Animal Feed Additives Market Size Worth $49,874.8 Million, Globally, by 2028 at 5.4% CAGR - Exclusive Report by The Insight Partners

NEW YORK, Jan. 12, 2022 /PRNewswire/ -- According to the new market research report "Animal Feed Additives Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Amino Acids, Vitamins, Carotenoids, Enzymes, Prebiotics And Probiotics, Minerals, Acidifiers, Lipids, And Others) and Livestock (Poultry, Ruminants, Swine, Aquaculture, and Others)", published by The Insight Partners, the global animal feed additives market was valued at US$ 34,583.5 million in 2021 and is projected to reach US$ 49,874.8 million by 2028; it is expected to grow at a CAGR of 5.4% from 2021 to 2028.

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Animal Feed Additives Market: Competitive Landscape and Key Developments

Cargill, Incorporated; ADM; Evonik Industries AG; Land O'Lakes, Inc.; Nutreco N.V; Alltech; DuPont de Nemours, Inc.; DSM; Novozymes; and Kemin Industries Inc. are among the prominent players operating in the global animal feed additives market. The players in the market are adopting mergers & acquisitions, research & development, and expansion strategies. For instance, ADM announced the opening of its new animal nutrition laboratory in Rolle, Switzerland. The lab will support the growth of science-based animal feed additives to meet customer needs for animal feed.

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The animal feed additives market is booming due to the growing livestock production across the world due to the increased consumption of meat and meat products. The growing feed production is further expected to benefit the market as additives are widely utilized in the feed manufacturing process. Numerous essential micronutrients are commonly added in feed to raise feed conversion ratio, which has resulted in a positive impact on the feed additives market due to growing demand from feed manufacturing players.

The Asia Pacific accounted for the largest share of the Animal Feed Additives Market in 2020. The region consists of developing countries such as China and India with a growing middle class possessing high disposable income. Consumers are therefore opting for a variety of food and beverages, including packaged meat products. Moreover, the increase in the number of health-savvy consumers is growing in the region resulting in demand for high protein products such as poultry meat. Therefore, the increased meat consumption in the region has led to a larger market share in the animal feed additives market.

Growing Livestock Production to Boost Market Growth:

The growing livestock production across the globe is expected to benefit the animal feed additives market over the forecast period as additives are widely utilized in feed for livestock. The rising demand for dairy products has resulted in growth in milk production and demand for ruminant feed. Moreover, the growing demand for packaged meat products, especially the post-COVID-19 pandemic, has positively benefitted the market as livestock production has witnessed a significant surge in demand from end-users. The market is therefore expected to benefit from the growing livestock production over the forecast period.

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Animal Feed Additives Market: Segmental Overview

By type, the animal feed additives market is segmented into amino acids, vitamins, carotenoids, enzymes, prebiotics and probiotics, minerals, acidifiers, lipids, and others. By livestock, the animal feed additives market is segmented into poultry, ruminants, swine, aquaculture, and others

Impact of COVID-19 Pandemic on Animal Feed Additives Market

The animal feed industry had been negatively impacted due to disruptions in manufacturing activities and the supply chain caused by the COVID-19 pandemic. However, over the forecast period, the pandemic is expected to positively affect the market as a result of increased precautions from animal feed manufacturers to prevent infections and animal-borne diseases. The ease in regulations concerning lockdown along with mandatory vaccination policies in countries across the world is expected to further help with the recovery phase of the global animal feed additives market.

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Specialty Feed Additives Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Type (Flavors and Sweeteners, Acidifiers, Antioxidants, Vitamins and Minerals, Amino Acids, Enzymes, Others); Form (Dry, Liquid); Livestock (Poultry, Ruminants, Swine, Aquaculture, Others) and Geography

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Organic Feed Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Source (Cereals and grains, Oilseeds, Forages, Fishmeal, Others); Form (Pellets, Crumbs, Mashes, Others); Livestock (Ruminants, Poultry, Swine, Aquaculture, Others) and Geography

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