Global animal feed additives market was valued at $ 22.5 billion in 2022 and is likely to reach $ 41.1 billion by 2032, registering a CAGR of 5.9% over the forecast period of 2023-2032.
Animal feed additives are substances added to animal feed to enhance its nutritional value, improve feed efficiency, promote animal health, and optimize performance. These additives can include vitamins, minerals, amino acids, enzymes, antioxidants, probiotics, prebiotics, and other specialized ingredients. They serve various purposes such as boosting growth, enhancing immune function, aiding digestion, preventing diseases, and compensating for nutrient deficiencies in feed ingredients. Animal feed additives play a crucial role in modern animal agriculture, helping to meet the nutritional requirements of livestock, poultry, aquaculture, and other animals raised for food production while ensuring optimal health and productivity throughout their lifecycle.
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Companies:
• SHV Holdings N.V.
• Evonik Industries AG
• Archer-Daniels-Midland Company
• PHIBRO ANIMAL HEALTH CORPORATION
• Koninklijke DSM N.V.
• KEMIN INDUSTRIES INC
• ADDCON GROUP GMBH
• BASF SE
• Cargill Incorporated
• ALIPHOS BELGIUM SA
Key Drivers:
• Rising Global Protein Consumption: A growing global population and increasing disposable incomes, particularly in emerging economies, are fueling the demand for meat, milk, eggs, and other animal products. This necessitates increased livestock production, driving the need for effective feed additives to enhance animal productivity and efficiency.
• Growing Awareness of Animal Health and Welfare: There is an increasing focus on animal health and welfare, leading to a greater demand for feed additives that promote immunity, improve gut health, and support overall well-being. Healthy animals are more resistant to diseases, exhibit better growth rates, and produce higher-quality products.
• Stringent Regulations and Quality Standards: Governments and regulatory bodies worldwide are implementing stricter regulations regarding the use of feed additives to ensure animal health, food safety, and environmental protection. This drives the demand for additives that comply with these standards.
• Advancements in Feed Additive Technology: Continuous research and development are leading to innovative and more effective feed additives. This includes advancements in areas like enzyme technology, probiotics, prebiotics, and other natural growth promoters.
• Increasing Demand for High-Quality Meat and Dairy Products: Consumers are increasingly demanding premium quality meat and dairy products, which necessitates the use of feed additives to optimize animal nutrition and health.
• Rising Prevalence of Livestock Diseases: The increasing occurrence of livestock diseases necessitates the use of feed additives to enhance animal immunity and prevent outbreaks, minimizing economic losses for farmers.
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