The global animal feed additives market size is expected to reach USD 53.71 billion by 2030, registering a CAGR of 3.5% from 2024 to 2030, according to a new report by Grand View Research, Inc. Focus on improving overall feed yield has been a key factor driving the product demand. Increasing consumption of meat and milk products as a source of protein and other nutrients is expected to boost global industry growth in the coming years. Other prominent factors driving the product demand include increasing meat consumption, a rise in oilseed production, and demand for other livestock products.
Factors, such as immunity-building and promoting animal growth, are likely to drive the demand for amino acids. It also plays an essential role in preventing cerebral dysfunction, which can cause muscular incoordination in animals. Growing energy requirements across the globe are creating a higher requirement for processed aqua, poultry, and dairy products, which is contributing to the rising product demand. Most of the projected growth is likely to come from the developing economies of the Asia Pacific region. This is on account of the growing population along with increasing consumer disposable income levels.
Many leading manufacturers are focusing on expanding their operations in the Asia Pacific region due to potential business opportunities as a result of a growing focus on the dietary needs of animals. The global industry is extremely competitive. The introduction of customized products in conjunction with application development is expected to be a key factor driving the industry competition. In addition, frequent mergers and acquisitions are undertaken to diversify the product portfolio and gain a higher industry share.
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The amino acids product dominated the global industry in 2023 and accounted for the largest share of 35.14% of the overall revenue due to the rising awareness about the benefits of feed additives in tandem with some significant outbreaks of diseases
The poultry livestock dominated the industry in 2023 and accounted for the largest share of 29.70% of the overall revenue on the account of increasing demand for broiler meat and rapid industrialization of poultry farming
Asia Pacific is projected to register the fastest CAGR from 2024 to 2030 due to increasing meat consumption, a rise in oilseed production, and demand for other livestock products
The industry is highly competitive on the account of the presence of multiple manufacturing companies
The COVID-19 pandemic had put the majority of the world on lockdown, which had a detrimental impact on the operations of many businesses, including animal feed, and is inhibiting the expansion of the market for animal feed additives
Grand View Research has segmented the animal feed additives market on the basis of on product, source, form, livestock, and region:
Animal Feed Additives Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Antibiotics
Vitamins
Vitamin A
Vitamin E
Vitamin B
Vitamin C
Other Vitamins
Antioxidants
Amino Acids
Tryptophan
Lysine
Methionine
Threonine
Other Amino Acids
Feed Enzymes
Phytase
Non-Starch Polysaccharides & Other Feed Enzymes
Feed Acidifiers
Phosphates
Carotenoids
Mycotoxin Detoxifiers
Flavors & Sweeteners
Minerals
Non-Protein Nitrogen
Phytogenics
Preservatives
Probiotics
Other Products
Animal Feed Additives Source Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Natural
Synthetic
Animal Feed Additives Form Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Dry
Liquid
Animal Feed Additives Livestock Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)
Pork/Swine
Poultry
Cattle
Aquaculture
Other Livestock
Animal Feed Additives Regional Outlook (Volume, Kilotons; Revenue, USD Billion, 2018 - 2030)
North America
U.S.
Canada
Mexico
Europe
Germany
U.K.
France
Italy
Spain
The Netherlands
Belgium
Russia
Asia Pacific
China
India
Japan
South Korea
Thailand
Vietnam
Indonesia
Central & South America
Brazil
Argentina
Middle East & Africa
Saudi Arabia
South Africa
List of Key Players of the Animal Feed Additives Market
ADM
Ajinomoto Co., Inc.
Alltech, Inc.
ANOVA Group
BASF SE
BIOMIN Holding GmbH
Cargill Inc.
Centafarm SRL
Chr. Hansen Holding
DSM
Evonik Industries
HONG HA NUTRITION
International Flavors & Fragrances, Inc.
Kemin Industries, Inc.
Novozymes
Novus International, Inc.
Olmix Group
Solvay S.A.
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