Feed additives are substances added to animal feed to improve the nutritional value, palatability, and safety of the feed, as well as the health and productivity of the animals. Feed additives can be classified into several categories, including vitamins, minerals, amino acids, enzymes, antioxidants, probiotics, and antibiotics.
The Feed Additives Market is expected to grow from USD 36.20 billion in 2020 to USD 60.70 billion by 2030, at a CAGR of 5.3% from 2020 to 2030. The growth of the market is attributed to several factors, including increasing demand for meat and poultry products, rising awareness of the benefits of feed additives, and growing focus on animal welfare.
Get a Free Sample of the report
https://www.prophecymarketinsights.com/market_insight/Insight/request-sample/4034
Market Segmentation
- By Type: Amino acids, Phosphates, Vitamins, Acidifiers, Carotenoids, Enzymes, Mycotoxin detoxifiers, Flavors & sweeteners, Antibiotics, Minerals, Antioxidants, Non-protein nitrogen, Phytogenics, Preservatives, and Probiotics
- By Livestock: Ruminants, Poultry, Swine, Aquatic animal, others (equine and pets)
- By Region: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
Market Trends
Some of the key trends driving the growth of the feed additives market include:
- Increasing demand for meat and poultry products: The increasing demand for meat and poultry products is driving the growth of the feed additives market. Feed additives help to improve the growth and productivity of animals, which enables farmers to meet the growing demand for meat and poultry products.
- Rising awareness of the benefits of feed additives: Farmers are becoming increasingly aware of the benefits of feed additives, such as improved feed efficiency, increased weight gain, and reduced mortality rates. This is driving the demand for feed additives in the market.
- Growing focus on animal welfare: There is a growing focus on animal welfare in the agriculture and livestock sectors. Feed additives can help to improve the health and well-being of animals. This is driving the demand for feed additives in the market.
Key Players
The key players operating the global Feed Additives market involves 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., and Phibro Animal Health Corporation. Key players in the market are focusing on research and development and product launch. For example, BASF has launched the next generation phytase, Natuphos® E, for the feed industry in Indonesia. Natuphos E, poultry can better utilize nutrients such as phosphorus, calcium, amino acids and energy. The new enzyme not only promotes healthy growth in animals but also reduces phosphorus emissions from livestock.
Get a Free PDF of the report
https://www.prophecymarketinsights.com/market_insight/Insight/request-pdf/4034
Conclusion
The feed additives market plays a pivotal role in modern livestock production, ensuring the efficient and sustainable utilization of feed resources while promoting animal health and productivity. As the global demand for meat and dairy products continues to rise, the market is expected to expand further. Industry players are focusing on research and innovation to develop safer, more effective, and sustainable feed additive solutions. The future of the feed additives market will be shaped by advancements in animal nutrition, changing regulatory landscapes, and the growing awareness of the importance of animal welfare and sustainable agriculture.
Related Reports
About Us
Prophecy is a specialized market research, analytics, marketing and business strategy, and solutions company that offer strategic and tactical support to clients for making well-informed business decisions and to identify and achieve high value opportunities in the target business area. Also, we help our client to address business challenges and provide best possible solutions to overcome them and transform their business.
To know more
Contact Us:
Sales
Prophecy Market Insights
📞+1 860 531 2574
✉ Email– sales@prophecymarketinsights.com
🌐 Website- www.prophecymarketinsights.com
🌐 Blog- www.prophecyjournals.com
Follow us on: