Feed Preservatives Market Research Report: Information by Type (Natural, Synthetic-Sorbates, Benzoates and Propionates), Application (Feed Premix, Compound Feed and Silage) and Region (North America, Europe, Asia Pacific and RoW) – Forecast till 2023
Pune, India -- (SBWIRE) -- 06/11/2018 -- Market Overview:
Feed preservatives market is observing an exponential growth based on its high usage in the feed industry. Feed preservatives are synthetic or natural compounds which are primarily added to feed products in order to restrict the microbial growth. They are used to preserve flavor, taste, and other feed qualities. Also, feed preservatives help in reducing the spoilage from bacteria, fungi, and yeast which increases the feed shelf-life.
The global feed preservatives market is increasing due to increased demand for preservatives from the feed manufactures in order to inhibit the feed spoilage during storage and transportation. In addition, the growing demand for natural preservatives in animal feed products is expected to drive the growth of feed preservatives market. Also, value-added benefits associated with the use of feed preservative are also supporting the sale of feed preservatives globally.
Furthermore, increasing awareness regarding health benefits such as prevention from feed-borne diseases is likely to boost the growth of global feed preservatives market. Additionally, the development of new product coupled with scientific advancements is considered to be one of the major reasons for the increasing growth of the feed preservatives market during the review period. However, the high cost of processing techniques and raw materials may hamper the growth of the feed preservatives market over the review period. The market players are responding to these new opportunities by expanding their product line, which has boosted the share of feed preservatives in the global market. Nevertheless, all these factors are projected to contribute to the estimated CAGR of 8.9% during the forecast period, 2017-2023.
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Major Key Players:
The major players in the Feed Preservatives Market,
Impextraco NV (Belgium)
Perstorp Holding AB (Sweden)
Novus International, Inc. (U.S.)
Kemin Industries, Inc. (U.S.)
Cargill Inc. (U.S.)
Biomin Holding GmbH (Austria)
I. du Pont de Nemours and Company (U.S.)
Alltech, Inc. (U.S.)
BASF SE (Germany) and
Nutreco N.V. (the Netherlands)
The global feed preservatives market is segmented into type and application.
On the basis of the type, it is segmented into natural, and synthetic. Among the both, synthetic feed preservatives hold the major market share owing to its wide range of product applicability and low cost.
On the basis of the application, it is segmented into feed premix, compound feed, silage, and others. Among all, the compound feed segment is dominating the market.
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The global feed preservatives market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). The European region is dominating the feed preservatives market followed by Asia Pacific owing to increasing use of feed preservatives for protection & inhibition of the spoilage during storage & transportation. Furthermore, the U.K dominates the European feed preservatives market. Increased demand for animal feed products in the European region is likely to boost the feed preservatives market over the forecast period.
Moreover, increased demand for superior quality animal feed with enhanced stability & functionality is driving the market of feed preservatives in the Asia Pacific region. Additionally, the major key players are actively involved in the research & developments of the product for enhanced functionality.