The global Feed Additives market was valued at 33 billion US dollars in the year 2021 and is expected to increase to 44.3 billion US dollars in the year 2026. It is also estimated to garner a compound annual growth rate of 6.1% during the forecast period of 2021 to 2026.
The growth in the feed production and technological innovations and increase in the demand and consumption of livestock-based products propels the growth of the market of Feed Additives revenue rate during the outlook period.
Corona has affected the entire world since December 2019 that spread almost 180 countries in the world. World health organization has announced it as a global pandemic and suggested all the countries to impose the strict lockdown in each and every locality. Government authorities has announced strict lockdown with all the industries and manufacturing units to halt their production.
The COVID-19 has impacted in every sector like restaurants, manufacturing units, flights, travelling and so many sectors to halt their services. This pandemic has affected the business mainly in three ways, directly effecting the production, creating supply chain and market disturbance and by financially.
Due to the coronavirus, Feed Additives market is also facing difficulties and caused huge financial losses for the manufacturing industries due to financial crisis they had faced. Industry experts are predicting that the market will boost up and will be back to the normal stage once the vaccine has released. In most of the countries, the government have already lifted the lockdown and also gave permission for the manufacturing companies to start their businesses with strict rules and regulations. As the companies have started their manufacturing units, the market of Feed Additives will get back to the normal stage and also get profits in the near future.
Feed Additives Market Drivers:
One of the major driving factors that helps the growth of the Feed Additives market is the rising focus on livestock growth and welfare. Increase in the demand and consumption of livestock-based products such as dairy & dairy based products, meat and eggs is another major growth factor of Feed Additives market.
Growth in the feed production and huge investments contributed for the innovation of advanced technologies is another major driving factor that will increase the revenue of Feed Additives market.
Sustainability of feed and livestock is one of the major challenging factors that is affecting the growth of the Feed Additives market.
Another major restraint to the growth of the Feed Additives market is the restriction on the use of antibiotics as a growth promoter in feed in most of the countries, which forced the companies to stop using antibiotics in feed additives that led to the limitations in this market growth.
Strict regulations required for approving new product into the market is another growth effecting factor of Feed Additives business.
Recent Market Developments:
In 2017, Cargill company has expanded its facility in Ohio with the production capacity of 86000 metric tons of animal nutrition products per year. Furthermore, the company also opened a facility in Philippines in 2017 to meet the rising demand from the large and medium sized livestock farms and feed millers in Philippines and Southeast Asian countries.
The global Feed Additives market is segmented on the basis of type, on the basis of livestock, on the basis of form, on the basis of source, on the basis of region.
On the basis of type, the Feed Additives market is segmented into vitamins and minerals, acidifiers, amino acids, phosphates, caretonoids, enzymes, mycotoxin detoxifiers, flavors & sweeteners, antibiotics, antioxidants, and others. Among these, the mineral segment holds the major share of the market in terms of volume as they are essential for sustaining and improving the health of the livestock.
On the basis of livestock, the market of Feed Additives is bifurcated into ruminants, poultry, swine, aquatic animal and others. The ruminants segment is further segmented into dairy, beef, calf, goats and sheep. The poultry segment is again sub divided into broilers, layers and breeders.
On the basis of form, the market of feed additives is segmented into dry and liquid. Among these, the dry segment holds the major share of the market because they are having high demand among livestock producers as they are easy to mix the feed and easy to handle and store.
On the basis of source, the market of feed additives is mainly bifurcated into natural and synthetic.
Feed Additives Market Regional Analysis:
The Feed Additives market is elaborated in various regions all around the world such as North America (US, Mexico, Canada and rest of North America), Europe region (Germany, Spain, Italy, UK, France, and rest of Europe), Asia Pacific region (India, Japan, China, Australia and rest of Asia Pacific) and rest of the world.
Among these regions, Asia Pacific holds the major share of the market attributed to the presence of large livestock population and growth. In addition to this, increase in the number of feed mills in the Asia Pacific region reflects the growth in the feed production. This area is also estimated to continue its dominance during the outlook period.
North America region is expected to have the second largest share of the market due to increase in the demand and consumption of livestock-based products that propels the growth of the market for Feed Additives in this locale.
Europe region is also having a good market share because of the huge investments by the companies for the research and development for the new technological advancements in the field.
Key market players:
Some of the key players of the global Feed Additives market are Solvay (Belgium), Ajinomoto (Japan), Novozymes (Denmark), Cargill (US), DowDuPont (US), ADM (US), Evonik (Germany), BASF (Germany), DSM (Netherlands), InVivo (France), Nutreco (Netherlands), Kemin (US), Adisseo (France), Chr. Hansen (Denmark) and Alltech (US)
All the companies related to the Feed Additives market are focusing more on the R & D initiatives and are investing more to strengthen their market and also to compete with other companies economically.
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Feed Additives Market, By Type
6.1.1 Vitamins and Minerals
6.1.3 Amino Acids
6.1.7 Mycotoxin Detoxifiers
6.1.8 Flavors & Sweeteners
6.1.11 Market Size Estimations & Forecasts (2019-2024)
6.1.12 Y-o-Y Growth Rate Analysis
6.1.13 Market Attractiveness Index
6.2 Feed Additives Market, By Livestock
6.2.4 Aquatic Animal
6.2.5 Market Size Estimations & Forecasts (2019-2024)
6.2.6 Y-o-Y Growth Rate Analysis
6.2.7 Market Attractiveness Index
6.3 Feed Additives Market, By Form
6.3.3 Market Size Estimations & Forecasts (2019-2024)
6.3.4 Y-o-Y Growth Rate Analysis
6.3.5 Market Attractiveness Index
6.4 Feed Additives Market, By Source
6.4.3 Market Size Estimations & Forecasts (2019-2024)
6.4.4 Y-o-Y Growth Rate Analysis
6.4.5 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Livestock
7.2.4 By Form
7.2.5 By Source
7.3.1 By Country
184.108.40.206 Rest of Europe
7.3.2 By Type
7.3.3 By Livestock
7.3.4 By Form
7.3.5 By Source
7.4 Asia Pacific
7.4.1 By Country
220.127.116.11 South Korea
18.104.22.168 South East Asia
22.214.171.124 Australia & NZ
126.96.36.199 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Livestock
7.4.4 By Form
7.4.5 By Source
7.5 Latin America
7.5.1 By Country
188.8.131.52 Rest of Latin America
7.5.2 By Type
7.5.3 By Livestock
7.5.4 By Form
7.5.5 By Source
7.6 Middle East and Africa
7.6.1 By Country
184.108.40.206 Middle East
7.6.2 By Type
7.6.3 By Livestock
7.6.4 By Form
7.6.5 By Source
8. Key Player Analysis
8.1 Solvay AG
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.4 Cargill Inc
8.8 BASF SE
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures