Animal Feed Additives Market: Global Industry Analysis and Opportunity Assessment, 2016 - 2026
Valley Cottage, NY -- (SBWIRE) -- 10/18/2017 -- Introduction
According to the European Commission, "feed additives are products used in animal nutrition for purposes of improving the quality of feed and the quality of food from animal origin, or to improve the animals' performance and health, e.g. providing enhanced digestibility of the feed materials."
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Feed additives have played an important role in improving both the production quantity and quality in farms. At a time, when global demand for meat and poultry products is growing at a robust pace, safe and affordable feed additives are growing in demand from end-use sectors. Feed additives are also gaining traction in the pet food segment, as pet humanisation trend is promoting greater emphasis on the health and well-being of pets.
Market Value and Forecast
The global animal feed additives market was valued at US$ 14.0 Bn in 2015, and is expected to expand at a CAGR of 2.7% over the forecast period (2016–2026). The market will witness a gradual shift from antibiotics to feed additives made from natural and organic ingredients. Growth of the global animal feed additives market is driven by increasing emphasis on preventing foodborne and zoonotic diseases, such as various types of avian flus. Rising demand for meat and poultry products, driven by a steadily growing middle class with substantial disposable income is also influencing farm owners to increase their production quality without compromising on quantity. As more people turn to frozen meat products, farm owners have had to meet stringent quality checks and guidelines to meet safety standards, fuelling the inclusion of feed additives in farms.
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Other key factors driving demand for feed additives include the all-pervasive pet humanisation trend and shift towards lean protein in daily diet. Maintaining health and well-being of animals and birds without causing any side effects is driving demand for natural feed supplements, such as probiotics.
Animal Feed Additives Market Segmentation
The report has segmented the global animal feed additives market on the basis of animal/livestock and product type. The report also offers region-wise forecast and competitive outlook, profiling the key business strategy of leading players in the market.
Market Segmentation, by Animal/Livestock
Among the various animal/livestock segments, poultry segment is expected to witness robust growth, owing to increasing consumption of meat and poultry products in developing countries.
Market Segmentation by Product Type
Based on product type, the market has been segmented into vitamins, amino acids, feed enzymes, antibiotics, acidifiers, anti-oxidants, binders, minerals and other types of animal feed additives. The amino acids segment is expected to account for significant value share of 22.5% of the overall market in 2016.
In this report, the global animal feed additives market has been segmented into seven major regions: North America, Latin America, Eastern Europe, Western Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA).
In terms of value, the Western Europe market accounted for the maximum revenue share among all the regions, followed by the North America market, as maximum number of animal feed additives manufacturers are based in Western Europe.
The Eastern Europe animal feed additives market is expected to expand at a CAGR of about 3.0% during the forecast period. Meanwhile, the APEJ market is expected to expand at a CAGR of 2.7%. Among all the regions, the North America and Latin America market is expected to expand at a moderate CAGR of 2.9% over the forecast period.
Some of the major players in the global animal feed additives market that are covered in this report are BASF SE, Evonik Industries Ag, Cargill, Inc., Koninklijke DSM N.V, Nutreco N.V., Zoetis Inc., Novozymes A/S and Phibro. The report also analyses the company-specific strategies related to key developments and market consolidation initiatives of key players.