Press release
Feed Additives Market 2024-2033: Size, Share & Competitive Landscape Analysis
The feed additives market size is expected to see strong growth in the next few years. It will grow to $26.41 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to focus on animal welfare, sustainable and organic farming practices, precision livestock farming, regulatory changes, global population growth.. Major trends in the forecast period include technological advancements in feed additive production, nutrigenomics in feed formulation, strategic partnerships and collaborations, regulatory compliance and transparency, digitalization and precision livestock farming..
Market Overview -
Feed additives refer to animal nutrition products that are used to improve the quality of animal food, in addition to animals' performance and health. Feed additives contain numerous chemicals, substances, or organisms that increase nutritional ingestion, absorption, and assimilation.
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Rising Meat And Dairy Consumption Fueling Growth In The Feed Additives Market
The growing meat and dairy products are expected to propel the growth of the feed additives market going forward. Meat, which is defined as the flesh of animals (including fish and birds) that is consumed as food and can be a part of a healthy diet, and dairy products include milk and any milk-based foods such as butter, cheese, ice cream, etc. Feed additives are products that are added to animal feed to help meet the animals' nutritional needs. It encourages the production of meat and dairy products in order to improve the quality of animal feed and food. For instance, in May 2022, according to a report published by Government of Canada official website, Canadian consumers' per capita meat consumption was Can$601.1 in 2021, up from Can$523.9 in 2017, and is expected to rise to Can$723.1 by 2026. Therefore, growing meat and dairy products are driving the growth of the feed additives market.
Competitive Landscape -
Major companies operating in the feed additives market report are Cargill Incorporated, Archer-Daniels-Midland Company, DuPont de Nemours Inc., Evonik Industries AG, BASF SE, Koninklijke DSM N.V., Novozymes A/S, Chr. Hansen A/S, Nutreco N.V., Kemin Industries Inc., Alltech Inc., Ajinomoto Co.Inc., Adisseo Co. Ltd., Tegasa, Palital Feed Additives B.V., Solvay S.A., Anpario plc, Biomin Holding GmbH, BioResource International Inc., Biovet JSC, Calysta Inc., Danisco Animal Nutrition, Devenish Nutrition, DSM Nutritional Products AG, Elanco Animal Health Inc., Enzyme Innovation, Feedworks USA Ltd., Global Animal Products Inc., Kalsec Inc., Lesaffre Group, Novus International Inc., Phibro Animal Health Corporation, QualiTech Inc., Wacker Chemie AG .
Innovative Products To Enhance Animal Health And Performance
Major companies operating in feed additives are focused on developing innovative products to strengthen their position in the market. For instance, in February 2021, Kemin Industries Inc., a US-based manufacturer of specialty ingredients for several industries, including human/animal health and nutrition, pet food, aquaculture, launched KemTRACE Chromium-OR, a water-soluble, highly bioavailable, organic-compliant chromium propionate feed ingredient for use in swine, cattle, broiler, and horse diets. It helps in improving the maintenance, reproduction, growth, and immunity of swine, cattle, broilers, and horses. Additionally, it improves glucose utilization and reduces the negative impacts of stress for increased cellular energy and function in animals.
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Key Segments -
The feed additives market covered in this report is segmented -
1) By Product Type: Amino Acids, Phosphates, Vitamins, Acidifiers, Carotenoids, Enzymes, Mycotoxin Detoxifiers, Flavors And Sweeteners, Antibiotics, Other Products
2) By Livestock: Poultry, Ruminants, Swine, Aquatic Animals, Other livestocks
3) By On Source Type: Synthetic, Natural
4) By Form: Liquid, Dry
Key highlights covered in the report -
1. Detailed market size forecast and historical data analysis
2. Key drivers influencing market growth
3. Identification of upcoming trends and potential opportunities in the market
4. Analysis of major players strategies, to understand competitive dynamics and market positioning
5. Evaluation of regional dynamics
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