Global Feed Additives Market Research Report- Forecast till 2023
LONDON, Sept. 4, 2018 /PRNewswire/ -- Report Description
Market Scenario
High focus on R&D activities has resulted in the development of new and innovative feeding strategies. Incorporation of feed additives tends to stimulate gut development and health among the livestock. These further help in the production of quality animal products including milk, meat, eggs, and others. Escalating acceptation of animal feed by livestock farmers has a positive influence on the feed additives market, globally. Feeding livestock with appropriate feed additives is also identified to make them disease resistant.
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Increasing the population of livestock to cater to the significant demand for animal products from consumers is one of the major drivers for feed additives market. Rising awareness about health benefits of feeding animals with nutrient-rich feed is escalating the market demand for feed additives. New product developments, along with innovations in production techniques, are estimated to propel feed additives growth in the global market.
Regional Analysis
As per MRFR analysis, the global feed additives market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. Asia-Pacific is projected to retain its dominance throughout the forecast period, owing to the high population of livestock throughout the region. Asia-Pacific is estimated to account for a major market share of 35.80% in 2017. However, North America is projected to expand at the highest CAGR of 7.16% during the forecast period, 2017-2023.
Segments
The global feed additives market segmented into type, form, and livestock. Further, by region, it is segmented into North America, Europe, Asia-Pacific, and Rest of the World.
By type, the market is segmented into amino acid, vitamins, carotenoids, enzymes, prebiotic & probiotics, minerals, acidifiers, lipids, and others. The amino acid segment is dominating the market due to increasing demand for animal feed that enhances the protein in the animals. This segment is projected to grow at a CAGR of 5.88% during the forecast period.
By form, the market is segmented into dry and liquid. Among both, dry form of feed additives is projected to account for the maximum market share, at a CAGR of 5.83%, during the forecast period.
By livestock, the market is segmented into poultry, swine, ruminants, and others. The poultry segment dominates the market based on the increasing demand for poultry in the Middle East and Latin America. Moreover, it is the fastest growing segment at a CAGR of 6.18% over the estimated period, followed by the ruminants.
Key Players
The leading players profiled in the global feed additives market are Cargill Inc. (U.S.), BASF SE (Germany), Archer-Daniels-Midland Company (U.S.), Evonik Industries (Germany), Adisseo France SAS (France), Alltech, Inc. (U.S.), and Danisco A/S (Denmark).
Target Audience
Animal feed manufacturers
Feed manufacturing industry
Livestock industry
Raw material suppliers
Retailers and wholesalers
Traders, importers, and exporters
Key Findings
Asia-Pacific is estimated to retain its dominance throughout the forecast period and will grow at a substantial CAGR of 6.36%. Furthermore, among the Asia-Pacific countries, India is projected to witness a substantial growth of 8.26% during the forecast period of 2017-2023.
Global feed additives manufacturers find massive opportunity in China, owing to the huge demand for feed additives majorly for swine and poultry.
Regional and Country Analysis of Feed Additives Market Development and Demand Forecast to 2023 Market
As per the MRFR analysis, the global market for feed additives has been witnessing continuous demand during the forecast period owing to rising population of concerns about the livestock health among the consumers. The global feed additives market is expected to reach USD 39,432.9 million by the end of the year 2023 at a CAGR of 5.96% during the forecast period. Asia-Pacific is projected to dominate the market followed by Europe.
The reports also cover country-level analysis of:
North America
• U.S.
• Canada
• Mexico
Europe
• Spain
• Russia
• Germany
• France
• The Netherlands
• Italy
• U.K
• Rest of Europe
Asia-Pacific
• China
• India
• Japan
• Indonesia
• South Korea
• Rest of Asia-Pacific
Rest of the World
• Middle East
• Africa
• Latin America
Companies mentioned:
Cargill Inc. (U.S.), BASF SE (Germany), Archer-Daniels-Midland Company (U.S.), Evonik Industries (Germany), Adisseo France SAS (France), Alltech, Inc. (U.S.), Danisco A/S (Denmark)
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