Driving Agricultural Innovation: Actionable Tactics for the 6.9%...

Driving Agricultural Innovation: Actionable Tactics for the 6.9% CAGR Animal Feed Additive Market Growth by 2034

Posted 2024-04-16 12:07:21

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The Animal feed additives market is projected to increase from US$ 55,842.2 million in 2024 to US$ 109,184.5 million in 2034. The market is anticipated to surge at a CAGR of 6.9% by 2034.

The increased production of livestock has raised concerns about public health issues related to the use of antibiotics and the spread of foodborne diseases. As a result, probiotics or direct-fed microbials are gaining popularity in the animal feed market, as they promote gut health, overall productivity, and well-being in animals.

Probiotics also help control enteric pathogens and improve digestion and immune systems in animals such as cattle, ruminants, and poultry. Yeast-based probiotics are commonly used in swine, poultry, and ruminants.

Commercial probiotic-based animal feed additives usually contain microorganisms such as lactobacillus, streptococcus, bacillus, Pedi coccus, and Bifidobacterium. The demand for probiotics is expected to increase as the market shifts toward antibiotic-free meat. Adequate labeling of animal feed products is important to ensure safety and enable buyers to make informed choices.

Government regulations require proper labeling of feed ingredients, including complete lists of ingredients and nutrient levels. Balanced animal diets are crucial for livestock growth, development, and reproduction.

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Animals have varying dietary requirements, and the inclusion of proper animal feed additives is necessary to enhance nutritional content. Insufficient nutrients can lead to malnutrition and health issues in animals.

Farmers are increasingly incorporating sustainable methods and investing in research and development to produce high-quality animal feed additives that improve livestock yield and the quality of end products such as eggs and milk.

Key Takeaways:

The animal feed additives market in the United States held a significant value share of 5.2% in 2034. The market is driven by increasing livestock production in the United States and Mexico, and strict government regulations on meat quality and animal feed additives.
In China, the demand for animal feed additives is estimated to thrive with a CAGR of 2.5%, fueled by rising per capita expenditure on high-quality food products and increased disposable income.
Germany is expected to lead the animal feed additives market in Europe, with a CAGR of 2.8%, driven by the sales of ready-to-eat and packaged meat products and stringent food regulations.
India is a promising market with a transforming CAGR of 4.9%, driven by the increasing consumption of animal protein and rising disposable income.
Amino acids are the most preferred product type, accounting for a significant share of 33.1% in 2024, as they play a crucial role in muscle and tissue development, reproduction, and overall animal health.
Plant-based animal feed additives are gaining traction due to their medicinal, antimicrobial effects, and their ability to improve growth performance and enhance the flavor and odor of feed.

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Competitive Landscape

The animal feed additives industry is highly concentrated, with large global and regional companies present. In the face of fierce rivalry, the top five competitors, which include BASF SE, EVONIK INDUSTRIES AG, Cargill, Inc., Koninklijke DSM N.V., and Nutreco N.V., are expected to account for 30-40% of the overall market share.

In March 2021 Ajinomoto Co. joined forces with Pegasus Tech Ventures, a worldwide venture capital firm, to invest in Silicon Valley-based start-ups to capitalize on growing trends in the food and healthcare sectors. The collaboration is going to allow the organization to expand its geographical footprint to 16 sites worldwide.

Animal Feed Additives Market by Category

By Additive Type: