13-November-2018: According to a report published by Grand View Research, Inc.; the animal feed additives market is expected to reach a valuation of around 23.81 billion by 2025.
Growing consumption of milk and meat products coupled with high concerns regarding diseases among livestock can propel the market during the forecast period (2014 to 2025). Additionally, Growing awareness among the customers regarding extrinsic quality attributes of meat is also expected to increase the demand for these products.
High prevalence of diseases in livestock animals such as foot and mouth infections, bird flu, and swine flu has increased the concern about quality and safety of meat and meat products. The fodder additives play vital role to prevent diseases in animals and to improve vitamin intake, digestion, the rate of weight gain, which enhances the overall quality of meat production. These benefits are expected to drive the market in the coming years. Furthermore, technological advancements with enhancements in formulations of products according to feed type preferences and changing regulatory policies are steering are driving the market growth.
High prevalence of diseases in livestock animals such as foot and mouth infections, bird flu, and swine flu has increased the concern about quality and safety of meat and meat products. The fodder additives play vital role to prevent diseases in animals and to improve vitamin intake, digestion, the rate of weight gain, which enhances the overall quality of meat production. These benefits are expected to drive the market in the coming years. Furthermore, technological advancements with enhancements in formulations of products according to feed type preferences and changing regulatory policies are steering are driving the market growth.
However, high demand for grains such as barley, wheat, and maize from other commercial food and biofuel application are likely to hamper the market growth.
Worldwide animal feed additives market can be divided into product, livestock, and region.
Based on product, the market can be categorized into antibiotics, vitamins, antioxidants, amino acids, Feed Enzymes, feed acidifiers, and others.
The amino acids segment appeared as the major segment and estimated for over 30% of the overall revenue in 2015. Growing consumption of meat in Asia pacific and Middle East regions is expected to drive the segment growth in the coming years.
In 2015, the antibiotics segment was the second leading segment accounted for around 26% of the total volume. The ban on antibiotics in Europe and the U.S. is likely to increase the demand for alternative products such as acidifiers, enzymes, and amino acids.
As per livestock, the market can be bifurcated into port/swine, poultry, cattle, aquaculture, and others.
In 2015, in terms of revenue, the poultry segment was the leading segment and accounted for over 34% of the total revenue. The cattle segment was the second largest segment in 2015 and is anticipated to estimate over 29% of the total market share in terms of volume by 2025.
Geographically, the market can be divided into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa.
In 2015, Asia Pacific reported for the major market and captured around 33% of the total revenue. The region is likely to expand at a CAGR of 3.8% from 2016 to 2025. This growth can be attributed to growing population, improving living standards, and rise in disposable income. Developing countries in this region such as China, Indonesia, and India have been experiencing strong economic growth. China is considered as one of the key producers as well as consumer of meat in the world. Rapid urbanization, chaining lifestyle, and growth in disposable has increased their shift from traditional food to meat product in the country.
In 2015, North America was the second largest market and estimated for around 27% of the total volume. High availability of raw material such as dextrose and maize are expected to boost the market in this region. In 2015, the U.S. foodstuff acidifiers market in cattle livestock was 613 tons and is likely to reach a total volume of over 1,090 tons through 2025. High consumption of meat in the U.S. and Mexico and presence of strict regulations about meat quality are driving the growth in this region.
Prominent companies operating in the market include Novus International Inc.; Elanco Animal Health; Ajinomoto Co., Inc.; Elanco Animal Health; and Evonik Industries. The market is highly competitive and the parameters such as application development and customized products are major parameters for the competition. Players in the market are focused in the development of diversified product range to gain higher share in the market.
In-Depth Research Report On Animal Feed Additives Market:
https://www.grandviewresearch.com/industry-analysis/animal-feed-additives-market
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