ALBANY, New York, August 11, 2016 /PRNewswire/ --
The global animal feed additives market is expected to progress at a CAGR of 4.3% within a forecast period from 2015 to 2021, in terms of revenue. By the end of 2016, this market is expected to be valued at US$4.79 bn. By the end of 2021, this market is expected to be valued at US$5.92 bn.
Asia Pacific is expected to be the region with the highest demand for animal feed additives for ruminants from 2015 to 2021. By the end of 2021, this region is expected to generate US$1.9 bn in revenue from animal feed additives for ruminants.
Amino acids are expected to be the top product type among all animal feed additives for ruminants for the time being. By 2021, this segment is expected to take up a share of 20.39% in revenue. This is, however, a reduction in revenue share as compared to its 2014 percentage, due the growth in demand for other segments such as feed enzymes, choline chloride, and organic acids.
The information presented in this review is based on a Transparency Market Research report, titled, "Animal Feed Additives Market for Ruminants - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021."
Browse Research Report with ToC & Free Analysis: http://www.transparencymarketresearch.com/animal-feed-additives-market.html
Amino Acids and Vitamins to Retain High Demand
Vitamins and amino acids were the two largest types of animal feed additives for ruminants in demand in 2014. They are expected to continue generating top demand till 2021, at which point their revenue shares are expected to be 20.39% and 15.64% for amino acids and vitamins respectively. The most common vitamins used in animal feed additives for ruminants include vitamins A, E, B, and C.
Amino acids are a key ingredient in all animal feed additives because they help develop the quality as well as quantity of the meat. Lysine is the most commonly used amino acid in feed additives, followed by methionine.
Growing Global Population Demands More Meat and Dairy, Increases Scope of Animal Feed Additives Use
"The demand for animal-derived foods such as meat and dairy is increasing across the world," states a TMR analyst. "This is pressuring the animal husbandry industry to increase the count of animals maintained as well as the yield of products. In the case of ruminants, more specifically cattle, animal feed additives can go a long way in maintaining the health of the animal as well as the food product."
Dairy is the key product derived from animals in demand across the world currently, followed by meat. Both products are being subjected to an increasing amount of quality checks and consumption safety queries due to a rising level of awareness among consumers. As a result, animal feed additives also include the use of products that can help improve the immunity of an animal and prevent it from falling ill.
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Over half of the revenue from animal feed additives for ruminants in 2014 was taken up regional players. In this fragmented market, DSM, BASF, Danisco, and Elanco were the top players with a collective revenue share of 48.5% in 2014.
According to Transparency Market Research, vitamins, minerals, feed enzymes, and amino acids are the most commonly produced animal feed additives for ruminants within the above key players. DSM, the leading provider in the world, specializes in vitamins, minerals, and feed enzymes. BASF holds a more diverse portfolio and includes trace minerals in its product profile.
Most of Animal Feed Additives for Ruminants Continues to be taken up by Cattle
Cattle were the leading animal type in terms of demand for animal feed additives for ruminants in 2014. By 2021, cattle are expected to take up 80.80% of the total animal feed additives revenue generation. Owing to the high demand for cattle meat and dairy across the world, the improvements in cattle feed additives is expected to generate large amounts of demand as well. This is drawing a greater number of players towards this sector and allowing them multiple opportunities of expansion.
Another key reason for the growing demand for animal feed additives for cattle is the growing concern over the health of the cattle and consequently, the quality of the meat and the health of the consumer.
- Amino acid animal feed additives for ruminants are expected to gross US$1.2 bn in revenue by 2021.
- US$4.8 bn expected to be used on animal feed additives for cattle by 2021.
- Vitamins as animal feed additives for ruminants are expected to reach US$926 mn in revenue by 2021.
Key Segments of the Global Animal Feed Additives Market for Ruminants
Animal Feed Additives for Ruminants, By Type
- Probiotics and prebiotics
- Choline chloride
- Organic acids
- Poly unsaturated fatty acids
- Immune modulators
- Amino acids
- Feed enzymes
Animal Feed Additives for Ruminants, By Ruminants Type
Animal Feed Additives for Ruminants, By Region
- North America
- Asia Pacific
- Rest of the World
Browse Other Research Reports:
- Gluten Free Food Market: http://www.transparencymarketresearch.com/gluten-free-products-market.html
- Omega 3 Ingredients Market: http://www.transparencymarketresearch.com/global-omega-three-market.html
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SOURCE Transparency Market Research