The ‘global feed additives market size, share, growth, analysis, report and forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global feed additives market, assessing the market on the basis of its segments like sources, product types, livestock, forms, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the basis of SWOT and Porter’s Five Forces Models.
Feed Additives Market Size, Share, Price, Growth, Trends, Industry Report, Key Players, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
- Historical Market Size (2022): Nearly USD 69.26 Billion
- Forecast CAGR (2023-2028): 5.4%
- Forecast Market Size (2028): Around USD 94.27 Billion
The growing incidences of diseases in livestock, the rising demand for animal-based food, and the increasing health consciousness are driving the feed additives market growth. With evolving lifestyles and surging per-capita incomes, consumers are increasingly adopting protein-based diets, including meat products, which is fuelling the demand for feed additives.
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Farmers use feed additives in swine feed to enhance performance, regulate gut microbiota, and improve the reproductive health and productivity of swine. In addition, additives like antibacterial agents, growth promoters, probiotics, and acidifiers are increasingly added to swine feed for enhancing its nutritional and flavour profile.
The growing demand for non-antibiotic feed additives is prompting key players to offer feed additives that can lower the requirement for antibiotics, reduce costs associated with swine farming, and enhance sustainability.
Feed Additives Industry Definition and Major Segments
Feed additives refer to products that are used to enhance the flavour and nutritional profile and quality of animal feed. They improve the performance and productivity of animals while increasing the quality of food originating from animal sources. Feed additives are widely used to enhance the overall performance of ruminants, cattle, and poultry.
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The market, on the basis of source, is categorised into:
The various product types in the market are:
- Amino Acids
- Monocalcium Phosphate
- Dicalcium Phosphate
- Mono-dicalcium Phosphate
- Defluourinated Phosphate
- Tricalcium Phosphate
- Propionic Acid
- Formic Acid
- Citric Acid
- Lactic Acid
- Sorbic Acid
- Malic Acid
- Acetic Acid
- Mycotoxin Detoxifiers
- Flavours and Sweeteners
- Non-Protein Nitrogen
- Mould Inhibitors
- Anticaking Agents
- Essential Oils
- Herbs and Spices
- Stretococcus Thermophilus
By livestock, the feed additives market is segmented into:
- Dairy Cattle
- Beef Cattle
- Aquatic Animal
Based on form, the market is divided into:
The major regional markets of feed additives include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Feed Additives Market Trends
The rising attempts to improve the quality, quantity, and cost-effectiveness of animal products while boosting the overall health and performance of animals are fuelling the demand for animal feed additives. Moreover, surging concerns regarding the nutritional profile of animal feed and the growing attempts to customise animal feed formulations are favouring the animal feed additive market demand.
Increasing research activities to utilise innovative ingredients and advanced technologies aimed at developing innovative feed additive combinations are anticipated to aid the market in the forecast period. In addition, governments globally are introducing stringent regulations aimed at reducing the use of antibiotics and other harmful feed additives, which is expected to boost the development of new and natural feed additives.
Key Market Players
The major players in the feed additives market report are Cargill, Incorporated, Archer Daniels Midland Company, Evonik Industries AG, BASF SE, DSM, Biovet S.A., Chr. Hansen Holding A/S, Novozymes Group, Kemin Industries, Inc., Nutreco N.V., and International Flavors & Fragrances Inc., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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