Global animal feed additives market to reach $20 billion by 2020
New report available from Allied Market Research
According to a new research report by Allied Market Research, titled "Animal Feed Additives Market (Product, Livestock, Geography) - Global Industry Size, Analysis, Growth, Trends, Share, Opportunities and Forecast 2013 - 2020," the global animal feed additives market was valued at $14.9 billion in 2013 and is estimated to reach $20 billion, registering a compound annual growth rate of 4.2 percent during 2013 - 2020.
The increase in global meat consumption has boosted the demand of animal feed and feed additives market. The demand for high nutritional meat that is available at low cost throughout the globe is also driving this market and this trend in the market is considered as the key factor supporting the industrialization of meat production across the globe.
Animal feed additives add value to the animal life and the quality of their meat. Due to positive impacts that the additives have on the animals, the product is gaining momentum across the globe. Asia Pacific and Latin America, Middle East and Africa regions are greatly demanding meat products of better quality to cater to the demand within these regions. The various other factors driving the market are concerns over the meat quality and safety of meat products among the consumers following recent disease outbreaks has compelled meat producers to focus on the quality of feed provided to the animals.
The variations in regulations across the globe is having an unfavorable impact on worldwide meat market, particularly in developed and advance developing economies. For example, consumption of antibiotic, which is a development promoter, was banned by the European regulatory authorities due to its adverse effects on the consumer and on animal health. The opportunity for this market is the rising demand for feed additives in the Asia pacific region, due to the increase in meat production and export. For Example, India has started subsidies for meat exporters as an encouragement for animal husbandry industry and thus providing huge opportunity for feed additive market.
Amino acid as growth amplifiers has higher popularity among meat producers as it helps in faster growth of the livestock, expediting their return on investment. The amino acid feed additives hold the largest revenue share of the animal feed additives market in 2013. Lysine is the predominant amino acid feed additive currently being used, accounting for about 70% of amino acid feed additives market. Tryptophan, methionine and threonine are other major amino acid feed additives. Though antibiotics has been banned in major European countries, it will continue to be the second largest revenue-generating segment for the animal feed additives market followed by feed acidifiers and vitamins. Antioxidants and feed enzymes are expected to have notable growth during the forecast period though having smaller market size.