Feed Additives Market by Type (Amino Acids, Phosphates, Vitamins, Acidifiers, Carotenoids, Enzymes, Mycotoxin Detoxifiers, Flavors & Sweeteners, Minerals, and Antioxidants), Livestock, Form, Source, and Region - Global Forecast to 2026
Northbrook, IL -- (SBWIRE) -- 08/27/2021 -- According to MarketsandMarkets, the "Feed Additives Market by Type (Amino Acids, Phosphates, Vitamins, Acidifiers, Carotenoids, Enzymes, Mycotoxin Detoxifiers, Flavors & Sweeteners, Minerals, and Antioxidants), Livestock, Form, Source, and Region - Global Forecast to 2026" size is estimated to be valued at USD 38.1 billion in 2021. It is projected to reach USD 49.6 billion by 2026, recording a CAGR of 5.5%, in terms of value. The growing consumption of livestock-based products and increasing feed manufacturers is driving the demand for feed additives.
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The amino acid segment accounted for the largest share in the feed additives market
Based on type, amino acids segment dominated the feed additives market. Amino acids help in improving protein utilization in livestock. They also support the growth, production, physical acitivites, and overall maintenance of livestock's health.
The ruminants segment accounts for the second largest market share in the feed additives market
Based on livestock, ruminants is the second-largest segment in the overall feed additives market. The growth of this segment is majorly attributed to the rising demand for dairy and dairy-based products such as milk, cheese, yogurt, and butter in both developed and developing countries.
The liquid segment is projected to account for the second-largest share in the feed additives market during the forecast period
By form, the feed additives market is segmented into dry and liquid. Liquid segment accounted for the second-largest market share in the overall feed additives market. Liquid feed additives increase feed consumption and utilization by animals. It also reduces ration sorting, provide accurate dosage, and reduces feed waste.
The natural segment is projected to account for the second-largest share in the feed additives market during the forecast period
By source, the feed additives market is segmented into synthetic and natural. Natural segment accounted for the second-largest market share in the overall feed additives market. The demand for natural feed additives is increasing due to the demand for higher-quality animal feed and rising concerns of end consumers about obtaining animal-based products.
The North America region is the second-largest region in the feed additives market in the forecast period
North America is the second-largest region in the global feed additives market in the forecast period. The feed additives market in North America is majorly driven by the growth in livestock population in US and Mexico. The region witnesses high production and consumption of feed additives. The presence of major feed additive manufacturers such as Cargill (US), ADM (US), DuPont (US), Kemin Industries Inc. (US), and Alltech (US), further drives the market.
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This report includes a study on the marketing and development strategies, along with the product portfolios of leading companies. It consists of profiles of leading companies, such as Cargill (US), ADM (US), DuPont (US), Evonik (Germany), BASF (Germany), DSM (Netherlands), Novozymes (Denmark), Chr. Hansen (Denmark), Ajinomoto (Japan), TEGASA (Spain), Nutreco (Netherlands), Kemin Industries Inc. (US), Adisseo (France), Alltech (US), Palital Feed Additives B.V (Netherlands), Global Nutrition International (France), Centafarm SRL (Italy), Bentoli (US), NUQO Feed Additives (France ), and Novus International Inc. (US).
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