Global Animal Feed Additives Market Growth, Trends, COVID-19 impact and Forecast (2020-2025)
The global animal feed additives market is segmented on Product (Vitamins, Antibiotics, Feed Enzymes, Acidifiers, Amino Acids, and Antioxidants), By Livestock (Ruminants, Poultry, Swine, Aquatic Animal), By Form (Dry and Liquid), By Source (Natural and Synthetic) and Region (APAC, North America, Europe, and ROW).
Introduction
Feed additives are an essential component of increasing meat production and are widely used in animal feed for a variety of benefits, including achieving nutritional balance and promoting animal health.
Animal feed additives include vitamins, amino acids, fatty acids, and minerals. These animal feed additives not only provide vital animal nutrition to the farm animals but also influence their presentation, hygiene, digestibility, and effect on intestinal health, thereby producing better meat products for consumption.
Owing to the increasing COVID-19 pandemic outbreak in various regions/countries, the feed additives market in 2020 was observed to witness a decline due to the lockdowns in various countries, closure of the international borders, and delay in cross border transit that has led to supply chain hindrances.
Table of Contents
Executive Summary
Scope of the report
Research Methodology
Executive Summary
Introduction
5.1 Parent Market/ TAM
5.2 Market Outline
5.3 Market Segmentation
6. Five Force analysis
7. Market Sizing
8. Market segmentation
9. Geographical Landscape
9.1 APAC
9.2 Europe
9.3 North America
9.4 ROW
10. Growth drivers
10.1 The diversity of applications including nutritional value, food preservation
10.2 An increase in demand and consumption of livestock-based products.
11. Key Market Trends
12. Impact of Covid-19
13. Challenges
14. Customer Insights analysis
15. Major Market Players
15.1 BASF SE
15.2 Cargill, Inc.
15.3 Archer Daniels Midland Company
15.4 Evonik Industries AG
15.5 Nutreco N.V.
15.6 Addcon Group
15.7 Aliphos Belgium S.A.
15.8 Kemin Industries Inc.
16. Recent Developments
17. Future Scope
18. Strategic Recommendations
Market Overview
The Global animal feed additives market is expected to grow to $31.3 billion by 2025.
Growth momentum is expected to accelerate during the forecast period with 6.2% CAGR.
Asia-Pacific dominated the global animal feed additives market, in terms of both value and volume. The region is also expected to witness the highest growth rate from 2020 to 2025, owing to increase in demand for animal products, growth in population, rise in disposable incomes, and an increase in demand for quality meat products.
Key Trends
A large part of producers is using more than one feed additive. Using feed additives in combination is found to be more beneficial to the health of farm animals. This practice is poised to grow continuously during the forecast period, which will aid prospects in the animal feed additive market.
Cattle are the primary source of dairy products across the world. A significant rise in cattle farming is likely to drive the demand for animal feed additives over the forecast period.
Key Market Players
The most prominent players in the market are BASF SE, Cargill, Inc., Archer Daniels Midland Company, Evonik Industries AG, Nutreco N.V., Addison Group, Aliphos Belgium S.A., Kemin Industries Inc., Koninklijke DSM N.V., and Phibro Animal Health Corporation, and others.
Growth Drivers and Challenges
The diversity of applications, including nutritional value, food preservation, imparting texture, and flavor of food, have become the main drivers of market growth.
An increase in demand and consumption of livestock-based products such as dairy & dairy-based products, meat, and eggs is expected to drive the usage of feed additives in feed for the growth and development of farm animals.