Feed Additives Market Expected to Reach USD 52.2 billion by 2027
Increase in feed production, creative animal husbandry practices, standardization of meat quality and products, and growth in consumption of animal- based products have led to increase in growth of Feed additives market. Global Feed Additives market was valued at USD 36.5 billion in 2020, and it is expected to grow till USD 52.2 billion by 2027, with increase in CAGR of 5.2%during the forecast period from 2021 to 2027.
Feed additives are the products that are used in animal nutrition in order to increase the quality and standards of feed and the food obtained from animal source. These act as an extra nutrition for livestock. This also helps to improve the health and digestibility of animals. Feed additives requires strict authorization, regulations, and approval from scientists before launching into the market. These additives should not have side effects or any effects on human, animal health and environment. This includes vitamins, minerals, fatty acids, pharmaceutical ingredients, hormones and fungal products which are consumed from external sources. Every country has its own set of regulatory guidelines which have an impact on the feed additive industry especially in developing countries. For example, use on antibiotics are banned in Europe because of its harmful effects on animal and human health. Also, increase in production, consumption and exportation of meat, in Asia- pacific regions stimulates the growth of feeds market. Considerably, India, being a developing country, has initiated grant for exporters of animal-based products to aim for enhancing feed additive market growth in the region.
The demand for nutritional animal-based food has reached at its highest, which is cost effective across the globe and this is one of the important factors for supporting manufacturing of feed additives products throughout world. Global Nutrition International is targeting to develop new strategies in the search and application of feed additives and animal nutrition for the advantage of poultry industry. They also aim to expand their supply chain for the effective sufficiency of high quality of meat food across population of world.
Various organizations and animal feed production industries are taking initiatives for the promotion of value and need of proper animal feed additives and livelihoods. Cargill, one of the organizations who provides PROMOTE*additives campaign where additive feeds are promoted across the industries in order to bring the attention of manufacturers, retailers and animal caretakers to enhance and understand the profit and challenges in the feed additive market.
The increased in per capita income, health awareness, there has been a huge growth and shift towards the nutritious food. This ultimately directs towards the use of dietary food like milk, eggs, seafood, meat etc in order to increase in consumption of high protein rich diet. During Covid-19 period, the demand for animal-based food products like eggs and meat is increased as they act as immunity booster. Looking towards the demand and production of animal-products, high growth in the feed additive industry is expected.
- Based on additive type, phytogenic segment is expected to dominate the feed additive market during forecast period. This includes oils, herbs and spices which promote the health and growth of the body.
- Based on the animal type, poultry segment is expected to grow with the highest rate during the forecast period due to high consumption of poultry-based products.
- Based on form, dry form of feed additives accounted the largest share of the feed additive market in 2020 as it provides ease to handle and store.
- Based on geographical region, Asia- Pacific segment is expected to grow with highest rate during the forecast period as demand for animal-based products have increased.
- In September 2020, Evonik launched guanidinoacetic acid-product (GAA), GuanAMINO, a feed additive, across the globe to enhance energy metabolism in farm animals’ production. The company manufacture their products in China and commercialize across the world.
- In October 2019, EU-US Feed Industries to join forces to tackle global challenges linked to sustainable and safe feed production.
The Global Feed Additive Market Segmentation:
By Additive type
- Amino acids
- Mycotoxin detoxifiers
- Flavors & sweeteners
- Non-protein nitrogen
By Animal type
- Aquatic animals
- Other livestock (equine and pet food)
By geographical region
- North America
- Asia- Pacific
- South America
- Middle East & Africa
Company Profiles and Competitive Intelligence
The key players operating in the market are:
- Cargill (US)
- ADM (US)
- Dupont (US)
- Ajinomoto (Japan)
- Novozymes (Denmark)
- Chr Hansen (Denmark)
- TEGASA (Spain)
- Nutreco (Netherlands)
- Kemin Industries Inc. (US)
- Adisseo (France)
- Alltech (US)
- Palital Feed Additives B.V. (Netherlands)
- Global Nutrition International (France)
- Centafarm SRL (Italy)
- Bentoli (US)