Animal Feed Additives Market for Ruminants - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2021
Albany, NY -- (SBWIRE) -- 05/04/2017 -- Animal Feed Additives Market for Ruminants: Snapshot
The demand for dairy products and meat is increasing by the day on account of growing population and the prevalence of a hectic lifestyle, making it essential for consumers to have a diet with everyday protein needs. This has resulted in an increase in the livestock population so as to be able to meet the growing demands for meat and dairy products, which in turn is driving the animal feed additives market. Animal feed additives provide animals with the necessary nutritional and protective functions, which are necessary for maintaining the overall health as well as to ward off diseases and infection risks. Animal feed additives also help in enhancing the weight and digestive function of animals. Thus, animal feed additives have become an essential part for animals livestock in farms and dairies.
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According to a report published by Transparency Market Research, the global animal feed additives market for ruminants is anticipated to rise from US$4.79 bn in 2016 to reach US$5.92 bn by 2021, expanding at a 4.3% CAGR between 2015 and 2021.
Asia Pacific to Generate the Highest Demand for Animal Feed Additives for Ruminants
Asia Pacific is expected to lead in terms of revenue generation from the animal feed additives for ruminants market. By 2021, the market in Asia Pacific is expected to be worth US$1.9 bn, accounting for 32.6% of the revenue generated. China and India are two countries in Asia Pacific contributing majorly to the growth of this market. High demand for dairy products as well as growing population are two key reasons why the animal feed additives market for ruminants is flourishing in these two countries. Asia Pacific is also boosting their meat exportation to other regions and this is expected to drive the animal feed additives for ruminants market.
Another lucrative regional market for animal feed additives for ruminants is North America. The growing demand for meat and dairy is expected to drive the market. In addition to this, the strict regulations by government, making it a rule to allow dairy and meat products to be sold only if it is above a certain grade will lead to a demand for high quality animal feed additives for ruminants
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Cattle Segment Continues to be Highest Revenue Generator
On the basis of animal type, the market is segmented into cattle, buffalo, and others. Of these, the cattle segment not only led in 2016, but is expected to continue to do so in the coming years. The segment is predicted to account for 80.80% of the market. The growth of the segments is likely due to high demand for cattle meat as well as dairy across the globe. Also, the recent improvements in cattle feed additives will help generate high amount of demand. This is boosting the number of players in the market towards the cattle sector, ensuring several growth opportunities in the years to come. Moreover, the quality of cattle meat is a concern among many consumers, driving the demand for animal feed additives.
Vitamins and Amino Acids to Continue Leading in Market
Amino acids are helpful for the maintenance of good quality and quantity of the meat. Thus, they are one of the largest types of animal feed additives for ruminants. Lysine, followed by methionine are two kinds of amino acids used in feed additives. Vitamins is another kind if animal feed, which is expected to see increased demand. The most commonly used vitamins in animal feed additives are vitamins A, B, C, and E.