal Feed Additive Market Worth Over 25 Billion in 2019

Posted by Lohitha on July 10th, 2019

Global Animal Feed Additive Market: Demand Analysis and Growth Forecast

Expanding World's populace requires more and more animal-based products including meat and dairy, however, for which the animals are to be fed healthily. An animal feed additive is a food supplement that improves hygiene, digestibility, and presentation, and the awareness is improving across emerging economies and thereby stroking the global animal feed additive market. The IndustryARC’s analyst has valued the global animal feed additive market at ,126 million as of 2018 and projected the demand to grow at a compound annual growth rate (CAGR) of 3.8% during the forecast period of 2019 to 2025. Animal feed plays a vital role in the global food industry and the abundance of livestock is also influencing the animal feed additive market. According to FAO Animal Production and Health, it is estimated that currently there are 8,000 plants for feed production with capacities greater than 25,000 tons a year. Furthermore, these plants together produce more than 620 million tons of feed products annually. The increasing demand for livestock from farmers and the millennial population is accumulating the global animal feed additive market.

The IndustryARC report is titled “Animal Feed Additive Market: By Species (aquaculture, poultry, ruminants, swine, pets, equine); By Type (zootechnical additives, nutritional feed additives, sensory feed additives, Coccidiostats and histomonostats, sugar-based products, direct-fed microbial); By end users (farms, households, veterinarians, zoo, animal shelters); By Geography - Forecast (2018-2023)”.

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Global Animal Feed Additive Market: Leading Segment

APAC anchorages to the largest share for the global animal feed market owing to the surge in the consumption of meat products and increasing concerns over meat quality. Furthermore, the global industrialization of meat products bolsters demand growth. In a region like APAC, the government and various start-ups have started investing since the demand has started to influence growth prospects in the market. APAC had a regional share of 37% as of 2018. Countries such as India, Malaysia, Singapore, Thailand, and Indonesia are experiencing massive growth in the poultry-livestock production across the APAC belt. Singapore has the maximum production of animal husbandries such as pigs and poultry and also a small number of cattle, goat, duck, and quail. The key application poultry industry is estimated to grow at a CAGR of 4.5% during the forecast period.

Global Animal Feed Additive Market: Market Trends and Growth Drivers
Global animal feed additive market has been experiencing continuous growth for a decade. A few of these growth drivers and trends are mentioned below:

· Organic Animal Feed Additive Market
According to the section 205.237 of the National Organic Program (NOP) final rule, the organic feed for all organic livestock should be 100% which means that all the agricultural components of the ration should be certified organic. Even the crop producers who grow livestock feed for sale to organic livestock should be certified. This is to say that there is a palpable emphasis on the organic animal feed which happens to be one of the major growth drivers for the animal feed additive market.

· Animal Feed Additive Market for Sustainability

Global leaders are playing a vital role in the sustainability process in the animal food system. To ensure that the system for today and tomorrow work efficiently, the innovative ideas have to be implemented. Cargill, a conglomerate company, has taken an initiative to support sustainability on a large scale. They have started to focus more on the land used, water resources, climate change, and farmer livelihood, this will increase the demand for animal feed in the market.

· Phytogenic Feed – Antibiotic-Free Animal Nutrition

Companies have now started using phytogenic feed additive which is a mixture of herbs, spices, other plants, and their extracts. It contains more than 100 natural ingredients that help to improve nutrient utilization and increase the enzymatic activity in the intestine. Owing to the benefits, phytogenic feed will observe a heavy demand in the animal feed additive market.

Global Animal Feed Additives Market: Recent Developments
Some of the key companies identified in the report that are currently holding majority shares in the global animal feed additive market are Cargill, Incorporated, Chr. Hansen A/S, E. I. du Pont de Nemours and Company, Lallemand Inc., Lesaffre, Nebraska Cultures, Inc., Novozymes A/S, Novus, AFB International, and Alltech.

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