Animal Feed Additives Market - Forecast(2024 - 2030)
Animal Feed Additives Market Overview
The Animal Feed Additives Market size is estimated to reach $26.3 billion by 2028 with a CAGR of 2.6% over the forecast period of 2023-2028. Feed additives such as prebiotics, probiotics, enzymes and antioxidants are products used in animal nutrition to improve the quality of feed and food from animals. It also improves the animals' performance and health by providing enhanced digestibility of feed materials and acting as an add-on for farm animals that receive insufficient nutrients from regular diets. Animal Feed Additives market growth was primarily fueled by factors such as rising demand for meat and dairy products that are high in protein, industrialization of meat production, rising meat consumption, animal disease outbreaks and rising consumer awareness of the safety and quality of meat. According to the National Bureau of Statistics, pork output reached nearly 52.9 million metric tons in 2021, up from the previous year. The output of poultry and beef has also increased to 15.3 million metric tons in 2021 compared to 6.8 million metric tons in 2020.
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Animal Feed Additives Market Report Coverage
The report: “Animal Feed Additives Market Forecast (2023-2028)", by IndustryARC covers an in-depth analysis of the following segments in the Animal Feed Additives Market.
By Livestock: Ruminants, Poultry, Swine and Others.
By Source: Natural and Synthetic.
By Additives Type: Minerals (Macro Minerals, Trace Minerals), Vitamins, Antibiotics, Acidifiers, Antioxidants, Amino Acids & Glucoformers, Feed-Enzymes, Prebiotics, Probiotics, Essential Oils, Plant Extracts and Others.
By Form: Granules, Boluses, Powder, Liquid and Others.
By End-user: Live Stock Farmers and Industrial (Nutritional Supplements, Premixes, Wholefoods, Veterinary Drugs).
By Geography: North America (U.S., Canada, Mexico), Europe (Germany, United Kingdom (U.K.), France, Italy, Spain, Russia and the Rest of Europe), Asia-Pacific (China, Japan India, South Korea, Australia and New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America) and Rest of the World (Middle East and Africa).
Key Takeaways
Animal Feed Additives Market- Market Share (%) by region, 2022.
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Animal Feed Additives Market Segment Analysis - by Livestock
Animal Feed Additives Market based on livestock can be further segmented into Ruminants, Poultry, Swine and Others. The poultry segment held a dominant market share in 2022 and is also anticipated to grow with a CAGR of 2.9% in 2023-2028 owing to a predominant number of poultry birds stipulated in various regions around the globe. As per Data from OECD, meat consumption has been consistently increasing in many countries worldwide with Poultry making up over 40% of the market share. Also, the Swine segment is anticipated to grow with the second fastest CAGR of 2.6% over the forecast period 2023-2028. It is owing to the rise in the consumption of pork globally. For instance, the USDA predicts that global pork consumption is expected to rise by over 10% by 2027.
Animal Feed Additives Market Segment Analysis - by Form
Animal Feed Additives Market based on the form can be further segmented into Granules, Boluses, Powder, Liquid and Others. The powders segment held a dominant market share in 2022 and is also anticipated to grow with a CAGR of 3.0% in 2023-2028. This is owing to the growth in its popularity owing to the wide range of availability of enzymes, vitamins, probiotics and other ingredients that are being developed and sold in this form. Also, the presence of binders, emulsifiers, lysine, methionine and cysteine in the right amount in powder form is further fueling segment growth. The powdered form is one of the most common forms of Solid feed additives owing to their ease of use and administration across all animal types. Moreover, they are crucial for the growth of ruminants. As per studies conducted by All About Feed Magazine, Powdered Feed is extensively used to feed young calves as means to administer solid feed.
Animal Feed Additives Market Segment Analysis - by Geography
Asia-Pacific held a dominant market share of 33% in the year 2022 and is estimated to be the fastest-growing over the forecast period of 2023-2028. It is owing to surging demand for processed meat and protein diets owing to the increase in income levels of households that are set to drive the animal feed additives market. The demand for consumption of animal feed additives has increased the exports and production of feed additives which have led to the growth of international trade and also to the greater expansion of the meat industry in the Asia-Pacific.
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Animal Feed Additives Market Drivers
Growing Demand for Meat Led to an Increase in Animal Feed Production, Which Aided Market Growth.
During the past 10 years, there has been tremendous growth in the demand for animal protein globally for livestock, dairy and fish. As per the Food and Agriculture Organization (FAO), global meat consumption is expected to increase by over 20% by 2050. Meat and poultry consumption in the United States rose by less than 1% per year, but gains in other parts of the world were greater. For instance, Africa and the Middle East, in particular, witnessed a rapid increase in meat consumption, as rising living standards and income levels allowed more people to incorporate meat into their regular diets. The growing number of meat consumers consequently pushed the Animal Feed Additives Market forward.
The Increasing Use of Probiotics as Supplements in Animal Feed, Proliferated the Market Demand.
Animal Feed Additive numbers grew at a significant pace owing to the increasing use of Probiotics, which have become increasingly common during the past ten years. Also, owing to rapid advances in molecular biology and gene sequencing have allowed researchers to gain insight into discovering new probiotic applications for animals, such as in feed and consumer-packaged health products for companion pets. Probiotics use has further increased in order to satiate the growing demand for Livestock. According to the FAO, around 75% of rural people and 25% of urban people rely on livestock for food in 2021, hence enhancing the industrial demand.
Animal Feed Additives Market Challenge
Withdrawal of Antibiotic Growth Promoters Impedes the Market Growth.
Due to the widespread use of antibiotic growth promoters (AGPs), antibiotic-resistant pathogens of animal origin have emerged, posing a significant threat to food safety and public health. From July 2020, China has prohibited the use of AGPs in animal feed. Furthermore, the livestock industry agreed to stop using medically important antimicrobials for growth promotion or feed efficiency. Additionally, as per instructions from The World Health Organization (WHO), several farmers and the food industry stopped the routine use of antibiotics to promote growth and disease prevention in healthy animals. For instance, the sale of antibiotics for animal production in the United States fell by around 30%, as per a WHO report released in 2019. This significantly impacted the market’s growth.
Animal Feed Additive Industry Outlook
Product launches, Business Expansions, Acquisitions, Collaborations and Joint Ventures are key strategies adopted by players in the Animal Feed Additive Industry. The top 10 companies in the Animal Feed Additives Market are-
Recent Developments
Relevant Titles
Report Code- FBR 96740
Report Code: FBR 0016
Report Code- FBR 0401
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