PUBLISHER: The Business Research Company | PRODUCT CODE: 1409405
PUBLISHER: The Business Research Company | PRODUCT CODE: 1409405
“Feed Additives Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on feed additives market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for feed additives? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The feed additives market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Feed additives are products in animal nutrition designed to enhance the quality of animal food, as well as improve animal performance and health. They encompass a variety of chemicals, substances, or organisms aimed at increasing nutritional intake, absorption, and assimilation.
The primary types of feed additives include amino acids, phosphates, vitamins, acidifiers, carotenoids, enzymes, mycotoxin detoxifiers, flavors and sweeteners, antibiotics, and others. Amino acids are fundamental molecules that combine to form proteins. These additives are utilized in various livestock, such as poultry, ruminants, swine, aquatic animals, and others, and are available in both liquid and dry forms, derived from synthetic and natural sources.
The feed additives market research report is one of a series of new reports from The Business Research Company that provides feed additives market statistics, including feed additives industry global market size, regional shares, competitors with feed additives market share, detailed feed additives market segments, market trends, and opportunities, and any further data you may need to thrive in the feed additives industry. This feed additives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The feed additives market size has grown strongly in recent years. It will grow from $18.25 billion in 2023 to $20.05 billion in 2024 at a compound annual growth rate (CAGR) of 7.5%. The growth in the historical period can be attributed to the expansion of livestock production, the emphasis on disease prevention, improvements in feed conversion efficiency, meeting nutritional requirements, and the increasing demand for meat consumption.
The feed additives market size is expected to see strong growth in the next few years. It will grow to $26.41 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to a focus on animal welfare, the adoption of sustainable and organic farming practices, the integration of precision livestock farming, regulatory changes, and the overall growth in the global population. Major trends in the forecast period include technological advancements in feed additive production, the application of nutrigenomics in feed formulation, strategic partnerships and collaborations, an increased emphasis on regulatory compliance and transparency, and the digitalization of precision livestock farming.
The anticipated surge in meat and dairy product consumption is expected to drive the growth of the feed additives market. Feed additives, which aid in meeting animals' nutritional requirements, play a crucial role in enhancing the quality of animal feed and, consequently, the production of meat and dairy products. For example, a Government of Canada report stated that per capita meat consumption among Canadian consumers increased from Can$523.9 in 2017 to Can$601.1 in 2021, and it's projected to further rise to Can$723.1 by 2026. This trend is a significant driver behind the expansion of the feed additives market.
The expanding scale of feed production is anticipated to fuel the growth of the feed additives market. Within the agricultural or animal husbandry sector, 'feed' refers to nutritionally tailored food provided to domesticated animals. Feed additives, crucial for augmenting the quality and nutritional value of animal feed, significantly contribute to the animals' health and performance. As per the 2022 Alltech Agri-Food Outlook, international feed tonnage saw a 2.3% increase, reaching 1.235 billion metric tons in 2021. Key feed-producing nations such as China, the United States, Brazil, India, Mexico, and Spain demonstrated significant growth in the previous year, driving the feed additives market forward.
Prominent companies in the feed additives sector are actively innovating to fortify their market positions. For instance, in February 2021, Kemin Industries Inc., a US-based specialist in specialty ingredients across multiple industries including animal health, introduced KemTRACE Chromium-OR. This water-soluble, organic-compliant chromium propionate feed ingredient caters to swine, cattle, broiler, and horse diets. It offers benefits such as enhanced maintenance, reproduction, growth, and immunity in these animals. Additionally, it aids in better glucose utilization and mitigates stress impacts, thereby promoting increased cellular energy and function in the animals.
Major enterprises within the feed additives market are pursuing strategic collaborations to leverage microbiome technology for a transformative impact on their product offerings. This approach involves partnering to capitalize on each other's strengths and assets, aiming for mutual gains and accomplishments. As an illustration, Nutreco N.V., a Netherlands-based animal nutrition and fish feed manufacturer, revealed a long-term strategic alliance with BioMedIT, LLC, in January 2023. This partnership is geared toward the creation of innovative feed additives utilizing microbiome technology, addressing health and sustainability concerns in aquaculture, poultry, swine, and cattle farming. The agreement encompasses joint efforts in research, development, and commercialization of bioactives, utilizing BioMedIT's advanced microbiome research and bioinformatics platform, thus offering solutions that meet modern animal producers' needs.
In June 2022, Cargill Incorporated, a prominent US-based agribusiness and animal nutrition entity, successfully executed the acquisition of Delacon Biotechnik Ges.m.b.H. Although the financial specifics of the transaction remained undisclosed, this strategic move is anticipated to significantly enhance Cargill's product portfolio by integrating Delacon's expertise in feed additives. Through this acquisition, Cargill aims to strengthen its global presence and reinforce its commitment to producing more nutritious food. The integration of Delacon's capabilities is expected to amplify livestock and aquaculture performance while advancing animal health. Delacon Biotechnik Ges.m.b.H., based in Austria, specializes in manufacturing feed additives.
Major companies operating in the feed additives market report are Cargill Incorporated, Archer-Daniels-Midland Company, DuPont de Nemours Inc., Evonik Industries AG, BASF SE, Koninklijke DSM N.V., Novozymes A/S, Chr. Hansen A/S, Nutreco N.V., Kemin Industries Inc., Alltech Inc., Ajinomoto Co.Inc., Adisseo Co. Ltd., Tegasa, Palital Feed Additives B.V., Solvay S.A., Anpario plc, Biomin Holding GmbH, BioResource International Inc., Biovet JSC, Calysta Inc., Danisco Animal Nutrition, Devenish Nutrition, DSM Nutritional Products AG, Elanco Animal Health Inc., Enzyme Innovation, Feedworks USA Ltd., Global Animal Products Inc., Kalsec Inc., Lesaffre Group, Novus International Inc., Phibro Animal Health Corporation, QualiTech Inc., Wacker Chemie AG .
Asia-Pacific was the largest region in the feed additives market in 2023. The regions covered in the feed additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the feed additives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The feed additives market consists of sales of sensory feed additives, nutritional feed additives, zootechnical feed additives, and coccidiostats and histomonostats feed additives. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.