Feed Additives Market worth $59.82 billion by 2029 - Exclusive Report by MarketsandMarkets™

DELRAY BEACH, Fla., Jan. 15, 2025 /PRNewswire/ -- The feed additives market is estimated at USD 45.38 billion in 2024 and is projected to reach USD 59.82 billion by 2029, at a CAGR of 5.7% from 2024 to 2029, according to a report published by MarketsandMarkets^™.

The feed additives market represents an important role in augmenting the quality and nutrition content of animal feed in order to enhance the animals' health and productivity for the overall efficiency of animal farming. Feed additives include vitamins, minerals, amino acids, enzymes, probiotics, among many other essential nutrients, applied heavily in livestock and poultry farms for growth, strengthening of immunity, and efficient feed consumption. With the increasing demand for meats, dairy products, and other animal-based products across the world, the global feed additives market is growing increasingly. Some of the major factors contributing to such growth are awareness of improving animal health, increasing demand from customers for quality animal products, and the pursuit towards sustainable agriculture and efficient farming. The feed additives market is also expected to pick up in the future due to innovation in feed formulations and rising concern with environmental impact reduction.

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The liquid form holds a significant share within the form sector of the feed additives market.

Liquid feed additives are becoming increasingly popular in the feed additives market due to the development of new product formulations that are expected to improve production efficiency and feed quality. For instance, in October 2022, Kemin Animal Nutrition and Health (US) launched its latest MillSAVOR Liquid and Liquid Concentrate, featuring strong surfactants to decrease surface tension in feed particles. This leads to increased milling efficiency with higher throughput and less energy consumption, which consequently increases pellet durability and starch gelatinization. Innovations like these in liquid feed additives illustrate the focus of the industry on optimizing production processes, thus increasing the nutritional quality of animal feed and further establishing the growth market share of liquid additives in the feed industry.

The natural source segment is estimated to have a significant share in the feed additives market during forecasted period.

Natural feed additives, such as phytogenic, probiotics, enzymes, carotenoids, and vitamins, which are plant, herb, spice, fungi, bacteria, and essential oil-based, are gaining a lot of ground in the feed additives market. This is because of the growing awareness and demand for organic and natural products among consumers. Consumers are increasingly opting for meat and dairy products from animals raised with fewer synthetic additives, which has led feed producers to look for natural alternatives. With increasing concern worldwide over the use of antibiotics in animal husbandry, the industry is tightening its regulations and bans on their use. These outcomes have forced manufacturers to seek less harmful, naturally favorable practices that support animal health without using antimicrobials.

The November 2022 study of the National Center for Biotechnology Information (NCBI) indicates a growing interest in natural feed additives as substitutes for antibiotics. These include prebiotics, probiotics, and phytogenics that have positive effects on gut health and enhance digestibility and animal growth. For example, Kemin AquaScience launched Pathorol, a shrimp natural phytogenic feed additive, in April 2023. It is meant to promote digestive health and growth performance in various Asian countries. Similarly, Amlan International launched natural mineral-based additives in January 2022 for poultry and livestock gut health. Some of these innovations reflect the increased role of natural feed additives in the market. Higher demand also matches consumer preferences for antibiotic-free, sustainable animal products.

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Based on region, Europe has a significant share in the feed additives market.

According to Alltech's 2024 Agri-Food Outlook, feed production in Europe is trending generally downwards. Highly the case for beef feed but less so for poultry feeds, which are only marginally upwards. The trend for pig feed has declined by 3.37% from 2022 to 2023 where a fall of 2.61 MMT took place over the year. The aquaculture industry is also not exempted where it declined by 0.12 MMT or 2.58% in Norway. However, pet feed increased by 3.2% at about 354,600 metric tons. These changes provide a great opportunity for the market of feed additives as manufacturers strive towards new feed efficiency-enhancing solutions meant to meet the regulations of sustainability. Sustainable high-quality feed additives shall continue to meet the changing demands of the livestock and pet industries in promoting better health and productivity of animals.

Europe is having a significant market share for feed additives, with leading industry players including Evonik Industries AG (Germany), BASF SE (Germany), dsm-firmenich (Switzerland), Novonesis Group (Denmark), Adisseo (France), Solvay (Belgium), and Nutreco (Netherlands). In January 20233, Evonik Industries AG (Germany) invested USD 26.5 million in MMP production in Wesseling, Germany. In April 2024 Nutreco (Netherlands) inaugurated a feed plant worth USD 26.8 million in Ibadan, Nigeria, as part of efforts to enhance regional feed supply, which will help support agriculture and aquaculture in that region.

The report profiles key players such as Cargill, Incorporated (US), ADM (US), International Flavors & Fragrances Inc. (US), Evonik Industries AG (Germany), BASF SE (Germany), dsm-firmenich (Switzerland), Ajinomoto Co., Inc. (Japan), Novonesis Group (Denmark), Adisseo (France), Solvay (Belgium), Nutreco (Netherlands), Kemin Industries, Inc. (US), Lallemand Inc. (Canada), BRF Global (Brazil), Alltech (US).

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