Feed Additives Market Size and Trends by Type (Amino Acids, Vitamins, Carotenoids, Enzymes, Prebiotics & Probiotics, Minerals, Acidifiers, Lipids, and others), Form (Dry and Liquid), Livestock (Poultry, Swine, Ruminants, and others) and Region (North America, Europe, Asia-Pacific, Rest of the World) – Forecast till 2030
New York, US, Nov. 01, 2022 (GLOBE NEWSWIRE) — Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Feed Additives Market Information by Type, Form, Livestock and Region – Forecast till 2030”, the market is estimated to acquire a size of over USD 49.4 Billion by the end of 2030. The report further predicts the market to thrive at a healthy CAGR of over 7.2% during the review timeframe.
The fundamental purpose of animal feed is to provide the animal with the nutrients it needs for growth, development, productivity, and reproduction. Roughage makes up the bulk of most livestock animals’ maintenance rations, and the industry as a whole has suffered as a result of poor performance and reduced returns due to the manufacture and usage of low-quality feed. Depending on the quality of the roughage supplied, different supplements/additives will be necessary to strike a profitable balance between feed cost, livestock animal performance, and product quality. Depending on the age and species of livestock animal, feed additives can make up anywhere from 3-5% of the total feed material supplied to the animals. Roughly seventy percent to eighty percent of all cattle production expenditures are attributable to feed. Improved financial returns can only be achieved by providing livestock with the nutrition they need.
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The most dominant companies in the industry are emphasizing strategic alliances, mergers, and acquisitions as a means of expanding their businesses and strengthening their positions in the market. The major players of the market are
Increased emphasis is being placed on feed additives in the cattle industry. Not technically nutrients, feed additives are added to the ration in modest doses to boost feed efficiency, animal health, and livestock product output. In cattle production, many feed additives (including vitamins, minerals, fatty acids, etc.) are employed. Feed additives are used to improve economic returns by increasing feed efficiency and rate of gain.
All of a farm animal’s nutritional needs can be met by the feed that is supplemented with feed additives. Feed additives are purchased by feed mills, which use them in the production of compound feed for animals. The rise of the market for feed additives does not account for the increasing popularity of food supplements bought from farmers to improve the taste of meals cooked at home.
Concerns about roughage quality and nutrition, commercialization of livestock farming, rising livestock farm sizes, shrinking grazing spaces, the high value of feed ingredients, and the requirement for feed efficiency are all drivers propelling the worldwide feed additives market. The high cost of products compared to farm-grown feed ingredients, a lack of disposable income, insufficient extension and awareness, a lack of infrastructure, and a reliance on locally available crop leftovers to feed the animals are all challenges that are expected to slow the expansion of the market.
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Animals’ growth and development can be negatively impacted by a lack of nutrients in the diet, and in extreme circumstances, the animals’ health might be permanently damaged or lost altogether. The necessity for high-value animal feed additives is highlighted by the fact that modern farming techniques that aim to optimize productivity often leave animals without sufficient amounts of vital minerals and vitamins. The expansion of the market for animal feed additives has slowed because to supply chain disruptions and the worldwide lockdown.
At a high compound annual growth rate, the amino acids market should expand during the assessment period.
The Dry category, which is broken down by product type, is predicted to grow at a significant CAGR during the assessment period.
The swine industry is predicted to grow substantially throughout the study period.
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The growing number of meat eaters in the United States is largely responsible for the rising need for animal feed additives in the country. The global market is directly impacted by the United States’ rigorous norms and requirements for beef production. The market for animal feed additives is mature, and it is governed by authorities who are committed to maintaining international standards. Since it serves as a supplement to the animal feed and meat industries, it is highly sensitive to shifts in both sectors.
It stands to reason that Europe, with its high per capita consumption of meat, would also use a disproportionately high quantity of animal feed additives. The need for animal feed additives is further affected by the fact that Europe has the world’s largest population of meat eaters. A major factor that is expected to boost the market for animal feed additives in this region during the forecast period is the increasing demand for meat in the region.
Revenue-wise, more than 33% of the market in 2021 came from the Asia-Pacific region. This big percentage can be attributed to the region’s rising population, rising standard of living, and large number of livestock breeders. In order to formulate their feed, the many local animal producers need access to premium ingredients. The increased demand for animal feed additives in the region is a direct result of the rising spending power of the population and the raising of living standards in the region, which has led to a rise in meat consumption. Also, both population and consumption are on the rise in the Asia-Pacific region. As people’s incomes and standard of livings improve, they can afford more meat, which is expected to fuel the market.
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