PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1104375
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1104375
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Global Animal Feed Additives Market to Reach $19 Billion by 2027
In the changed post COVID-19 business landscape, the global market for Animal Feed Additives estimated at US$13.4 Billion in the year 2020, is projected to reach a revised size of US$19 Billion by 2027, growing at a CAGR of 5.1% over the analysis period 2020-2027. Amino Acids, one of the segments analyzed in the report, is projected to record a 5.9% CAGR and reach US$6.9 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Antibiotics / Antibacterials segment is readjusted to a revised 4.2% CAGR for the next 7-year period.
The U.S. Market is Estimated at $2.7 Billion, While China is Forecast to Grow at 6.2% CAGR
The Animal Feed Additives market in the U.S. is estimated at US$2.7 Billion in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$4.7 Billion by the year 2027 trailing a CAGR of 6.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.4% and 4.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.9% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$3.2 Billion by the year 2027.
Vitamins Segment to Record 4.5% CAGR
In the global Vitamins segment, USA, Canada, Japan, China and Europe will drive the 4.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$968.8 Million in the year 2020 will reach a projected size of US$1.3 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Latin America will expand at a 4.5% CAGR through the analysis period.
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