NEW YORK, Jan. 12, 2016 /PRNewswire/ -- The feed additives market is gaining momentum over the last few years and this trend is projected to continue. The market was valued at USD 17.4 billion in 2014 and is projected to reach USD 21.8 billion by 2020, at a CAGR of 3.9%. The market is driven by factors such as increase in global meat consumption, threat of diseases in livestock, increase in awareness of quality feed, industrialization of livestock industry, and the environmental impact of the meat and dairy industry. The high growth potential in developing markets, advanced technology, and increase in demand for natural feed additives provide opportunities for emerging market players.
Poultry dominated the feed additives market, by livestock, and was valued at USD 5,842.6 million in 2014. By type, the amino acids segment dominates the market and accounted for a share of about 24.7% in 2014. The market is an emerging one, with key market players driving growth with new product developments, expansions, acquisitions, and investments to enhance their position. The market is competitive with the leading players being involved in the research & development of feed additives products to attain sustainability.
The global feed additives market is segmented on the basis of livestock. The key livestock considered for the research are swine, poultry, cattle, aquatic animals, and others. The key players in this market are Cargill Incorporated (U.S.), BASF SE (Germany), Evonik Industries AG (Germany), and Archer Daniels Midlands (U.S.).
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