Animal Feed Additives Market Overview

Segmentation Analysis of Animal Feed Additives Market 2024

Top trends driving the global Animal Feed Additives Market 2024

Global animal feed additives market covers market sizing and forecast, market share, industry trends, growth drivers, and vendor analysis.

CHICAGO, IL, UNITED STATES, October 24, 2019 /EINPresswire.com/ -- The global animal feed additives market is expected to grow at a CAGR of over 5% during the period 2018−2024.

Reduction in the use of antibiotics, increased demand for phosphates in animal feed, growing trend of premium breeding and organic production are the factors that are likely to contribute to the growth of the animal feed additives market during the forecast period.

The need to increase livestock productivity is one of the major reasons driving the market. Also, the growing awareness of animal well-being, sustainable farming, and proper animal nutrition is increasing market growth. Poultry is the largest segment with APAC accounting for the largest market share for the segment. However, the aquaculture segment is expected to grow at the fastest CAGR during the forecast period. The demand for aquaculture feed additives is increasing in the US, Nordic, and South Africa. The demand for sustainable nutrients, the consumption of antibiotic-free products, and the growing awareness of organic animal farming practices are other major catalysts for the changing animal feed industry.

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The market research report includes detailed market segmentation by product, species, form, and geography.

Market Segmentation by Product

• Amino Acids
• Vitamins
• Minerals
• Eubiotics
• Antibiotics
• Others

While the amino acids segment accounts for the largest share of the market, the eubiotic segment is expected to grow at the highest CAGR during the period 2018−2024. Amino acids are one of the key nutrients used for the healthy well-being of livestock. Hence, the rise in environmentally sustainable is an important factor for segment growth. The APAC market is expected to post an absolute growth of 34% by 2024. The need to improve the livestock quality is expected to be a major driver for the vitamin segment during the forecast period.

Market Segmentation by Species
• Poultry
• Cattle
• Swine/Pork
• Aquaculture
• Others

Poultry is the largest segment in the animal feed additives market. The growing demand for high protein diets and the increasing population growth are augmenting well for the poultry segment. The market will be driven majorly by the US, China, Brazil, however, emerging economies are likely to be the fastest adopter of poultry supplements during the forecast period. Factors such as increased awareness of organic nutrients and the high demand for poultry products are likely to boost the market growth. APAC is the largest market for swine feed and accounted for a market share of approx. 35% in 2018. China, Japan, South Korea, the Philippines, and Vietnam are key markets driving the demand for swine supplements in the region due to high swine meat production.

Market Segmentation by Form
• Liquid
• Dry

Liquid form supplements are the largest segment in the global market. The demand is growing due to easy handling and mixing with supplements. They are excellent carriers and are nutrient-rich. Convenience and cost-effectiveness of liquid form nutrients are major factors boosting the growth of the market segment. While China, India, Indonesia, and Japan are the major markets for liquid form, the US is expected to boost the demand for liquid nutrients during the forecast period.

Market Segmentation by Geography
• North America
o US
o Canada
• APAC
o China
o Japan
o Australia
o India
• Europe
o UK
o Germany
o France
o Russia
o Spain
• MEA
o Saudi Arabia
o South Africa
• Latin America
o Brazil
o Mexico

APAC is the largest animal feed additives market globally. A large livestock population in the region is driving the demand in the region. Further, the increased awareness of advanced animal farming techniques is fueling the demand in the region. Europe constitutes the second-largest market share globally. The growing demand for protein-rich food in the region is boosting the market. Further, the demand for high-quality nutrients is increasing in the Europe market as livestock production is growing at a significant rate. North America is one of the major exporters and consumers of meat. The US accounted for more than 80% of the North America animal feed additives market in 2018. The growing demand for high-quality meat, sustainable animal farming, and increased export will drive the demand in the North America market. Brazil, Mexico, Argentina are the key contributors to the market. High meat production, growing exports, and increasing nutrient costs are contributing to the market growth in the region.

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Key Vendors Analysis

The global animal feed additives market is consolidating and competitive as vendors are competing in terms of quality, innovation, and pricing. Thus, consumer choices and preferences differ from region to region and keep changing over time in response to geographical, demographic, and social trends, economic circumstances, and marketing efforts of competitors. Due to the highly competitive and volatile environment, the future market growth mainly depends on the ability to anticipate, gauge, and adapt to the constantly changing market trends and successfully introduce new or improved products in a timely manner. The market concentration is likely to grow, and global players operating in the market are expected to grow via non-organic strategies. New companies may lose market share because of the introduction of technologically advanced and innovative products from vendors with high promotional expenditure. Vendors also need to remain abreast with the upcoming products to have a competitive advantage over other vendors. An increase in competition and business expansion could lead to vendors increasing their promotional and advertising expenses as well as research and development costs, which may place pressure on their margins and affect their profitability.

Key Vendors
• ADM
• Alltech
• BASF Group
• Cargill
• DSM
• DuPont
• Nutreco

Other Prominent Vendors
• AB Vista
• Adisseo
• Advanced Enzymes
• Biovet
• Boehringer Ingelheim
• Chr. Hansen
• Elanco
• Evonik
• Kemin
• Lallemand
• Land O’ Lakes
• Novozymes
• Perstorp
• Zoetis

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