The Feed Additives Market is expected to Witness a CAGR of 4.7% during the Forecast period to reach a value of $25.26 billion by 2023
Bangalore, India, July 31, 2018: With its recently published study “Feed Additives Market: Global Drivers, Restraints, Opportunities, Trends, and Forecast up to 2023”, Infoholic Research forecasts that the global market for feed additives will continue to expand. The growing disposable income among developing countries and the increasing penetration of feed additives in various livestock are the key factors driving the market growth. Further, the changing consumer preferences for better nutritional feed products are increasing the demand for feed additives. This pattern is expected to continue during the forecast period to increase the feed additives market revenue to $25.26 billion by 2023, growing at a CAGR of 4.7%.
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Feed additives are a special category of specialty chemicals used to increase the benefits of animals feed. They have vital animal nutrition, which improves the feed quality, yield & quality of food from animal origin, and animal health. Feed additives improve digestibility, nutritional value tests, and increase immunity for reducing treatment cost for animal rearing. Also, they have specific purposes in different stages of the livestock development cycle. The additives can be broadly classified into amino acids, antibiotics, enzymes, vitamins, and acidifiers among many others. Feed additives are consumed by ruminants, poultry, swine, aquatic animals, and others. Technologically developed feed additives are gaining a competitive advantage over the traditional feed in terms of performance, animal health benefits, and better gain margins for the farmers.
“Feed additives have come a long way from being considered a premium product to becoming an essential food for livestock. It has become a critical addition to regulatory compliance in some geographies. Increasing affordability will give an impetus to the market. The market that was earlier dominated only by the developed countries is now finding a strong foothold in developing countries, such as China, wherein the domestic market is quite robust and offers high potential for growth. The market is still in the nascent stage and is expected to witness rapid growth in the next 5–6 years.” – Khushboo Pandey, Research Analyst, Infoholic Research
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The key insights of the report are as follows:
- The global feed additives market has been analyzed based on material types:
- Amino Acids
- The study constitutes a classification based on end-user areas:
- Aquatic Animals
- The study covers the below-mentioned geographies:
- Asia Pacific
- North America
- Rest of the World
- Industry outlook: Market trends, drivers, restraints, and opportunities