Global Animal Feed Additives Market is estimated to be valued at US$ 16,331.4 Million in 2021, according to the Global animal feed additives market report, by Product Type (Antibiotics, Vitamins, Antioxidants, Amino Acids, Enzymes, Acidifiers, Others), by Livestock ( Pork/Swine, Poultry, Cattle, Aquaculture, Others), and by Region (North America, Latin America, Asia Pacific, Europe, and Middle East & Africa), published by Coherent Market Insights.
Global animal feed additives market was valued at US$ 16,331.4 Million in 2021. Animal feed additives market is expected to register a CAGR of 2.9% over the forecast period (2022–2030). Feed additives are supplements added in feed of livestock to improve the nutritional level of the farm animals. It contains fatty acids, amino acids, minerals, and vitamins, which helps in growth of the animals at a healthy rate.
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Browse 50 market data tables* and 40 figures* on "Global Animal Feed Additives Market” - Forecast to 2030.
Key Trends and Analysis of the Global Animal Feed Additives Market:
Increasing demand for food production with low availability of land and water resources has led to an increase in meat industry, which is expected to boost growth of market in Asia Pacific over the forecast period. Among product type, amino acid segment accounted for over US$ 16,331.4 Million of the global animal feed additive market in 2021 and is expected to retain its dominance over the forecast period
Key Takeaways of the Global Animal Feed Additives Market:
- Market in Asia Pacific is expected to register a significant growth rate over the forecast period. It accounted for a share of around 25.9% of the overall animal feed additive market revenue in 2021. The market in this region is expected to be primarily driven by increase in urban population, growing trend of multiple income source in families coupled with busy lifestyles, health awareness gaining traction for high quality protein which is extracted from meat, and increase in consumption of aquatic and meat products.
- Europe is projected to be the lucrative region in the global animal feed additives market. Increase in grain demand for food production with low availability of land and water resources has resulted in the increase in meat industry are expected to create lucrative growth opportunities for market players in this region.There are various organic, and inorganic growth strategies which are being adopted by players in market. Technological advancement is leading to key innovations in new product launches. Market players investing in expansions, mergers & acquisitions, and joint ventures in market. For instance, in May 2019, Bayer Animal Health GmbH is a global leader in animal health. and Nutreco Nutreco is a leading animal nutrition company had signed a global research and development collaboration agreement to drive development of novel technologies and applications for the animal health and animal nutrition industries.
- New product launches, merger & acquisitions, strategic partnership expansion, and research & development activities are key strategies adopted by players in the global animal feed additives market
