The global animal feed additives market was valued at USD 34.01 billion in 2019 and is expected to reach USD 48.21 billion by 2027, growing at a CAGR of 4.63% from 2020 to 2027.
Animal feed additives are the extra nutrients or drug for livestock. Feed additives consists amino acids, fatty acids, pharmaceuticals, steroidal compounds, vitamins, minerals, and fungal products. Animal feed is used for digestibility or intestinal health of animal, and to maintain hygiene of animal.
Increase in meat consumption is expected to boost the global animal feed additives market growth. Furthermore, rise in industrial livestock production will have the positive impact on global animal feed additives market growth. Moreover, increase in developments in veterinary medicines is expected to global animal feed additives market growth. In other hand, growing nutritional deficiency in farm animals will raise the need for animal feed additives, which is expected to global feed additives market growth.
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However, government regulations and policies regarding use of antibiotics in animal feed is the major restraining factor which is expected to hinder the growth of global animal feed additives market growth. Also, volatile raw material prices as well as increase in veganism will affect the growth of global animal feed additives market growth. Also ban on antibiotics in Europe and in the U.S. is expected to open up the market for replacement products such as enzymes, acidifiers and amino acids. Moreover, overlapping demand for major grains such as wheat, maize and barley from other commercial applications of food and biofuel is also expected to hamper market growth over the forecast period
Global Animal Feed Additives Market Segmentation
Global Animal Feed Additives Market is segmented into types such as Anti-Oxidants, Antibiotics, Feed Enzymes, Feed Prebiotics, Vitamins, Minerals, Amino Acids, Fatty Acids, Essential Oils, and Others, by end users such as Farms, Households, Veterinarians, Zoos, and Animal Shelters.
Also, Global Animal Feed Additives Market is segmented into five regions such as North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
Global Animal Feed Additives Market Key players
Various key players are discussed in this report such as AFB International, Novozymes A/S, Novus, du Pont De Nemours and Company, Lesaffre, Nebraska Cultures, Inc, Lallemand inc, Cargil Incorporated, BASF SE, Elanco, Adisseo, and Alltech.
North America feed additive market revenues were estimated to be USD 8,788.9 million in 2020 and are expected to grow at a CAGR of 4.68% from 2020 to 2027. Growing consumer shift for organic meat is expected to be a key challenge for the market over the next few years. The increase in global energy costs is fast becoming a major factor in feed production, impacting upon the costs of feed ingredients and manufacturing as well as delivery.
Global Animal Feed Additives Market Taxonomy
By End User
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