Animal Feed Additives Market Overview
Animal feed additives are important component for the globally increasing meat production sector. Animal Feed additives are mixed with basic feed to provide nutrition and boost the overall growth of animal. Animal feed additives have benefits such as improve the weight, accelerates feed digestion and prevent from various diseases.
Major driving factor for animal feed additive market is the increasing meat consumption globally. Other driving factor that fuel the growth of animal feed additive market is the increasing demand for low price meat with high nutritional value associated with it. Major constraint for the animal feed additive market is differences in the regulation in different countries that affects global meat market adversely especially in developing and developed countries.
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Animal Feed Additives Market Size
Animal feed additive market value reached $ 14.9billion globally in 2013 which is expected to reach market value $ 20billion by 2020. Animal feed additive market is growing with healthy single digit CAGR of 4% from 2014 to 2020.Asia pacific is leader in the animal feed additive sector that contributes 32.4% of the overall animal feed additive market which is followed by Europe. Asia pacific is anticipated to be rapidly growing market in the forecasted period owing to the changing demographics, rising urban population, increasing disposable income and busy lifestyles and increasing health awareness. These factors increase the demand for animal proteins which further increase the demand for animal feed additives.
Animal Feed Additives Market Segmentation
On the basis of product type animal feed additive is segmented into Antibiotics, Vitamins, Antioxidants, Amino acids, Feed enzymes, Acidifiers and others. On the basis of geography animal feed additive market is segmented into North America, Latin America, Western America Eastern Europe, Asia pacific, Japan, Middle East and Africa. On the basis of livestock global feed additive market is segmented into cattle, poultry, seafood, pork. Antibiotics contributes 26.6% of the total feed additive market which is anticipated to decrease in the coming years. In 2013 Feed vitamins and amino acids contributed 8.9% and 31.5% market share respectively which is anticipated to show steady demand in the coming years. Feed acidifier market value in 2012 was USD 1.16bn and anticipated to grow at a CAGR of 6.4% from 2014-2020
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Largest demand for animal feed additive is among poultry segment. Demand for animal feed additive market is anticipated to increase in the forecasted period owing to the upcoming trend of consolidation and backward integration of poultry processors.
Animal Feed Additives Market Key Players
Key players in the global animal feed additive market are BASF SE, Adisseo France S.A.S, , Inc., BIOMIN Holding GmbH, Elanco Animal Health, Inc., DSM, Novus International, Inc., Nutreco N.V Kemin Industries and NovozymesAddcon Addcon Group GMBH. Key strategies adopted by the companies to increase the demand of animal feed additives are merger and acquisition, new products launch and partnership. With new product launches various animal feed additives are available that improve the meat quality, animal health.
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