Animal Feed Additives Market Growth & Trends
The global animal feed additives market size is expected to reach USD 53.7 billion by 2030, as per a new report by Grand View Research, Inc. Furthermore, the industry is projected to advance at a CAGR of 3.5% from 2022 to 2030. The growth is majorly driven by the increased consumption of meat and the rise in the livestock population worldwide.
Animal feed additives are types of supplements added to the feed which enhance the overall health, appearance, and body structure of the livestock. These additives make the livestock more desirable to the consumers and profitable for the cultivators. Generally utilized additives include vitamins, amino acids, enzymes, and antibiotics, among others. These additives are utilized extensively in the feed industry, especially for commercial purposes.
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The demand for meat and other animal-based products directly affects the demand for additives. These additives are essential for supporting the global animal-based industries, which include the meat, poultry, milk, and milk products industries, among others. The use of these products in livestock diet is promoted for non-commercial uses, as they improve the overall health of the animals and enhance their growth and development.
Regions such as Europe and North America, where the consumption of meat is very high, serve as potentially major markets. The meat industry is highly dependent on the animal feed additives industry for optimum quality of meat. The growing population around the globe is also projected to surge the demand for meat and animal-based products, which will subsequently boost the market growth.
The recent COVID-19 pandemic adversely affected the market, due to labor shortages and disruptions in the supply chain. Although the market has shown an overall prompt recovery after the pandemic and has exhibited prolific growth in this period, and is anticipated to expand quickly during the forecast years.
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Animal Feed Additives Market Segmentation
Grand View Research has segmented the global animal feed additives market on the basis of product, livestock, and region:
Animal Feed Additives Product Outlook (Revenue, USD Million, Volume, Kilotons, 2018 – 2030)
- Antibiotics
- Vitamins
o Vitamin A
o Vitamin E
o Vitamin B
o Vitamin C
o Others
- Antioxidants
- Amino Acids
o Tryptophan
o Lysine
o Methionine
o Threonine
o Others
- Feed Enzymes
o Phytase
o Non-Starch Polysaccharides & Others
- Feed Acidifiers
- Others
List of Key Players in the Animal Feed Additives Market
- AFB International
- Alltech
- Kemin Industries, Inc.
- Vitablend Asia Pacific Pte. Ltd.
- Kalsec, Inc.
- DSM
- Ameri-Pac, Inc.
- BASF SE
- Evonik Industries AG
- FoodSafe Technologies
- Lallemand, Inc.
- DuPont
- Nutreco N.V.
- Elanco
- Biomin Holding GmbH
- Adisseo France S.A.S.
- Archer Daniels Midland
- Penny Newman
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About Us:
Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analysis on 46 industries in 25 major countries worldwide.
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