The global animal feed additives market size is expected to reach USD 50.88 billion by 2027, registering a revenue-based CAGR of 3.8% over the forecast period, according to a new report by Grand View Research, Inc. Growing need to enhance the overall feed properties is one of the critical factors driving product demand. Increased consumption of meat and meat products as the primary source of protein and other nutrients is estimated to further drive the demand.
Feed additives are considered to
be an essential source of nutrition for animals. They are proven to be
beneficial for improving feed quality, digestion, and conversion, thereby
improving overall animal health. Different types of additives include amino
acids, antioxidants, feed enzymes, vitamins, antibiotics, and feed acidifiers.
Feed enzymes are becoming popular
among manufacturers and livestock producers. They increase the nutritive value,
reduces cost, and improves the conversion ratio. The dominant type of enzyme
products includes Carbohydrase, non-starch polysaccharides, phytase, and protease.
The market players are focused on developing cost-effective products. For
example, Novozymes, a key market player, in partnership with DSM, launched its
enzyme under the brand name BalanciusTM. The enzyme is mainly developed for
improving gut health of broiler chickens, which facilitates sustainable
production.
Antibiotic is a significant type
of animal feed additives consumed worldwide. Its ability to promote growth in
livestock was one of the primary factors that have helped in developing its
market. However, the excessive use of antibiotics as growth promoters resulted
in the local bacterial population becoming resistant to the antibiotics. Traces
of antibiotics in meat can also affect human health because of their excess use
as growth promoters. Several countries are now imposing a ban on the use of
antibiotics in animal feed and feed additive formulations. For instance, the
Indian government recently imposed a ban on the use of Colistin, an antibiotic
used for fattening the livestock. Thus, the growing implementation of the
antibiotic ban by regulatory bodies is projected to hamper the market growth
over the forecast period.
For Full Research Report On Animal Feed Additives Market Visit Here:
https://www.grandviewresearch.com/industry-analysis/animal-feed-additives-market
Further key
findings from the report suggest:
- In terms of revenue, Asia
Pacific emerged as the fastest growing region and is projected to continue
its dominance, with India and China likely to witness a remarkable growth
in next seven years
- Poultry emerged as the
largest livestock segment in 2019, with a market share of more than 37% in
terms of volume
- The animal feed additives
market is highly fragmented and competitive in nature with presence of
well-established players
- AFB International; Alltech;
Kemin Industries Inc.; Evonik; DuPont; DSM; Nutreco N.V.; Archer Daniels
Midland; and Cargill are the major players operating in the market
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Grand View Research has segmented
the global animal feed additives market report on the basis of product, livestock,
and region:
Animal Feed
Additives Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)
- Antibiotics
- Vitamins
- Vitamin A
- Vitamin E
- Vitamin B
- Vitamin C
- Other
- Antioxidants
- Amino Acids
- Tryptophan
- Lysine
- Methionine
- Threonine
- Others
- Feed Enzymes
- Phytase
- Non-starch Polysaccharides
& Others
- Feed Acidifiers
- Others
Animal Feed
Additives Livestock Outlook (Volume, Kilotons; Revenue, USD Million, 2016 -
2027)
- Pork/Swine
- Poultry
- Cattle
- Aquaculture
- Others
Animal Feed
Additives Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2016 -
2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Spain
- Russia
- Asia Pacific
- China
- Japan
- India
- Vietnam
- Central & South America
- Brazil
- Middle East & Africa
- South Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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