Feed additives are used in animal nutrition to enhance the quality, properties of animal feed in order to boost features such as overall gut health/digestive performance, palatability preservation and others. Feed additives have gained importance globally, on account of improving the overall health of animal and quality and quantity of meat produced from them. For example, in poultry diets, feed additives are used to improve the birds laying capacity, feed utilization and disease prevention. Similarly, swine diet includes various natural and synthetic additives such as, acidifiers, high dietary levels of copper and zinc, phytase to boost the performance and profitability of swine feed.
The world animal feed additives market was evaluated at $18.0 billion in 2014 and is estimated to garner $27.9 billion by 2021, registering a CAGR of 6.5% over the forecast period 2015-2021. Increasing global meat consumption, industrialization of meat products and growing awareness of quality of dairy and meat products consumed are boosting the feed additives market growth. Increasing raw material costs may restrict the market growth as majority of additives such as feed acids, antioxidants and vitamins are extracted from natural sources encompassing seeds, tree barks, leaves, etc.
The world animal feed additives market is segmented based on types, livestock and geography. The type segment is further bifurcated into amino acids, feed enzymes, vitamins, minerals, feed acidifiers, antioxidants and binders. The demand for amino acids is increasing owing to its extensive application in feed additives. Amino acids are the main components of protein, since animals/livestock require continuous supply of protein in their diet; it is considered as essential component of animal feed.
Based on livestock, the market is segmented into swine, poultry, cattle, aquatic animals and others. In 2014, poultry emerged as a leading livestock segment for the consumption of feed additives, followed by swine and cattle owing to the growing demand for poultry meat, consumer taste preferences and rising disposable incomes in developing economies, mainly in China and India. Geographically, the world animal feed additives market is segmented into North America, Europe, Asia-Pacific and LAMEA. Asia-Pacific would provide lucrative growth opportunities until 2021, owing to considerable increase in feed production and rising awareness among the consumers regarding the quality of meat, dairy and related products in China and India.
Competitive intelligence on prominent manufacturers of feed additives provide key insights in terms of strategies implemented to gain significant share in the animal feed additives market. Cargill, Inc., BASF SE, and Alltech Inc. are leading players providing a wide range of feed additive products across all livestock sectors worldwide. The key players profiled in world animal feed additives market includes BASF SE, Cargill, Inc., Archer Daniels Midland Company, Novozymes A/S, Chr. Hansen Holding A/S, Alltech Inc., Evonik Industries AG, Charoen Pokphand Foods Public Company Limited, Nutreco N.V. and Adisseo France SAS.
KEY MARKET BENEFITS:
KEY MARKET SEGMENT:
The World Animal Feed Additives market is segmented as below:
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