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The global animal feed additive market was valued at US$ 15,088.7 million in 2018. 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 the growth of the animals at a healthy rate.

The animal feed additives market is largely regulated by various government bodies, which is expected to hinder market growth in near future. These regulation are incorporated to standardize meat products and to provide consumers safety towards diseases such as swine flu or bird flu etc. To control these diseases, antibiotics growth promoters are used in production of livestock. However, AGP was banned by European Union in 2006 and the U.S. government banned its usage by December, 2016. However, new innovation through technological advancement has developed products from plant extracts, phytogenics and amino acids. Europe dominated the global animal feed additive market during the last three years and is expected to retain its dominance in the market throughout the forecast period, due to increasing consumer knowledge about animal feed and prevention against diseases caused by meat consumption and growing meat industries. Antioxidants is projected to be the fastest growing product segment and expected to grow at a CAGR of 3.6% in terms of revenue during the forecast period. The growing livestock such as pork/swine, poultry, cattle, aquaculture and others is propelling the market for animal feed additives during the forecast period.

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/animal-feed-additives-market-538

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 the market in Asia Pacific over the forecast period. Among product type, amino acid segment accounted for over US$ 3,418.4 million of the global animal feed additive market in 2018 and is expected to retain its dominance over the forecast period

. Key takeaways of the market:

  • The market in Asia Pacific is expected to register a significant growth rate over the forecast period. It accounted for share of around 25.9% of the overall animal feed additive market revenue in 2018. 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, and health awareness is gaining traction for high quality protein which is extracted from meat, increase in consumption of aquatic and meat products.
  • Europe is projected to be the lucrative region in global animal feed additive 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 the players in this region.
  • Antibiotics is expected to register a significant growth rate for product segments in the global animal feed additive market during the projected period.
  • BASF SE, Koninklijke DSM N.V., Danisco Animal Nutrition, Evonik Industries AG, Addcon Group, Cargill Inc., ADM Animal Nutrition, Adisseo France, Kemin Industries, Nutreco N.V. and Novozymes A/S are few of the key players in global animal feed additive market.
  • There are various organic, and inorganic growth strategies which are being followed by the leading market players in the market. Technological advancement is leading to the key innovation in the new product launches. Companies are also investing in expansions, mergers & acquisitions, and joint ventures in the market. For instance, in May 2019, Bayer Animal Health GmbH and Nutreco have signed a global research and development collaboration agreement to drive the development of novel technologies and applications for the animal health and animal nutrition industries.
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