Global Feed Additives Market Expected to Reach $31,387 Million by 2025
 

Global Feed Additives Market Expected to Reach $31,387 Million by 2025


Progressive Markets has published a report, titled,Feed Additives by Type, Livestock, Form, and Function: Global Opportunity Analysis and Industry Forecast, 2017 - 2025,the global feed additive market was valued at $19,642 million in 2017 and is projected to reach $31,387 million by 2025, growing at a CAGR of 6.0% during the forecast period (20172025). Based on type, the amino acids segment accounted for more than one-fourth share of the global feed additives market in 2017.

Feed additives are food supplements used for farm animals that include vitamins, amino acids, fatty acids, and minerals. Since the global demand for meat and poultry products is growing rapidly, the adoption of safe and affordable feed additives is increasing in the end-use sectors. In addition, feed additives are gaining traction in the pet food segment, as the trend of pet humanization promotes health and well-being of pets.

Livestock production on an industrial scale has fueled the increase in demand for meat and meat products. Mergers and acquisitions adopted by companies such as BASF SE and ADM, facilitate the expansion of the livestock industry. Policies related to development of livestock have helped boost the growth of industrialization in the animal industry. As per a study conducted by the World Bank, the demand for industrialized meat production is expected to rise six times faster than the traditional meat production methods. Industrialization of meat production has promoted the concept of landless meat production facilities. Thus, meat production in developed countries has increased, majorly due to optimum usage of land and allied resources. For instance, in the U.S., the concept of concentrated animal feed operations (CAFO) has gained popularity in the past, and similar kinds of models are actively adopted in other parts of the world. The support of government and other financial organizations is expected to boost the demand for feed additives. Industrialization in this sector has fueled the use of advanced production processes to manufacture high-quality feed for livestock, which in turn has fueled the demand for feed additives.

The amino acids segment accounted for 23.4% share, in terms of volume, in 2017. Amino acids can be provided through food products such as soybean meal, cereals, and others. The ongoing R&D activities to determine the exact requirement of each essential amino acid for animals is contributing to the market growth. These requirements depend on livestock species, their life stage, and health status. For instance, the amino acid requirement for piglets will be different from that of an adult pig. Therefore, feed additive manufacturers are focused on formulating the best available diets to ensure optimal performance with the lowest environmental impact.

Some of the leading manufacturers profiled in this report include Addcon Group GMBH, Aliphos Belgium SA, Archer Daniels Midland Company, BASF SE, Cargill Incorporated, Evonik, Kemin Industries, Inc., Koninklijke DSM N.V., SHV Holdings N.V., and Phibro Animal Health Corporation.

 

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