Animal Feed Additives Market: 2021 Industry Size, Share, Uses, Price, Trends, Growth 2019-2029 | Future Market Insights
Apr 9, 2021
2019 Analysis and Review Animal Feed Additives Market by Product Type - Minerals, Vitamins and Antibiotics for 2019 - 2029
Dubai, United Arab Emirates - April 8, 2021 /MarketersMedia/ —
Feed additives are the paramount nutritional source for animals, aiding in proper digestion and subsequent conversion which is necessary for overall animal health. Future Market Insights (FMI) projects the global animal feed additives market to rise gradually at approximately 2.2% CAGR over the forecast period (2019-2029).
"The health and welfare of animals has gained significance in recent years. This has given rise to numerous trends such as commercial livestock farming and the introduction of new products in animal feed additives market. On that premise, the market is projected to surpass US$ 18 Bn by 2029 end," concludes FMI in a new study.
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Key Takeaways of Animal Feed Additives Market Study
Poultry will constitute a major revenue share in the global animal feed additives market through 2029.
Adoption in e cattle segment will exhibit a noteworthy CAGR during the forecast period.
Amino acids continue to be preferred by consumers among other additive types.
Antioxidants will witness a surge in demand in foreseeable future.
North America accounts for substantial demand in view of higher meat consumption.
Animal Feed Additives Market - Key Growth Factors
Heightening demand for animal feed additives which are environmentally friendly is contributing significantly to overall revenue.
Greater emphasis on health and fertility of animals is bolstering market growth.
Rising expenditure by niche players is accelerating the production of animal feed.
Growing prevalence of antibiotics is propelling the growth of animal feed additives market.
Animal Feed Additives Market - Key Restraints
Economic and political situations in Asia Pacific are constraining the growth of animal feed additives market.
Certain apprehensions regarding zootechnical additives is a major factor limiting market growth.
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Competitive Landscape
Some of the key stakeholders profiled in this FMI study include, but are not limited to, Zoetis Inc., Cargill, Inc., Nutreco N.V., Novozymes A/S and Phibro, BASF SE, Koninklijke DSM N.V., and Evonik Industries Ag. Major players in the global animal feed additives market must cater to rising population in Asia Pacific. They must develop healthy alternatives such as organic feed additives which is experiencing exponential demand. Enhancing the nutritional content of animal feed additives should be the key focus area of niche players.
More about the Report
This Future Market Insights study of 230 pages provides all-inclusive insights on the global animal feed additives market. The market analysis is based on additive type (antibiotics, vitamins, antioxidants, amino acids, feed enzymes, feed additives, and minerals), livestock (ruminants, poultry, swine, and aquatic), source (plant, animal, micro-organisms) across seven regions (North America, Latin America, Europe, Asia Pacific Excluding Japan, Oceania, and Middle East & Africa, Japan).
Explore Extensive Coverage of FMI's Food & Beverages Landscape
Contact Info:
Name: Abhishek Budholiya
Email: Send Email
Organization: Future Market Insights
Website: https://www.futuremarketinsights.com/reports/animal-feed-additives-market
Source: MarketersMedia
Release ID: 89004391
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