The latest report by IMARC Group, titled “Feed Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” finds that the global feed additives market reached a value of US$ 37.5 Billion in 2022. Feed additives are nutritional supplements that provide nutrition to animals. They offer essential nutrients, such as vitamins, minerals and amino acids, which aid in preventing diseases. They are also utilized for improving the performance and health of animals, including increasing the digestibility of feed materials. In addition, they improve the feed quality, yield, and quality of food derived from animal origins such as meat, milk, egg, and fish. In recent years, the demand for feed additives has escalated as they are also administered to the animals to stimulate the appetite and release antibiotics that kill any form of bacteria in the animal’s system.
Global Feed Additives Market Trends:
The market is primarily driven by the increasing consumption of meat products across the globe, as feed additives enhance the performance and health of animals. In addition, the outbreak of livestock diseases has increased the need for additives in poultry, aqua, and other animal-based products, thereby fueling the market growth. Furthermore, the rising concern for the quality of meat and meat-related products is also facilitating the adoption of additives for various livestock such as swine, cattle, and aquatic animals. As a result, several manufacturers, including Cargill, Inc., Archer Daniels Midland Company, and Addcon Group, are adopting strategies to expand their market presence and cater to the demand for feed additives. Moreover, manufacturers are continually engaging in research and development (R&D) activities to launch efficient variants in the market. For instance, they are adopting new techniques, such as lipid encapsulation, which are projected to enhance the stability and performance of the additives. On account of these factors, the market value is expected to exhibit a CAGR of 5.1% during 2023-2028.
- Based on the source, the market has been segmented into synthetic and natural sources.
- On the basis of the product type, the market has been classified into amino acids (lysine, methionine, threonine, and tryptophan), phosphates (monocalcium, dicalcium, mono-dicalcium, defulorinated, tricalcium, and other phosphates), vitamins (fat-soluble and water-soluble), acidifiers (propionic, formic, citric, lactic, sorbic, malic, acetic, and other acids), carotenoids (astaxanthin, canthaxanthin, lutein, and beta-carotene), enzymes (phytase, protease, and others), mycotoxin detoxifiers (binders and modifiers), flavors and sweeteners, antibiotics (tetracycline, penicillin, and others), minerals (potassium, calcium, phosphorus, magnesium, sodium, iron, zinc, copper, manganese, and others), antioxidants (BHA, BHT, ethoxyquin, and others), non-protein nitrogen (urea, ammonia, and others), preservatives (mold inhibitors and anticaking agents), phytogenics (essential oils, herbs and spices, oleoresin, and others), and probiotics (lactobacilli, streptococcus thermophilus, bifidobacteria, and yeast).
- The market has been categorized based on the livestock into ruminants (calves, dairy cattle, beef cattle, and others), poultry (broilers, layers, and breeders), swine (starters, growers, and sows), aquatic animal, and others.
- On the basis of the form, the market has been segregated into dry and liquid.
- Region-wise, the market has been divided into North America, Asia Pacific, Europe, Latin America, and Middle East and Africa.
- The competitive landscape of the market has been examined, with some of the key players being Cargill Incorporated, Archer Daniels Midland (ADM) Company, Dupont De Nemours Inc., Evonik Industries AG, BASF SE, Koninklijke DSM N.V., Solvay S.A., Ajinomoto Co. Inc., Novozymes A/S, Chr. Hansen Holding A/S, Invivo Communications Inc., Nutreco N.V., Kemin Industries, Inc., Adisseo France SAS, and Alltech Inc.
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