Revolutionizing the Animal Feed Additives Market Growing at Rapid Pace, Predicts $54.60 Billion in Size and 4.2% Share by 2030: Unleashing Growth and Dominance in the Market with Next

NEW YORK, May 24, 2023 /PRNewswire/ -- As per Facts and Factors study, the animal feed additives market size globally was nearly $40.8 billion in 2022 & is set to increase to about $54.60 billion by 2030 along with securing the highest gains of 4.2% over 2023-2030.

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Animal Feed Additives Market: Overview

Animal feed additives are nutritive materials that are added to livestock feed. For the record, a few of the animal feed additives include minerals, antioxidants, amino acids, regulators, preservatives, emulsifiers, vitamins, and digestibility enhancers. Moreover, they are added to animal nutrition for achieving a favorable impact on animal feed and on the animal products that are derived after feeding them feed combined with additives.

Reportedly, animal feed additives help in improving animal feed flavor and enhance the performance & health of animals. According to EFSA (the European Food Safety Authority), additives have no hazardous effects on either animal or human health as well as on the environment.

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Key Insights:

As per the analysis shared by our research analyst, the global animal feed additives market is projected to expand annually at the annual growth rate of around 4.2% over the forecast timespan (2023-2030)

In terms of revenue, the global animal feed additives market was evaluated at nearly $40.8 billion in 2022 and is expected to reach $54.60 billion by 2030.

The global animal feed additives market is anticipated to record massive growth over the forecast period owing to growing awareness pertaining to benefits accrued due to the use of feed additives along with its use during the COVID-19 pandemic.

Based on the product, the amino acids segment is predicted to contribute a majorly towards the market growth over the forecast timeline.

In terms of livestock, the poultry segment is projected to account for a major share of the global market in 2023-2030.

Region-wise, the European animal feed additives market is projected to register the highest CAGR during the assessment period.

Facts and Factors published the latest report titled "Animal Feed Additives Market Size, Share, Growth Analysis Report By Product(Amino Acids, Antioxidants, and Vitamins), By Livestock (Pork, Poultry, and Cattle), 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 Animal Feed Additives Market: Growth Drivers

Need for improving quality of animal feed to boost the global market trends over 2023-2030.

The surge in meat intake across the globe is likely to boost the global animal feed additives market trends. Growing awareness pertaining to benefits accrued due to the use of feed additives along with its use during the COVID-19 pandemic has paved the way for the growth of the global market. An increase in know-how about the spread of diseases in the livestock animals such as food & mouth disease, avian flu, mad cow disease, and swine flu has prompted concerns related to the safety & quality of meat, thereby increasing demand for animal feed additives.

Furthermore, animal feed additives play a major role in food intake, gastrointestinal health, reproduction, and metabolism as well as in poultry farming. This, in turn, has made animal feed additives more popular in animal husbandry, poultry, and fishing sectors.\

A large number of animal feed additives producers are setting up local distribution networks that aid their business growth as well as protect them from trade risks. Such initiatives have created a strong base for the growth of the animal feed additives market across the globe. The rise in the consumption of seafood in the regular diet has further catapulted the growth of the global market.

Global Animal Feed Additives Market: Restraints

Rise in prices of raw materials adversely impact product demand across the globe.

The surge in the costs of raw components including barley, maize, and wheat has impeded the growth of the global animal feed additives industry. Strict laws governing feed additive production can hamper the expansion of the global industry.

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Animal Feed Additives Market: Opportunities

Need for improving animal gut health to increase product penetration in the animal feed industry and open new market growth opportunities.

Animal feed additives improve the efficacy of feed use, increase animal growth, help in feed preservation, and improve animal metabolism. Apart from this, animal feed additives find a spectrum of applications in animal farming for controlling pathogen colonization in the animal gut.

Reportedly, ingredients that are added to animal feed such as propionic and formic acids are directly provided to broiler birds for eliminating the pathogens from the intestines. All these aforementioned factors are likely to be the key market drivers and will open new growth opportunities for the global animal feed additives market.

Animal Feed Additives Market: Challenges

Strict laws regulating the use of antibiotics to be a big challenge for the industry growth globally.

Restricting the use of antibiotics in some of the countries of Europe and North America can prove to be the biggest challenge in the growth path of the global animal additives industry. Apart from this, the easy availability of substitute products including amino acids, enzymes, and acidifiers can further create big hurdles in the expansion of the industry across the globe.

Global Animal Feed Additives Market: Segmentation

The global animal feed additives market is sectored into product, livestock, and region.

Based on the product, the global animal feed additives market is divided into amino acids, vitamins, and antioxidants segments. In addition to this, the amino acids segment, which contributed over 35% of the global market share in 2022, is predicted to maintain its segmental dominance even in the coming years.

The segmental growth in the next eight years can be ascribed to the need for improving the immunity and gut health of animals. Apart from this, the need for preventing skin disease in animals will steer the growth of the global market. In addition to this, amino acids play a pivotal role in halting cerebral dysfunction in animals.

In terms of livestock, the animal feed additives market across the globe is bifurcated into pork, cattle, and poultry. The poultry segment, which accounted for nearly 38% of the global market earnings in 2022, is predicted to establish a leading position in the global market in the coming years. The segmental surge over the next eight years can be subject to an increase in broiler production in various countries across the globe. Easy availability of various kinds of poultry additives such as vitamins, enzymes, antioxidants, and acidifiers can elevate the nutritional value of the animal feed, thereby expanding segmental growth.

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List of Key Players in Animal Feed Additives Market:

Olmix Group

Evonik Industries

Cargill Inc.

Kemin Industries Inc.

HONG HA NUTRITION

DuPont

AB VISTA

Royal DSM N.V.

ANOVA Group

BASF SE

Alltech Inc.

BIOMIN Holding GmbH

ADM Company

Chr. Hansen Holding

Novozymes A/S.

Key questions answered in this report:

What are the growth rate forecast and market size for Animal Feed Additives Market?

What are the key driving factors propelling the Animal Feed Additives Market forward?

What are the most important companies in the Animal Feed Additives Market Industry?

What segments does the Animal Feed Additives Market cover?

How can I receive a free copy of the Animal Feed Additives Market sample report and company profiles?

Report Scope:

Report Attribute

Details

Market size value in 2022

USD 40.8 Billion

Revenue forecast in 2030

USD 54.60 Billion

Growth Rate

CAGR of almost 4.2% 2023-2030

Base Year

2022

Historic Years

2016 – 2021

Forecast Years

2023-2030

Segments Covered

By Product, 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

Olmix Group, Evonik Industries, Cargill Inc., Kemin Industries Inc., HONG HA NUTRITION, DuPont, AB VISTA, Royal DSM N.V., ANOVA Group, BASF SE, Alltech Inc., BIOMIN Holding GmbH, ADM Company, Chr. Hansen Holding, Novozymes A/S., 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

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Regional Dominance:

Asia-Pacific Animal Feed Additives market to record noteworthy growth over 2023-2030.

Asia-Pacific, which accounted for 40% of the overall share of the global animal feed additives market in 2022, is anticipated to lead the regional market growth in the forecast timespan. The regional market surge over 2023-2030 can be due to the presence of a massive livestock population in countries such as China, India, Bangladesh, Thailand, New Zealand, and Indonesia.

Apart from this, flourishing fishing and poultry sectors as well as a rise in cattle-rearing activities in the region will help the market achieve sustainable growth in the coming years. Presence of major product manufacturers is likely to attract foreign investments in the feed business and dairy sector across the Asia-pacific, thereby profiting the animal feed additive business of the sub-continent.

On the other hand, the animal feed additives industry in Europe is predicted to record the highest CAGR in the forthcoming years. The regional market expansion over the forecast timeline can be due to free trade agreements between the EU nations. Apart from this, the thriving swine industry in Spain will further add to the regional industry earnings.

Global Animal Feed Additives Market is segmented as follows:

Animal Feed Additives Market: By Product Outlook (2023-2030)

Amino Acids

Antioxidants

Vitamins

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

Pork

Poultry

Cattle

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

North America

The U.S.

Canada

Europe

France

The UK

Spain

Germany

Italy

Rest of Europe

Asia Pacific

China

Japan

India

South Korea

Southeast Asia

Rest of Asia Pacific

Latin America

Brazil

Mexico

Rest of Latin America

Middle East & Africa

GCC

South Africa

Rest of Middle East & Africa

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