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Global Feed Additives Market to Reach US$ 44.5 billion by 2024, Propelled by the Rapid Industrialization of Meat Production

According to the latest report by IMARC Group, titled “Feed Additives Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024”, the global feed additives market size reached US$ 33.1 Billion in 2018. Feed additives are supplements that are used for enhancing the quality and performance of animal feed. These products belong to various classes of molecules, compounds and organisms to promote healthy growth and assimilation of essential nutrients. These additives can also be utilized to enhance the flavor of the animal feed or digestibility of the feed materials. Some of the most commonly used additives include prebiotics, probiotics, preservatives, antioxidants, emulsifiers, emulsifiers, essential oils, acidifiers, stabilizing agents, coccidiostats and histomonostats. The intake of these supplements enhances the stress resistance, improves appetite and gut health, boosts immune function and stimulates the reproduction of the animals.

Global Feed Additives Market Trends:

The global market is primarily driven by the industrialization of meat and dairy production. Rapidly growing global population, along with shifting dietary preferences and an increase in meat consumption, has provided a thrust to the market growth. Moreover, consumers are increasingly becoming aware of the health benefits of protein-based diets, which has contributed to the escalating sales of good-quality meat and meat products. Additionally, the rising prevalence of livestock diseases has increased the uptake of feed additives that aid in livestock disease prevention. Furthermore, manufacturers are continually engaging in research and development (R&D) activities to launch efficient variants in the market. For instance, the adoption of new techniques such as lipid encapsulation is projected to enhance the stability and performance of the additives, thereby creating a positive outlook for the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 44.5 billion by 2024, expanding at a CAGR of around 5% during 2019-2024.

Market Summary:

  • On the basis of the source, the market has been bifurcated into synthetic and natural.
  • Based on the product type, the market has been divided into amino acids, phosphates, vitamins, acidifiers, carotenoids, enzymes, mycotoxin detoxifiers, flavors and sweeteners, antibiotics, minerals, antioxidants, non-protein nitrogen, preservatives, phytogenics and probiotics.
  • On the basis of the livestock, the market has been segregated into ruminants (calves, dairy cattle, beef cattle and others), poultry (broilers, layers and breeders), swine (starters, growers and sows), aquatic animal and others.
  • Based on the form, the market has been classified into dry and liquid.
  • On the geographical front, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America.
  • The competitive landscape of the market has been examined, with the detailed profiles of the key players operating in the market. Some of these players include Cargill, Incorporated, Archer Daniels Midland Company, DuPont de Nemours, Inc., Evonik Industries AG, BASF SE, Koninklijke DSM N.V., Solvay Group, Ajinomoto Co., Inc., Novozymes A/S, Chr. Hansen A/S, lnVivo Group, Nutreco N.V., Kemin Industries, Inc., Adisseo France SAS, and Alltech Group.

 

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