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Animal Feed Additives Market Is Expected to Exhibit USD 25 Billion by 2024

Europe animal feed additives market led by Germany, France and UK should witness growth at over 3.5% owing to its strong application outlook in livestock industry


Sellbyville, DE -- (SBWIRE) -- 05/07/2019 -- Animal Feed Additives Market is likely to generate over USD 25 billion by 2024. Growing consumer demand for meat products as a source for protein and nutrients along with rising concern towards livestock health & safety should drive animal feed additives market demand. These products act as catalyst preventing diseases, improving weight gain, digestion, conversion rate and overall health.

Despite the fact that technological developments have forayed in animal feed additives industry, the EFSA (European Food Safety Authority) has drafted a few guidelines regarding the risks associated with the use of nanotechnology and nanoscience in the food and feed chain that most biggies in animal feed additives market would need to adhere to. As per the report published by EFSA, the inventory and evaluation in nanotechnology applications will replace antibiotics with nanoparticles as substitutes. But, nanoparticles are not well characterized and remain underutilized for poultry feed additives. For instance, nanoparticles are used currently in most of the chicken feed, resulting in improved chicken microbiota, however, silver nanoparticles contrarily, lead to higher toxicity level in birds. In fact, players in animal feed market are significantly investigating alternatives for inorganic nanoparticles like silver in terms of organic materials such as nano-composites and nano-encapsulation.

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U.S. animal feed additives market should grow significantly at a rate of over 3% by 2024 due to strong demand for quality & safe meat products. Stringent food & safety regulations pertaining to standardized meat and milk products along with ban on meat and bone meal should amplify regional product demand.

Germany animal feed additives market size should grow significantly during forecast timeframe due to raising living standards along with spurring meat demands from packaged food sector. High economic standards coupled with busy working schedule should further strengthen demand for packaged food implying animal feed additives market growth.

Pigment animal feed additives market size should gain about 4.5% during projected timeframe. Its ability to improve palatability and appeal to improve feed efficacy should drive industry size. Growing industrialization of pork, aquaculture and poultry business on a global scale should drive product demand.

Animal feed additives market demand from aquaculture application should grow steadily to surpass 155 kilo tons by 2024. Amino acids are one of the important ingredients in aquafeed additives as fish and prawns are not able to synthesize proteins into amino acids which include tryptophan, lysine, methionine, and threonine. Vitamins also form importance source of diet for shrimp & fish to enhance disease resistance and improve defense mechanism.

Probiotics animal feed additives market size should grow significantly at a rate of over 5.5% during forecast timeframe as it helps in enhancing gut & intestinal health in swine, poultry and cattle being dietary supplement. It comprises of live micro-organism strains which maintains microbial flora in gastrointestinal tract in animals improving digestion and feed efficacy propelling industry growth.

Enzymes animal feed additives market size should create revenues over USD 750 million by 2024 owing to the exceptional ability to convert nutrients into energy. It breaks down feed into smaller components by binding into the feed substrates improving productivity and livestock health, thus driving animal feed additives market.

Strict regulatory regimes regarding ban on antibiotics or antibiotic growth promoters (AGPs) in U.S and Europe owing to bioaccumulation of antibiotics in gastrointestinal tract creates resistance to medicines. Thus, should boost market for replacements with natural growth promoters like probiotics, antioxidants and amino acids. Increased government interventions in food & feed safety with rising investments, laying forth policies and regulations to standardize meat products should drive product demand.

Positive outlook for increasing investments & financial assistance for livestock farming as supplementary business as agriculture for catering growing meat demand & supportive technological innovations in processing equipment should drive animal feed additives demand. Growing emphasis on livestock nutrition for providing quality meat products is rising to its utmost importance to support consumer health & diet which should positively influence product demand.

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Animal feed additives market demand from pet food applications should surpass 160 kilo tons by 2024. Pets needs nutrition & special care for strengthening their joints, improving metabolism, and protecting hair & skin coats. Vitamins, pigments, flavors, antioxidants and probiotics are the prominently used in pet food. Vitamins helps to enable in maintaining body functions and provides essential nutrients needed for growth of pet animals.

Global animal feed additives market share is moderately fragmented with market players including Novus International, DSM, Kaesler Nutrition, Kemin, Cargill and ADM. Companies focus in developing application scope for products along with expanding production capacity through mergers, acquisitions and partnerships. It also helps them expand their product marketing reach to various other regions.

The increasing deployment of regulatory norms in order to encourage the biggies in animal feed additives industry to manufacture good quality, healthy, and inexpensive animal feeds will have a profound effect on product demand over the years ahead. Furthermore, the shifting focus of industry players toward high nutrient utilization without increasing the environmental waste load is also likely to push overall animal feed additives market share.