Major players in the feed additives market are Cargill Incorporated, Archer Daniels Midland (ADM) Company, DuPont de Nemours Inc., Evonik Industries AG, BASF SE, Koninklijke DSM N.V., Novozymes A/S, Chr.
New York, June 01, 2023 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Feed Additives Global Market Report 2023” –
Hansen A/S, Nutreco N.V., Kemin Industries Inc., Alltech, Ajinomoto Co.Inc., Adisseo Co, Tegasa, Palital Feed Additives B.V., and Solvay S.A.
The global feed additives market is expected to grow from $18.28 billion in 2022 to $19.88 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The feed additives market is expected to reach $25.83 billion in 2027 at a CAGR of 6.8%.
The feed additives market consists of sales of sensory feed additives, nutritional feed additives, zootechnical feed additives, and coccidiostats and histomonostats feed additives.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.
The value of goods in this market includes related services sold by the creators of the goods.
Feed additives refer to animal nutrition products that are used to improve the quality of animal food, in addition to animals’ performance and health. Feed additives contain numerous chemicals, substances, or organisms that increase nutritional ingestion, absorption, and assimilation.
Asia-Pacific was the largest region in the feed additives market in 2022. The regions covered in feed additives report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main product types of feed additives are amino acids, phosphates, vitamins, acidifiers, carotenoids, enzymes, mycotoxin detoxifiers, flavors and sweeteners, antibiotics, and others.Amino acids are molecules that combine to form proteins.
The various livestock involved is poultry, ruminants, swine, aquatic animals, and others which are obtained from synthetic and natural sources in liquid and dry form.
The growing meat and dairy products are expected to propel the growth of the feed additives market going forward.Meat, which is defined as the flesh of animals (including fish and birds) that is consumed as food and can be a part of a healthy diet, and dairy products include milk and any milk-based foods such as butter, cheese, ice cream, etc.
Feed additives are products that are added to animal feed to help meet the animals’ nutritional needs.It encourages the production of meat and dairy products in order to improve the quality of animal feed and food.
For instance, in May 2022, according to a report published by Government of Canada official website, Canadian consumers’ per capita meat consumption was Can$601.1 in 2021, up from Can$523.9 in 2017, and is expected to rise to Can$723.1 by 2026. Therefore, growing meat and dairy products are driving the growth of the feed additives market.
Product innovation is a key trend gaining popularity in the feed additives markets.Major companies operating in feed additives are focused on developing innovative solutions to strengthen their position in the market.
For instance, in February 2021, Kemin Industries Inc., a US-based manufacturer of specialty ingredients for several industries, including human/animal health and nutrition, pet food, aquaculture, launched KemTRACE Chromium-OR, a water-soluble, highly bioavailable, organic-compliant chromium propionate feed ingredient for use in swine, cattle, broiler, and horse diets. It helps in improving the maintenance, reproduction, growth, and immunity of swine, cattle, broilers, and horses. Additionally, it improves glucose utilization and reduces the negative impacts of stress for increased cellular energy and function in animals.
In June 2022, Cargill Incorporated, a US-based agribusiness and animal nutrition company, acquired Delacon Biotechnik Ges.m.b.H. for an undisclosed amount. Through this acquisition, Cargill Incorporated aims to expand its portfolio with significant experience in feed additives, a global footprint, and assistance in the production of more nutritious food, which will improve livestock and aquaculture performance and promote animal health. Delacon Biotechnik Ges.m.b.H., is an Austria-based feed additive company.
The countries covered in the feed additives market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The feed additives market research report is one of a series of new reports that provides feed additives market statistics, including feed additives industry global market size, regional shares, competitors with feed additives market share, detailed feed additives market segments, market trends, and opportunities, and any further data you may need to thrive in the feed additives industry. This feed additives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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