September 22nd, 2022
The report "Feed Additives Market By Type (Amino acids, Phosphates, Vitamins, Acidifiers, Carotenoids, Enzymes, Mycotoxin detoxifiers, Flavors & sweeteners, Antibiotics, Minerals, Antioxidants, Non-protein nitrogen, Phytogenics, Preservatives, and Probiotics), By Livestock (Ruminants, Poultry, Swine, Aquatic animal, others (equine and pets)), and Region - Global Forecast to 2029".
Feed Additives market is projected to grow from US $36.20 Billion in 2020 to US$ 60.70 Billion by 2030. Rising incidence of food-borne zoonotic diseases is the major factor driving the target market growth. For instance according to cdc.gov zoonotic diseases are very common, around the world. Experts guesstimate that more than 6 out of every 10 known communicable diseases in people are spread from animals, and 3 from every 4 new infectious diseases in people are spread from animals. However, flaunching prices of raw materials such as maize, wheat, barley, and others and strict regulatory rules for feed additives hamper the market growth.
· In May 2019 ADM Animal Nutrition has opened a new Animal Nutrition Technology Center in Decatur, Illinois. This facility aims to innovation in Animal Nutrition, offering capabilities to enhance customer collaboration and develop fully-tailored nutrition solutions.
Key Market Insights from the report:
The global Feed Additives market accounted for US$ 36.20 billion in 2020 and is projected to register a moderate CAGR of 5.3% over the forecast period. The market report has been segmented based on by type, by livestock and region.
· By type global feed additives market is classified into amino acids, phosphates, vitamins, acidifiers, carotenoids, enzymes, mycotoxin detoxifiers, flavours & sweeteners, antibiotics, minerals, antioxidants, non-protein nitrogen, phytogenics, preservatives, and probiotics.
· By livestock, global feed additives market is classified into Ruminants, Poultry, Swine, Aquatic animal, others (equine and pets)
· By region, Asia Pacific is expected to dominate the target market. Owing to the population density and the growing demand for the livestock such factor boosting the growth for the target market. Additionally There development in the production facilities and risk-management in the livestock sector that's the result as an increase in the production of animal feed which has opened a countless of opportunities for the vendors that manufacture animal feed additives.
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The prominent player operating in the global Feed Additives market include BASF SE, Cargill, Inc., Archer Daniels Midland Company, Evonik Industries AG, Nutreco N.V., Addcon Group, Aliphos Belgium S.A., Kemin Industries Inc., Koninklijke DSM N.V., and Phibro Animal Health Corporation. Key players in the market are focusing on research and development and product launch.
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