Animal Feed Additives Industry Overview
The global animal feed additives market size is expected to reach USD 53.7 billion by 2030, as per a new report by Grand View Research, Inc. Furthermore, the industry is projected to advance at a CAGR of 3.5% from 2022 to 2030. The growth is majorly driven by the increased consumption of meat and the rise in the livestock population worldwide.
Animal Feed Additives Market Segmentation
Grand View Research has segmented the global animal feed additives market on the basis of product, livestock, and region:
Based on the Product Insights, the market is segmented into Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers, Others.
- The amino acids segment dominated the animal feed additives market with a revenue share of over 34% in 2021. Its high share is attributable to the increasing demand for meat and the growing population of livestock globally. It supports the growth of livestock and thus is an essential component of animal feed.
- Amino acids consist of properties that supplement the growth in animals and prevent them from diseases. They consist of lysine, methionine, and cysteine, among others. They are essential in protein synthesis and also prevent diseases like herpes in livestock.
- The vitamin product segment accounts for the second-largest revenue share after amino acids. Vitamins are as essential for animal growth as they are for humans. The deficiency of vitamins may hinder the growth of animals and stop them from reaching their full potential.
- The vitamins product segment includes different types of vitamins such as Vitamin A, B, C, D E, and others. They are added to animal feed to ensure the proper growth of the livestock, making them fit for end-use industries such as milk and milk-based products, meat, and others. The mounting demand from the meat and milk industry is likely to drive the market globally.
Based on the Livestock Insights, the market is segmented into Pork/Swine, Poultry, Cattle, Aquaculture, Others.
- The poultry segment dominated the market with a revenue share of more than 37% in 2021. Its significant share is attributable to the increasing demand for poultry-based products such as meat and eggs across the globe. Poultry refers to ducks, chickens, geese, and other domestic birds which are bred for commercial as well as domestic purposes.
- Animal feed additives increase the nutritional value of the feed given to poultry animals. Poultry animals are usually bred in captivity; therefore, they are likely to develop deficiencies. These additives ensure that the livestock does not develop any deficiencies and grow to their full potential.
- Maintaining the health of the livestock in the poultry industry is very critical, as diseased livestock may incur huge losses. Thus, poultry breeders use extra precautions for maintaining the health of the livestock by using appropriate feed additives such as enzymes, antioxidants, vitamins, and acidifiers, among others.
- Majorly used pork feed additives include antimicrobials, antioxidants, binders, emulsifiers, enzymes, and pH control agents. These additives help in driving high efficiency, productivity, and profitability in the meat industry. The pigs which are bred for meat are fed the pork feed with additives to attain the desired results and increase the profit of the breeders.
Animal Feed Additives Regional Outlook
- North America
- Asia Pacific
- Central & South America
- Middle East & Africa (MEA)
Key Companies Profile & Market Share Insights
The global market for animal feed additives is highly competitive. The players involved in the market are heavily involved in product enhancements to gain an edge over competitors. The fluctuating prices of raw materials such as corn and maize significantly affect additive prices and further influence the market growth.
Some prominent players in the global animal feed additives market include
- AFB International
- Kemin Industries, Inc.
- Vitablend Asia Pacific Pte. Ltd.
- Kalsec, Inc.
- Ameri-Pac, Inc.
- BASF SE
- Evonik Industries AG
- FoodSafe Technologies
- Lallemand, Inc.
- Nutreco N.V.
- Biomin Holding GmbH
- Adisseo France S.A.S.
- Archer Daniels Midland
- Penny Newman
Order a free sample PDF of the Animal Feed Additives Market Intelligence Study, published by Grand View Research.
About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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