Cibi e Bevande
Feed Additives Market Report 2023 Projected to Reach USD 17.1 Billion and Exhibit a CAGR of 9.1% | Facts & Factors
The European Commission has defined feed additives as products used in animal nutrition for enhancing animal feed quality and the quality of foods of animal origin including meat, milk, eggs, and fish. These feed additives are used for enhancing the performance and health of animals. Furthermore, the use of feed additives in animal nutrition is the use of the right additive at the right time and in the right amounts adhering to the legislations of the countries.
Moreover, feed additives added to animal feeds in the right proportion provides numerous benefits to animal breeders. Some of these benefits include improving the digestive ability of animals, enhancing feed quality, preserving feed nutrients, and improving the quality of animal products. Reportedly, feed additives are used for fulfilling the nutritive needs of animals for improving their breed for meat & milk, and other animal-based products.
Facts and Factors published the latest report titled into their research database.
The rise in feedstock farm sizes has catapulted the demand for feed additives in recent years. Apart from this, the commercialization of livestock farming, reduction of grazing lands, and the need for feed ingredients consisting of high nutritive value will accentuate the growth of the global feed additives market.
Moreover, the need for feed efficacy will further embellish the expansion of the global feed additives market. As per the International Feed Industry Federation, commercial feed production produces an estimated yearly turnover of more than $400 billion .
Furthermore, a rise in feed production, demand for livestock-based items, and a surge in livestock population will contribute majorly towards global market profits. Massive demand for high-quality animal-based proteins and awareness about the benefits provided by feed additives will expedite the size of the feed additives market.
In addition to this, the rising acceptance of precision-based livestock farming activities and government aid for using feed additives in animal feed has enlarged the scope of growth for the market across the globe.
The surge in raw material costs and a ban on the use of antibiotics can put brakes on the global feed additives industry growth in the near future. The easy availability of crop residues as feeds can further impede the global feed additives industry expansion.
Feed additive manufacturers are adopting new kinds of natural feed additives along with new growth enhancers such as botanical additives like appropriate herb blends and plant extracts. This, in turn, is predicted to generate new growth opportunities for the global feed additives industry.
The sustainability of feed additives and livestock chain are the two key challenges that can impact the growth of the feed additives industry globally.
In terms of additives, the global feed additives market is sectored into phytogenics, enzymes, acidifiers, antibiotics, antioxidants, amino acids, prebiotics, binders, minerals, mycotoxin detoxifiers, flavors & sweeteners, pigments, vitamins, probiotics, and yeast segments.
Furthermore, the amino acid segment, which accounted for more than 70% of the global market share in 2022, is set to record the fastest CAGR of 5.1% over the forecasting period. The segmental surge in the next eight years can be attributed to the ability of amino acids in improving the development of animals.
Based on livestock, the feed additives industry across the globe is divided into ruminants, aquaculture, poultry, and swine segments. The poultry segment, which contributed for about three-fourths of the global industry share in 2022, is expected to rule the global industry expansion even in the foreseeable future. The growth of the segment in the coming years can be subject to growing awareness about animal health as well as customer inclination for particular yolk and meat leading to humongous penetration of feed additives in the poultry segment.
https://www.fnfresearch.com/inquiry/feed-additives-market
https://www.fnfresearch.com/ask-to-analyst/feed-additives-market
Asia-Pacific , which accounted for more than 61% of the global feed additives market revenue in 2022, is anticipated to dominate the regional market growth during the projected timeline. The regional market expansion over 2023-2030 can be due to the large presence of livestock in countries such as Japan , Thailand , Indonesia , and India . In addition to this, there are a large number of feed mills in the countries such as Thailand , China , and Indonesia .
On the other hand, the North American feed additives industry is set to record the fastest CAGR of nearly 14.1% in the forecasting timeline. The growth of the market in the region can be credited to the rise in the sale of commercial seed in the countries such as the U.S. In addition to this, the presence of key product manufacturers in the region will contribute majorly to the regional industry size.
Facts and Factors is an obligated company. We create futuristic, cutting-edge, informative reports ranging from industry reports, and company reports to country reports. We provide our clients not only with market statistics unveiled by avowed private publishers and public organizations but also with vogue and newest industry reports along with pre-eminent and niche company profiles. Our database of market research reports comprises a wide variety of reports from cardinal industries. Our database is been updated constantly to fulfill our clients with prompt and direct online access to our database. Keeping in mind the client's needs, we have included expert insights on global industries, products, and market trends in this database. Last but not the least, we make it our duty to ensure the success of clients connected to us—after all—if you do well, a little of the light shines on us
Facts and Factors
Tel: +1 347 690-0211
USA /Canada Toll-Free No. +44 2032 894158
: sales@fnfresearch.com
: https://www.fnfresearch.com/
Logo: https://mma.prnewswire.com/media/1981423/FnF_Research_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/feed-additives-market-report-2023-projected-to-reach-usd-17-1-billion-and-exhibit-a-cagr-of-9-1--facts--factors-301838619.html