The global feed additives market is expected to grow at a CAGR of 4.7% during the forecast period 2017–2023 owing to high demand growth from emerging economies. The market has been analyzed based on types – amino acids, antibiotics, vitamins, enzymes, and others. The study has also been classified based on end-user applications – ruminants, poultry, swine, aquatic animals, and others.
Changing consumer preferences for better nutritional feed products are increasing the demand for feed additives. Further, the focus has shifted toward feed additive inclusive products to tackle the concern of nutritional loss such as unabsorbed fat and protein. The demand from consumers of ruminants and poultry industries is driving the feed additives market. Asia Pacific is currently the leading market for the overall feed additives, whereas Europe is gaining popularity in terms of other feed additive chemicals such as amino acids, antibiotics, and feed enzymes. The rising consumer per capita income along with a shift in consumer food behavior toward a protein-rich diet is strengthening the industry growth in Asia Pacific.
The global development of meat and meat-based products is lifting the global meat market, and the demand is expected to double in the upcoming years, especially in the developing countries. The safety of meat is a primary concern as many diseases erupting in livestock, including swine flu, bird flu, and infection in foot and mouth in many regions of the world. Along with this, the growing concern toward the quality of meat and meat products can provide a great platform for the growth of the feed additives market. The increasing price of raw materials of feed additives such as maize, wheat, and barley is hampering the market growth.
The study produced by Infoholic Research provides drivers, restraints, opportunities with current and emerging market trends. Further, it covers an in-depth analysis of each product and end-user application along with forecasting and trends analysis in the global feed additives market. Major companies covered in the study include big multinational players such as BASF SE, Cargill Inc., DowDuPont, Novozymes, and Novus International, Inc., which are offering different feed additives products.