Feed Additives Market Opportunities, Business Forecast To 2028
The global feed additives market size was valued at USD 38.3 billion in 2021 and is poised to grow at a significant CAGR of 5.7% during the forecast period 2022–2028. Malnutrition and vitamin deficiencies caused by nutrient inadequacies in animal feed harm the growth and development of the animals, and in certain severe situations, they can even cause fatalities and irreparable health problems. The lack of critical minerals and vitamins in animal feed due to farming methods that aim to optimize productivity highlights the demand for high-value animal feed additives. In addition, the need for high-quality food products has prompted farmers to use sustainable agriculture techniques. Since animal substance misuse is a crime, the cattle business is particularly under pressure to adopt ethical animal breeding procedures. A nutritious diet increases the output of animals while also enhancing the quality of final products like milk and eggs. Producers of animal feed additives are actively investing in research and development to create nutrient-rich animal feed additives since animals are susceptible to what they consume.
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The global feed additives market segmentation:
1) By Type: Amino acids, Phosphates, Vitamins, Acidifiers, Carotenoids, Enzymes, Mycotoxin Detoxifiers, Flavors & Sweeteners, Antibiotics, Minerals, Antioxidants, Non-protein Nitrogen, Phytogenics, Preservatives, and Probiotics.
2) By Livestock: Poultry, Ruminants, Swine, Aquatic animals, and Other Livestock.
3) By Form: Dry and Liquid.
4) By Source: Synthetic and Natural.
Amino Acid Segment to Dominate the Feed Additives Market
The amino acid segment is expected to account for a larger revenue share in the global feed additives market, with a value share worldwide. It is projected to grow at a 5.9% CAGR between 2022 and 2028. Animals benefit from the growth-supporting and disease-prevention qualities of amino acids. They include, among other things, lysine, methionine, and cysteine. They play a crucial role in protein synthesis and guard animals against illnesses like herpes. Such elements make the usage of amino acids as an addition extremely vital. The demand for amino acids is expected to increase during the projection period due to a general scarcity of amino acids in cattle and growing worries about animal tissue disintegration.
Asia Pacific Feed Additives Market
The Asia Pacific market is expected to increase in the global feed additives market over the forecast period. It is projected to grow at a CAGR of 6.1% in the coming years. The presence of a sizable cattle population and their growth rate drives the market in the area. In addition, the region has seen a growth in the number of feed mills and feed output, especially in nations like India and Japan. The region's increased feed production is reflected in the rise in the number of feed mills there. Thailand and Indonesia are the developing feed-producing nations, while India and Japan show consistent development in feed production. China, the region's largest feed producer, dramatically contributes to the region's leadership position.
The global feed additives market further reveals that the key players are increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gain significant geographic presence across the region. For instance, In February 2021, Alltech and DLG Group came together to focus on delivering profitability and efficiency to livestock producers in Scandinavia. Both the companies are finalizing the purchase of the Finnish company, Kärki-Agri. In November 2020, Evonik expanded its customer service offering for its animal nutrition customers by introducing a new digital portal called ‘myAMINO.’ Through this portal, the company has brought together its digital customer activities and services and added two web stores. It would help the company to strengthen its animal nutrition business.
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Key players in the feed additives market report are AFB International, Alltech, Kemin Industries, Inc., Vitablend Asia Pacific Pte. Ltd., Kalsec, Inc., DSM, Ameri-Pac, Inc., BASF SE, Evonik Industries AG, FoodSafe Technologies, Lallemand, Inc., DuPont.
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