Feed Additives Market Report 2023 Projected to Reach USD 17.1 Billion and Exhibit a CAGR of 9.1%

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31 May, 2023, 11:15 ET

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NEW YORK, May 31, 2023 /PRNewswire/ -- As per Facts and Factors study, The global feed additives market size was nearly $13.1 billion in 2022 and is set to increase to about $17.1 billion by 2030 along with securing the highest gains of 9.1% from 2023 to 2030.

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Feed Additives Market: Overview

The European Commission has defined feed additives as products used in animal nutrition for enhancing animal feed quality and the quality of foods of animal origin including meat, milk, eggs, and fish. These feed additives are used for enhancing the performance and health of animals. Furthermore, the use of feed additives in animal nutrition is the use of the right additive at the right time and in the right amounts adhering to the legislations of the countries.

Moreover, feed additives added to animal feeds in the right proportion provides numerous benefits to animal breeders. Some of these benefits include improving the digestive ability of animals, enhancing feed quality, preserving feed nutrients, and improving the quality of animal products. Reportedly, feed additives are used for fulfilling the nutritive needs of animals for improving their breed for meat & milk, and other animal-based products.

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Key Insights:

Facts and Factors published the latest report titled "Feed Additives Market Size, Share, Growth Analysis Report By Additive (Acidifiers, Amino Acids, Antibiotics, Antioxidants, Binders, Enzymes, Flavors & Sweeteners, Minerals, Mycotoxin Detoxifiers, Phytogenics, Pigments, Prebiotics, Probiotics, Vitamins, and Yeast), By Livestock (Aquaculture, Poultry, Ruminants, and Swine), and By Region - Global and Regional Industry Insights, Overview, Comprehensive Analysis, Trends, Statistical Research, Market Intelligence, Historical Data and Forecast 2023 – 2030" into their research database.

Industry Dynamics:

Global Feed Additives Market: Growth Drivers

The rise in feedstock farm sizes has catapulted the demand for feed additives in recent years. Apart from this, the commercialization of livestock farming, reduction of grazing lands, and the need for feed ingredients consisting of high nutritive value will accentuate the growth of the global feed additives market.

Moreover, the need for feed efficacy will further embellish the expansion of the global feed additives market. As per the International Feed Industry Federation, commercial feed production produces an estimated yearly turnover of more than $400 billion.

Furthermore, a rise in feed production, demand for livestock-based items, and a surge in livestock population will contribute majorly towards global market profits. Massive demand for high-quality animal-based proteins and awareness about the benefits provided by feed additives will expedite the size of the feed additives market.

In addition to this, the rising acceptance of precision-based livestock farming activities and government aid for using feed additives in animal feed has enlarged the scope of growth for the market across the globe.

Global Feed Additives Market: Restraints

The surge in raw material costs and a ban on the use of antibiotics can put brakes on the global feed additives industry growth in the near future. The easy availability of crop residues as feeds can further impede the global feed additives industry expansion.

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Feed Additives Market: Opportunities

Feed additive manufacturers are adopting new kinds of natural feed additives along with new growth enhancers such as botanical additives like appropriate herb blends and plant extracts. This, in turn, is predicted to generate new growth opportunities for the global feed additives industry.

Feed Additives Market: Challenges

The sustainability of feed additives and livestock chain are the two key challenges that can impact the growth of the feed additives industry globally.

Global Feed Additives Market: Segmentation

In terms of additives, the global feed additives market is sectored into phytogenics, enzymes, acidifiers, antibiotics, antioxidants, amino acids, prebiotics, binders, minerals, mycotoxin detoxifiers, flavors & sweeteners, pigments, vitamins, probiotics, and yeast segments.

Furthermore, the amino acid segment, which accounted for more than 70% of the global market share in 2022, is set to record the fastest CAGR of 5.1% over the forecasting period. The segmental surge in the next eight years can be attributed to the ability of amino acids in improving the development of animals.

Based on livestock, the feed additives industry across the globe is divided into ruminants, aquaculture, poultry, and swine segments. The poultry segment, which contributed for about three-fourths of the global industry share in 2022, is expected to rule the global industry expansion even in the foreseeable future. The growth of the segment in the coming years can be subject to growing awareness about animal health as well as customer inclination for particular yolk and meat leading to humongous penetration of feed additives in the poultry segment.

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List of Key Players in Feed Additives Market:

Key questions answered in this report:

Report Scope:

Report Attribute

Details

Market size value in 2022

USD 13.1 Billion

Revenue forecast in 2030

USD 17.1 Billion

Growth Rate

CAGR of almost 9.1% 2023-2030

Base Year

2022

Historic Years

2016 – 2021

Forecast Years

2023-2030

Segments Covered

By Additive, Livestock, and Region

Forecast Units

Value (USD Billion), and Volume (Units)

Quantitative Units

Revenue in USD million/billion and CAGR from 2023 to 2030

Regions Covered

North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World

Countries Covered

U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others

Companies Covered

Cargill Inc., DuPont, ADM, Evonik Industries, BASF SE, DSM AG, Novozymes Corporation, Ajinomoto, Chr Hansen, Nutreco, TEGASA, Alltech, Kemin Industries Inc., Palital Feed Additives B.V., Centafarm SRL, Novus International Inc., NUQO feed Additives, and others.

Report Coverage

Market growth drivers, restraints, opportunities, Porter's five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.

Customization Scope

Avail of customized purchase options to meet your exact research needs.

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Regional Dominance:

Asia-Pacific, which accounted for more than 61% of the global feed additives market revenue in 2022, is anticipated to dominate the regional market growth during the projected timeline. The regional market expansion over 2023-2030 can be due to the large presence of livestock in countries such as Japan, Thailand, Indonesia, and India. In addition to this, there are a large number of feed mills in the countries such as Thailand, China, and Indonesia.

On the other hand, the North American feed additives industry is set to record the fastest CAGR of nearly 14.1% in the forecasting timeline. The growth of the market in the region can be credited to the rise in the sale of commercial seed in the countries such as the U.S. In addition to this, the presence of key product manufacturers in the region will contribute majorly to the regional industry size.

Global Feed Additives Market is segmented as follows:

Feed Additives Market: By Additive Outlook (2023-2030)

Feed Additives Market: By Livestock Outlook (2023-2030)

Feed Additives Market: By Region Outlook (2023-2030)

North America

Europe

Asia Pacific

Latin America

Middle East & Africa

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