The Global Feed Additives Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape etc. According to the report the Global Feed Additives Market is estimated to be USD 25.43 billion and predicted to rise to 31.69 USD billion with a CAGR of 4.5%. The market is segmented by Type (Antibiotics, Antioxidants, Amino Acids, Enzymes, Vitamins, Mycotoxin Detoxifiers, Prebiotics, Acidifiers, Probiotics, Feed Pigments, Feed Binders, Flavours and Sweeteners, Feed Minerals) and Livestock (poultry, cattle, swine, aquatic animals). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East and Africa.
The growth of the Feed Additives market is majorly driven by factors such as the rise in global meat consumption, a better understanding of quality feed, industrialization of the livestock industry, danger of diseases in livestock, and the ecological impact of the meat and dairy industry. Technology innovations are also playing a crucial role in the advancement of this industry. Another major factor driving the growth of the market is the demand for low-cost meat with superior nutritional value throughout the globe. Different regulatory structures, volatile economies, and increasing cost of operations are the major restraining factors for the market. And also, increase in the cost of raw materials for feed additives is a key challenge for the companies in the market.
The Poultry segment accounted for the highest revenue in 2015, the reason being that because of the increase in demand for poultry meat, consumer taste predilections, and rise in disposable incomes in developing economies, primarily in China and India. Amino Acids, antibiotics, acidifiers, and vitamins are the major sectors accounting for almost 50% of the entire feed additives market. Feed antioxidant is another high growth sector in this market owing to ramped-up efforts of manufacturers to avoid feed spoilage and wastage.
Asia-Pacific region accounts for the major share of the Global Feed Additives market. China is the major feed additives manufacturer in the world and accounts for around half the production of feed additives in the Asia-Pacific region. This region is expected to offer lucrative growth opportunities, owing to the considerable increase in feed production and increasing awareness among the consumers about the quality of meat, and dairy and related products and is also projected to grow at the highest CAGR during the forecast period.
The major companies operating in the global Feed Additives market are BASF SE, Cargill, Inc., Alltech, Inc., Novozymes A/S, Chr. Hansen Holding A/S, Archer Daniels Midland Company, Charoen Pokphand Foods Public Company Limited, Nutreco N.V., Evonik Industries AG, and Adisseo France SAS.
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