Animal feed additives market to hit $27.9B by 2021
Two new reports available on animal nutrition market segments
New reports are available on the global animal feed additives market and the animal nutrition chemicals market.
Feed additives are used in animal nutrition to enhance the quality of animal feed in order to boost features such as overall gut health/digestive performance, palatability preservation and others. Feed additives have gained importance globally, on account of improving the overall health of animal and quality and quantity of meat produced from them. For example, in poultry diets, feed additives are used to improve the birds’ laying capacity, feed utilization and disease prevention. Similarly, swine diets include various natural and synthetic additives such as acidifiers, high dietary levels of copper, zinc and phytase to boost the performance and profitability of swine feed.
According to a new report, “World Animal Feed Additives - Market Opportunities and Forecast, 2014-2021,” from Allied Market Research, the world animal feed additives market was evaluated at $18.0 billion in 2014 and is estimated to garner $27.9 billion by 2021, registering a CAGR of 6.5 percent over the forecast period 2015-21. Increasing global meat consumption, industrialization of meat products, and growing awareness of quality of dairy and meat products consumed are boosting the feed additives market’s growth. Increasing raw material costs may restrict the market growth as the majority of additives such as feed acids, antioxidants and vitamins are extracted from natural sources encompassing seeds, tree barks, leaves, etc.
The world animal feed additives market is segmented based on types, livestock and geography. The type segment is further bifurcated into amino acids, feed enzymes, vitamins, minerals, feed acidifiers, antioxidants and binders. The demand for amino acids is increasing owing to its extensive application in feed additives.
Based on livestock, the market is segmented into swine, poultry, cattle, aquatic animals and others. In 2014, poultry emerged as a leading livestock segment for the consumption of feed additives, followed by swine and cattle owing to the growing demand for poultry meat, consumer taste preferences and rising disposable incomes in developing economies, mainly in China and India. Geographically, the world animal feed additives market is segmented into North America, Europe, Asia-Pacific and LAMEA. Asia-Pacific would provide lucrative growth opportunities until 2021, owing to considerable increase in feed production and rising awareness among the consumers regarding the quality of meat, dairy and related products in China and India.
Animal nutrition chemicals market
Animal nutrition chemicals are amino acids that provide nutrition to the animals and act as a buffering agent to boost the immune system of the animals. The products manufactured by the animal nutrition chemicals market are carotenoids, organic acids, enzymes, vacuum salts and vitamins. Animal nutrition chemicals market provides excellent products of choice for the animal feed markets such as aquaculture, poultry, and domestic animal feeds. This market reduces over-fertilization of the soil, reduces the environmental pollution and increases the efficiency of animal farming which in turn provides healthy diet for humans.
A new report from Allied Market Research, “World Animal Nutrition Chemicals Market - Opportunities and Forecasts, 2014-2022,” says the growth of the market has been driven by the factors such as increasing investment by the wide range of manufacturers along the entire value chain, growing consumer demand for performance and concerns about environment for a sustainable future. Moreover, increased demand for healthy and safe pet food and increased awareness of the people who own pets, about the health of their pets has also contributed to the growth of the market. The major limiting factor that is hampering the growth of the market is the high price of the chemicals. Growing demand for eco-friendly solutions and emerging bio-chemicals industry that would help to develop bio-based chemicals are expected to create lot of opportunities to the growth of the market.