Animal Feed Additives Market
Opportunity Analysis and Industry Forecast, 2016-2023
Global Opportunity Analysis and Industry Forecast, 2017-2023
Introduction • The animal feed additives market is projected to reach $27,820 million by 2023, growing at a CAGR of 6.0% from 2017 to 2023. • The global animal feed additives market is expected to witness significant growth during the forecast period, owing to surge in consumption of meat products, increase in concerns over meat quality. • Feed additives are vital animal nutrition, which improve the feed quality, yield & quality of food from animal origin, and animal health. • Developing economies of Asia-Pacific and Latin America are witnessing high demand for these additives, owing to increase in awareness towards protein-rich diet.
Key Factors • Demand for animal feed additives is highly dependent on demand patterns for protein-rich food, particularly meat and meat products. • The amino acids additive type segment accounted for maximum share in 2016. • Feed additives are food supplements used for farm animals, which include vitamins, amino acids, fatty acids, and minerals. • Feed additives are gaining traction in the pet food segment, as the trend of pet humanization promotes health and well-being of pets. • Increase in demand for meat and meat products has resulted in livestock production on an industrial scale.
Animal Feed Additives Market
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Market Segmentation
Key Findings • In terms of value, the feed acidifiers segment is anticipated to exhibit the highest growth rate of 7.0% during the analysis period. • Asia-Pacific is anticipated to lead the market in 2023, growing at a CAGR of 6.5%, in terms of value. • In 2016, lysine occupied nearly two-fifths share of the overall amino acids based animal feed additives market. • On the basis of form, the liquid segment dominated the overall market and is expected to continue its dominance over the forecast period. • In 2016, poultry segment occupied around half of the overall animal feed additives market.
Key Players • • • • • • • • • •
BASF SE Cargill, Inc. Archer Daniels Midland Company Novozymes A/S Chr. Hansen Holding A/S Alltech, Inc. Evonik Industries AG Charoen Pokphand Foods Public Company Limited Nutreco N.V. and Adisseo France SAS
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