Feed Additives Market projected to surpass US$37 billion by 2028

NOIDA, UTTAR PRADESH, INDIA, August 9, 2023/EINPresswire.com/ -- According to a new study published by Knowledge Sourcing Intelligence, the feed additives market is projected to grow at a CAGR of 6.98% between 2023 and 2028 to reach US$37.195 billion by 2028.

The prime factors propelling the feed additives market growth include the increasing demand for high-quality animal protein, rising awareness about animal health and nutrition, advancements in animal husbandry practices, and the need to enhance feed efficiency for sustainable and productive livestock production.

Feed additives are substances or compounds incorporated into animal feed to enhance the nutritional value, quality, and overall health of livestock. These additives can include vitamins, minerals, amino acids, enzymes, antioxidants, and other bioactive compounds. They are used to optimize animal growth, reproduction, and immune response, improve feed efficiency, and mitigate negative environmental effects. Feed additives play a crucial role in modern animal husbandry, helping farmers meet the nutritional needs of animals and promote their well-being while also contributing to efficient and sustainable livestock production practices.

The market is witnessing multiple collaborations and technological advancements, for instance in Feb 2023, Evonik launched PhytriCare IM, a plant-based feed additive rich in flavonoids, targeting inflammation in sows, hens, and cows. With antibiotic bans in Europe, this innovative solution enhances animal health, productivity, and welfare by modulating inflammatory responses. Developed in partnership with Dr. Eckel, PhytriCare IM offers a consistent quality blend of plant extracts with natural anti-inflammatory effects, aiding biochemical processes linked to inflammation.

Access sample report or view details:
https://www.knowledge-sourcing.com/report/feed-additives-market

Based on product type, the feed additives market is divided into antibiotics, vitamins, amino acids, and acidifiers. Among these segments, the acidifiers segment is undergoing significant growth due to their multifaceted benefits in livestock production. These additives contribute to improved gut health, pH regulation, and nutrient absorption, leading to enhanced animal performance and overall health. As concerns about antibiotic resistance rise, acidifiers offer a viable alternative for promoting animal well-being and boosting growth without relying on antibiotics. The increasing preference for sustainable and natural solutions in animal nutrition further drives the adoption of acidifiers, making it a promising and swiftly growing segment within the feed additives market.

Based on livestock, the feed additives market is segmented into aquatic, poultry, swine, cattle, and others. Among these segments, the aquatic segment is witnessing rapid growth due to several factors. This is due to the increasing demand for seafood products, which require feed additives to improve their growth and health. The increasing worldwide demand for seafood and aquaculture products has led to the growth of aquatic farming, making the use of effective feed additives essential. As aquaculture works to meet the growing protein needs of a larger population, additives play a vital role in improving the health, growth, and ability to resist diseases in aquatic species. Furthermore, the emphasis on sustainable aquaculture methods and the goal of optimizing feed conversion rates have pushed for the adoption of specialized additives that cater to the unique nutritional needs of different aquatic species. As a result, the aquatic segment is rapidly expanding due to the need for sustainable seafood production and the challenges faced by modern aquaculture.

By form, the market is split into dry & liquid. The liquid form is experiencing notable expansion in the feed additives market driven by compelling factors. The growth of the liquid form is influenced by the significant advantages it offers, including easy mixing and even distribution within animal diets, ensuring improved intake and utilization. This format is particularly favored in situations where precise dosing and rapid absorption are essential for optimizing livestock health and performance. Furthermore, liquid additives enable the tailoring of nutritional blends to match specific animal needs, contributing to heightened feed efficiency and overall output.

Based on source, the feed additives market is divided into synthetic & natural. As consumers increasingly gravitate towards sustainable and health-conscious choices, the demand for naturally sourced feed additives has surged. Natural additives are derived from renewable resources and are often perceived as safer and more environmentally friendly alternatives to synthetic counterparts. This trend aligns with the growing emphasis on animal welfare, as natural additives are perceived to align better with the goal of producing wholesome and ethically raised livestock.

Geographically, the Asia-Pacific region is anticipated to dominate the feed additives market share due to several key factors. Rapid urbanization and a growing middle-class population in countries like China and India are driving increased demand for animal protein products, leading to intensified livestock production. Additionally, the region's focus on achieving food security and improving livestock health and performance through innovative feed solutions further propels the market. The presence of major feed additive manufacturers, coupled with favorable government policies and investments in agriculture and animal husbandry, contribute to the region's dominance in the global feed additives market.

As a part of the report, the major players operating in the feed additives market, that have been covered include Cargill Incorporated, BASF SE, Novozymes, Nutreco, Chr. Hansen Holding A/S, Evonik Industries, Archer Daniels Midland Company, Alltech Inc, Elanco Animal Health, DSM, and Adisseo among others.

These analytics report segments the feed additives market on the following basis:

• By Product Type

o Antibiotic

• Tetracycline
• Penicillin
• Enzyme
• Carbohydrates
• Phytases
• Others

o Vitamins

• Vitamin A
• Vitamin E
• Vitamin B
• Vitamin C
• Vitamin D
• Others

o Amino Acid

• DL-Methionine
• L-Lysine HCI
• L-Threonine
• L-Tryptophan
• Antioxidant
• Ethoxyquin
• BHA
• BHT

o Acidifiers

• Inorganic
• Organic
• Compound
• Minerals
• Micro
• Macro
• Others

• By Livestock

o Aquatic
o Poultry
o Swine
o Cattle
o Others

• By Form

o Dry
o Liquid
• By Source
o Synthetic
o Natural

• By Geography

o North America

• By Product Type
• By Livestock
• By Form
• By Source
• By Country
• United States
• Canada
• Mexico

o South America

• By Product Type
• By Livestock
• By Form
• By Source
• By Country
• Argentina
• Brazil
• Others

o Europe

• By Product Type
• By Livestock
• By Form
• By Source
• By Country
• Germany
• UK
• France
• Spain
• Others

o Middle East and Africa

• By Product Type
• By Livestock
• By Form
• By Source
• By Country
• Saudi Arabia
• Israel
• Others

o Asia Pacific

• By Product Type
• By Livestock
• By Form
• By Source
• By Country
• China
• Japan
• India
• South Korea
• Others

Explore more Reports:

• Aquafeed Additives Market: https://www.knowledge-sourcing.com/report/aquafeed-additives-market

• Swine Feed Additives Market: https://www.knowledge-sourcing.com/report/swine-feed-additives-market

• Liquid Feed Additives Market: https://www.knowledge-sourcing.com/report/liquid-feed-additives-market

Ankit Mishra
Knowledge Sourcing Intelligence
+1 850-250-1698
[email protected]
Visit us on social media:
Facebook
Twitter
LinkedIn