SAN FRANCISCO, April 3, 2019 /PRNewswire/ -- The global animal feed additives market size is expected to reach USD 47.32 billion by 2025, according to a new report by Grand View Research, Inc. It is anticipated to expand at a CAGR of 3.8% during the forecast period. Focus on improving overall feed yield has been a critical factor for the surge in feed additives demand. Increasing the consumption of meat and milk products as a source of protein and other essential nutrients is expected to further fuel the growth.
Key suggestions from the report:
In terms of revenue, Asia Pacific emerged as the fastest growing region. Countries, particularly India and China are anticipated to witness remarkable growth in the next seven years
Poultry, with a market share of more than 38% by volume, emerged as the largest livestock segment in the past
The animal feed additives market is partially consolidated and competitive, with the presence of major global players
Some of the key companies are AFB International; Alltech, Kemin Industries Inc.; Evonik; DuPont; DSM; Nutreco N.V.; Archer Daniels Midland; and Cargill; among others.
Feed additives are considered an integral part of animal feed. Additives act as a catalyst that help disease prevention in animals, improve weight gain, vitamin intake, feed digestion, and conversion; thereby enhancing the quality of meat production. This factor is anticipated to propel the global demand over the forecast period.
The animal feed additives must comply with Regulation (EC) 999/2001, Regulation (EU) 142/2011, and Regulation (EC) 1069/2009. The production order in the installation should be predefined complying with the standards laid by the regulatory bodies. In addition, the production order must be registered and defined as these will be taken into consideration during transferring the formulation up to production.
Saponins and tanins are gaining wide acceptance from animal feed additives market. In ruminant animals, the most important applications of tanins are to control intestinal parasites, pathogenic bacteria load, and animal pasture bloat. Strong protein affinity of tanins contributes towards reducing protein degradation which further helps improve production efficiency and protein utilization in the rumen.
Grand View Research has segmented the global animal feed additives market on the basis of product, livestock, and region:
Ethoxyquin Market – Global ethoxyquin market is expected to witness high demand over the next seven years on account of rising consumption of pet food preservatives, increasing trade of food items among distant countries, growing need for effective pesticides, and rising global agricultural output.
Animal Nutrition Chemicals Market – Global animal nutrition chemicals market is expected to witness significant growth over the next seven years owing to increasing safe and healthy pet food demand especially in North America and Europe.
Phytogenics Market – Global phytogenics market is anticipated to witness substantial growth owing to its increasing application in animal feed on account of growing demand for meat over the forecast period.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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