Animal feed additives market to be worth $20,233 million by 2018
New report available from Markets and Markets
The animal feed additives market is expected to be worth $20,233.2 million by 2018, according to a new report from Markets and Markets.
The report "Animal Feed Additives Market by Types (Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed enzymes), Livestock (Swine, Poultry, Cattle, Aquaculture, Others) & Geography - Trends & Forecasts (2011 - 2018)," defines and segments the global animal feed additives market with analysis and projection of the global revenue. It also identifies the driving and restraining factors for the global market with analysis of trends, opportunities, burning issues, winning imperatives and challenges.
The driving factors of the demand for the animal feed additives market are industrialization in meat production, increasing global demand for protein-rich meat products, increase in global meat consumption, and increase in awareness towards meat quality and safety, and recent outbreaks of diseases in livestock.
The main restraints of the industry are the raising raw material cost and regulatory structure by the governments. However, the increasing cost of natural feed products is creating opportunities for the animal feed additives. Environmental concerns and regulatory ban over some harmful additives are other opportunities for animal feed additives. The manufacturers are developing innovative production techniques to manufacture the product at lower cost and increase their production capacity.
The market is segmented and revenue is projected on the basis of main regions such as North America, Europe, Asia-Pacific, and the rest of the world (ROW). The markets of key countries of each region are studied and projected.
The global market for animal feed additives, in terms of revenue, was estimated to be worth around $16,183.0 million in 2012 and is projected to reach $20,233.2 million by 2018, growing at the CAGR of 3.8% from 2013.Leading manufacturers are focusing on expansion of businesses across regions and setting up new plants for increasing production capacity and their product line. Leading industry participants are involved in mergers and acquisitions to penetrate the untapped markets of Asia-Pacific and Latin America.