Feed Additives Market to Reach USD 49.01 Billion by 2030 | With 4.43% CAGR
Key companies covered in feed additives market are Cargill, Incorporated (U.S.), ADM (U.S.), Ajinomoto Co., Inc. (Japan), Evonik Industries (Germany), DuPont (U.S.), Novozymes (Denmark), DSM (Netherlands), Adisseo (China), Chr. Hansen Holding (Denmark), Kemin Industries, Inc. (U.S.) and many more
Feed Additives Market
Pune, India, Oct. 19, 2023 (GLOBE NEWSWIRE) — The global feed additives market size was USD 34.54 billion in 2022 and is expected to rise from USD 36.17 billion in 2023 to USD 49.01 billion by 2030 at a CAGR of 4.43% during the projected period.
Animal food additives are essential ingredients added to animal feed to achieve various goals, such as improving feed efficiency, enhancing animal health, and optimizing metabolic processes for improved animal performance.
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List of Key Players Mentioned in the Report:
- Cargill, Incorporated (U.S.)
- ADM (U.S.)
- Ajinomoto Co., Inc. (Japan)
- Evonik Industries (Germany)
- DuPont (U.S.)
- Novozymes (Denmark)
- DSM (Netherlands)
- Adisseo (China)
- Chr. Hansen Holding (Denmark)
- Kemin Industries, Inc. (U.S.)
The multifunctionality and adaptability of feed additives, coupled with the commercialization of the livestock industry in developing countries and evolving market demands, are key factors contributing to market expansion.
Fortune Business Insights™ provides this information in its research report, titled “Feed Additives Market, 2023-2030”.
COVID-19 Impact:
Disruptions in International Trade and Local Movement Hampered Market Growth
The COVID-19 pandemic adversely impacted the animal husbandry sector considering the disruptions in the international trade and local movement. The pandemic put a halt on exporting activities, creating large-scale manufacturing interruptions. This led to increased costs for feed ingredients, thereby hampering market growth.
Report Scope & Segmentation:
| Report Attribute | Details |
| Forecast Period | 2023-2030 |
| Forecast CAGR | 4.43% |
| 2030 Value Projection | USD 49.01 billion |
| Market Size in 2023 | USD 36.17 billion |
| Historical Data | 2019-2021 |
| No. of Pages | 140 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
|
| Regions Covered |
|
| Feed Additives Market Growth Drivers | Thriving Demand for Animal Proteins to Boost Additives Sales |
| Rising Cost of Feed Raw Materials is Limiting Market Growth for Additives |
Browse Detailed Summary of Research Report with TOC:
https://www.fortunebusinessinsights.com/feed-additives-market-104345
Leading Players Featured in the Research Report:
Companies leading in feed additives market are Cargill, Incorporated (U.S.), ADM (U.S.), Ajinomoto Co., Inc. (Japan), Evonik Industries (Germany), DuPont (U.S.), Novozymes (Denmark), DSM (Netherlands), Adisseo (China), Chr. Hansen Holding (Denmark), Kemin Industries, Inc. (U.S.) and many more
Segmentation:
Amino Acids Segment to Dominate Impelled by Escalating Industrial Applications
On the basis of type, the market is divided into antioxidants, vitamins and minerals, amino acids, and others. The amino acids segment is expected to dominate by holding the prominent feed additives market share as it offers flexibility with feed ingredients, enabling companies to increase profitability.
Poultry Segment to Lead Driven by Soaring Demand for Poultry Products
On the basis of animal type, the market is sub-segmented into poultry, swine, cattle, and others. The poultry segment dominates the market. Factors such as population growth, urbanization, and income level growth are set to drive the demand for poultry products.
On the basis of geography, the market for feed additives has been studied across Asia Pacific, Europe, South America, the Middle East & Africa, and North America.
Report Coverage:
The research provides an in-depth analysis of upcoming global business trends, delving into the key drivers and challenges. It also encompasses an examination of the COVID-19 pandemic’s impact on industry growth, alongside an exploration of top companies’ strategies to establish market dominance.
Drivers and Restraints:
Escalating Demand for Animal Protein to Impel Industry Growth
Accentuating demand for animal protein and the need for feed additives is propelling the expansion of the agriculture sector. For instance, the global population is anticipated to reach 9.75 billion, as per the United Nations population projections for 2050. This is set to propel demand for animal protein and increase the feed additives market growth over the forecast period.
However, factors such as low quality of meat and high cost of feed could hinder industry expansion to some extent.
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Regional Insights:
Asia Pacific to Emerge as Key Region Owing to Presence of Small-Scale Farmholders and Large Commercial Enterprises
Asia Pacific is anticipated to hold a key feed additives market share. The regional dominance can be credited to the presence of several small-scale farmholders and large commercial enterprises observing expansion into new geographic areas to access broader markets.
Brazil is expected to grow at a substantial rate during the forecast period. This is mainly due to the country’s considerable size and large raw material production capacity, combined with its high meat consumption.
Competitive Landscape:
Leading Companies Undertake Strategic Steps to Fortify their Market Presence
Key industry players are focusing on adopting strategic deals to strengthen their positions in the market. These comprise partnerships, acquisitions, the launch of new products, and merger agreements.
Key Industry Development:
February 2021 – Kemin Industries launched KemTRACE Chromium-OR feed ingredient for use in swine, cattle, and broiler diets. The solution would help reduce the negative impacts of stress and improve glucose utilization in animals.
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Detailed Table of Contents:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Market Trends
- Key Insights
- Overview of the Parent/Related Markets
- Industry SWOT Analysis
- Supply Chain
- Regulatory Analysis
- Recent Industry Developments – Policies, Partnerships, New Product Launches, and Mergers & Acquisitions
- Qualitative Analysis Related to COVID-19
- Impact of COVID-19 on the Market
- Supply Chain Challenges amidst Pandemic
- Potential Opportunities due to this Global Crisis
- Global Feed Additives Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Amino Acids
- Vitamins & Minerals
- Antioxidants
- Others
- By Animal Type
- Cattle
- Poultry
- Swine
- Others
- By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type
- North America Feed Additives Market Analysis, Insights and Forecast, 2019-2030
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type
- Amino Acids
- Vitamins & Minerals
- Antioxidants
- Others
- By Animal Type
- Cattle
- Poultry
- Swine
- Others
- By Country (Value)
- U.S.
- By Animal Type (Value)
- Cattle
- Poultry
- Swine
- Others
- By Animal Type (Value)
- Canada
- By Animal Type (Value)
- Cattle
- Poultry
- Swine
- Others
- By Animal Type (Value)
- U.S.
- By Type
TOC Continued…!
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