Asia Pacific Feed Preservatives Market was worth $2.51 billion in 2021 and estimated to be growing at a CAGR of 8.47%, to reach $3.12 billion by 2026.
The market is predicted to show evident potential in the given forecasting period. The market continues to build momentum with increasing awareness regarding feed management practises and customization in formulations to reduce costs for production and improve livestock health, which has resulted in an increase in investments on high quality feed products thus creating the need for preservatives.
Feed Preservatives can be categorized in a bunch of additives for feed like feed acidifiers, antioxidants etc. which are used for maintaining a better hygiene for animals and hence improving their productivity. They are basically used for improvement in feed quality by increasing the content of nutrients in the animal feed.
Drivers and Restraints of Asia Pacific Feed Preservatives Market:
There are various factors contributing to the growth of the Feed preservatives market and thus being responsible for the market to show such potential in the mentioned period. The major factors include, unpredictable crop harvest patterns which have led to the need for feed storage and regulatory requirements to improve feed quality. Further, Industrialization in the poultry sector across developing markets has also driven the growth of the market. As far as restraints and challenges are concerned there has been just one key factor holding down the market from reaching its potential recently which is, the limited margins of profit in the End Product. Due to these low profits the market has experienced lower investments than expected.
Asia Pacific Feed Preservatives Market - By Type:
Asia Pacific Feed Preservatives Market - By Livestock:
Asia Pacific Feed Preservatives Market - By Feed Type:
Major Key Players:
Some of the major companies dominating the market, by their products and services include E.I. Dupont De Nemours and Company, BASF SE, Nutreco N.V., Novus International Inc., Alltech Inc., Perstorp Holding AB, Cargill Inc., Biomin Holding GmbH, Kemin Industries Inc., Impextraco NV.
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