Market Research Report
North America Animal Feed Additives Market Size By Product, By Livestock, Industry Analysis Report, Country Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028
|North America Animal Feed Additives Market Size By Product, By Livestock, Industry Analysis Report, Country Outlook, Growth Potential, Competitive Market Share & Forecast, 2022 - 2028|
Published: May 9, 2022
Global Market Insights Inc.
Content info: 315 Pages
Delivery time: 2-3 business days
The North America animal feed additives market is set to grow exponentially through 2028 on account of the rising consumption of meat and dairy in the region. Furthermore, increasing focus of farmers on improving the health of their livestock is slated to further augment industry progress over the forecast period.
Food ingested by livestock asserts a significant impact on the quality of meat and other animal byproducts. For this reason, feed additives are considered important elements in animal nutrition across major regions like the U.S., where considerable emphasis is placed on maintaining a balance of vitamins, proteins, minerals, and other nutrients to fulfill basic health requirements.
Moreover, strategies implemented to reduce methane emissions from ruminant animals in light of growing climate consciousness have triggered major interest in the use of animal feed additives as an effective solution across several nations. The U.S., for instance, is among the prominent nations that are evaluating the health benefits and effectiveness of specialized feed additives like red seaweed, enzyme inhibitor 3 Nitrooxypropanol, and ozone, among others, in methane mitigation. As a result, increasing product prominence has been favorable for business growth.
The North America animal feed additives market has been bifurcated in terms of product, livestock, and country. Based on product, the industry has been categorized into antioxidant, pigments, flavors, enzymes, probiotics, amino acids, sweeteners, acidifiers, and vitamins.
Of these, the pigments segment is poised to register a CAGR of over 4% through 2028. Pigments like carotenoids or colorants are used extensively as animal feed additives to give color to animal-derived foods like egg yolk, skin, or meat. Astaxanthin, a high-value keto-carotenoid pigment, has demonstrated significant potential in offering multiple health benefits for aquatic animals.
With respect to livestock, the North America animal feed additives market has been segregated into poultry, cattle, swine, aquaculture, pet, and others (ruminant, equine). The poultry segment has been further segmented into broilers, layers, turkey, and others.
The broilers segment is set to record a CAGR of over 4.5% to surpass a valuation of $2.6 billion by 2028. Nutritional quality of feed plays a major role in ensuring optimum health and regulated feed intake for broilers. The application of additives in feed formulations for broilers has numerous benefits, including higher resistance to diseases, better daily growth, enhanced use of fodder, and improvement in overall animal product quality.
The North America animal feed additives industry size from the turkey segment was valued at more than $205 million in 2021. This was credited primarily to the increasingly important role of additive components in the nutrition of turkeys, which require higher amounts of amino acids, minerals, protein, and vitamins, as compared to chickens.
The layers livestock segment is expected to depict more than 4.3% CAGR over the forecast period to reach above $470 million in revenue by 2028. Industry size from the others segment was valued at roughly $110 million in 2021.
Under cattle, the North America animal feed additives market has been divided into beef, dairy, calf, and others. The beef segment was valued at over $415 million in 2021 and is estimated to exhibit a CAGR of approximately 4% through 2028.
The dairy segment recorded remuneration worth over $600 million in 2021. The calf segment is expected to register approximately 5% CAGR to reach a valuation of nearly $120 million up to 2028. The others cattle segment is projected to be valued at more than $75 million by 2028.
The aquaculture segment has been bifurcated further into salmon, shrimps, trout, and others. Salmon is set to progress at around 3.5% CAGR over the estimated timeline to exceed a valuation of $27 million by 2028.
This growth is attributed largely to efforts by key animal feed additive industry players that are aimed at improving feed content for aquatic animals. For instance, in February 2022, Atlantic Sapphire ASA, an onshore aquaculture behemoth, collaborated with Skretting, a Utah-based feed manufacturer, to reduce the fish oil content in its salmon feed by nearly 25%, by including the Veramaris ASC-MSC certified sustainable algal oil.
The trout sub-segment is anticipated to register revenue worth $42 million by 2028. In 2021, the shrimps segment held a valuation of above $17.5 million. Furthermore, the North America animal feed additives market size from the others aquaculture segment reached almost $110 million in revenue in 2021.