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The Animal Feed Additives Market size is forecast to increase by USD 9.62 billion, at a CAGR of 6.35% between 2023 and 2028. The growth rate of the market depends on several factors, including the rise in global meat consumption, the growing demand for feed additives owing to rising disease outbreaks in livestock, and the increasing investments and focus on expanding production capabilities.
The report offers extensive research analysis on the market, with a categorization based on Application, including poultry, ruminants, swine, and others. It further segments the market by Type, encompassing dry and liquid. Additionally, the report provides Region segmentation, covering APAC, Europe, North America, the Middle East and Africa, and South America. Market size, historical data (2018-2022), and future projections are presented in terms of value (in USD billion) for all the mentioned segments.
Animal feed additives are added to livestock feed given to farm animals that require extra nutrients such as vitamins, fatty acids, amino acids, and minerals to grow at a healthy rate.
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Our researchers analyzed the market research and growth data with 2023 as the base year, along with the key market growth analysis, trends, and challenges. A holistic analysis of drivers, trends, and challenges will help companies refine their marketing strategies to gain a competitive advantage.
One of the key factors driving the market growth is the rise in global meat consumption. The global per capita consumption of meat has increased at a steady rate in the past decade. In addition, the rise in the population also drives the global meat market and has increased production capacity and supply. Furthermore, people have become more conscious about protein intake in their daily diet.
Moreover, this has led to an increase in meat consumption. In addition, there has been a significant increase in meat production and consumption, particularly in developing countries such as China and India. Furthermore, rapid urbanization and changing consumer preferences regarding the consumption of meat have also led to an increase in the demand for animal feed additives as producers aim to improve the efficiency and quality of their production processes. Hence, such factors are driving the market growth during the forecast period.
A key factor shaping the market growth is the growing number of strategic partnerships and acquisitions. Manufacturers in this space actively collaborate with raw material suppliers to enable uninterrupted supply and partner with distributors to ensure a steady market for their products. In addition, with strategic alliances, manufacturers are able to broaden their product portfolio and improve operational capabilities.
For instance, in October 2021, BASF and Cargill announced that they are expanding their partnership into developing and marketing innovative enzyme-based solutions for the animal feed industry. In addition, in February 2021, Alltech and DLG Group joined up with the goal of providing cattle producers in Scandinavia with efficiency and profitability. Hence, such factors are driving the market growth during the forecast period.
The increase in raw material prices of animal feed additives is one of the key challenges hindering market growth. A rise in raw material prices is a major challenge faced by feed manufacturers across the world. In addition, feed acids, antioxidants, and vitamins are extracted from natural sources including seeds, bark, and leaves.
Moreover, the rising cost of extraction from these sources, coupled with stringent regulations for waste biomaterials and wastewater treatment, restrains the animal feed additives market growth. In addition, with the growing global population and the consequent rise in demand for food, the animal feed industry is facing severe pressure in procuring raw feed such as corn, wheat, and barley. Hence, such factors are hindering the market growth during the forecast period.
The poultry segment is estimated to witness significant growth during the forecast period. Increasing concerns about animal health and consumer preferences for a specific color of yolk and meat have driven the demand for poultry feed additives. In addition, enzymes, antioxidants, amino acids, carotenoids, probiotics, antibiotics, and mycotoxin detoxifiers are the most commonly used additives for poultry.
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The poultry segment was the largest segment and was valued at USD 9.15 billion in 2018. Moreover, the global poultry feed additive market is expected to register significant growth fuelled by the global rise in poultry consumption. In addition, influencing factors such as changing lifestyles, the rise in disposable income, and the increasing population are expected to have a positive impact on the poultry feed market. Furthermore, poultry consumption in countries including the US, the UK, and Argentina has been surging due to the rise in the price of beef, and this will have a positive impact on the poultry feed market. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
Based on the type, the market has been segmented into dry and liquid. The dry?segment will account for the largest share of this segment. Dry segment are provided to animals in a dry, solid, or powdered form. In addition, these feed additives are used to improve the nutritional value of animal feed, enhance growth, and improve the health and productivity of animals. Moreover, the dry form of animal feed additives includes minerals such as calcium, phosphorus, and other minerals that are important for the proper growth, development, and overall health of animals. Furthermore, essential vitamins such as A, D, E, and K are required for the proper metabolism, growth, and overall health of animals. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
APAC is estimated to contribute 58% to the growth of the global market during the projection period. Technavio's analysts have provided extensive insight into the market forecasting, detailing the regional trends and drivers influencing the market's trajectory throughout the projection period.
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The animal feed additives market in APAC is expected to grow at a steady rate fueled by factors such as the growing demand for poultry and other meat products. In addition, grain, mineral supplements, protein supplements, and vitamin supplements are some of the popular feed additives used in poultry feedstuff. Moreover, poultry feed additives are formulated based on factors such as the weight and age of the poultry, rate of growth, rate of egg production, and weather conditions. Meanwhile, the North America poultry feed market faces challenges including reliance on imported ingredients and volatile feed component pricing. Despite these challenges, innovations in feed additives and management practices are poised to drive growth in the North America poultry feed market, responding to evolving consumer preferences and regulatory landscapes. This market scenario contrasts with the rapid growth observed in APAC, particularly in countries like Vietnam, Thailand, and Malaysia, driven by increasing meat consumption and industrialization of the livestock industry.
Companies are implementing various market growth and forecasting strategies by analyzing factors such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product or service launches, to enhance their presence in the market.
Ajinomoto Co. Inc: The company offers animal feed additives for poultry, swine, and dairy cows through its subsidiary Ajinomoto Health and Nutrition North America Inc.
The report also includes detailed analyses of the competitive landscape of the market and information about 20 market companies, including:
Alltech Inc., Archer Daniels Midland Co., Associated British Foods Plc, BASF SE, Biochem additives and product mbH, Bluestar Adisseo Co., Cargill Inc., Chr Hansen Holding AS, Corbion nv, Evonik Industries AG, Imerys S.A., International Flavors and Fragrances Inc., Jefo, Kemin Industries Inc., Koninklijke DSM NV, Land O Lakes Inc., Novozymes AS, Novus International Inc., Nutreco N.V., and Solvay SA
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market report predicts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
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Animal Feed Additives Market Scope |
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Report Coverage |
Details |
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Page number |
178 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 6.35% |
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Market Growth 2024-2028 |
USD 9.62 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
6.05 |
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Regional analysis |
APAC, North America, Europe, South America, and the Middle East and Africa |
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Performing market contribution |
APAC at 58% |
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Key countries |
US, China, India, UK, and Brazil |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Ajinomoto Co. Inc., Alltech Inc., Archer Daniels Midland Co., Associated British Foods Plc, BASF SE, Biochem additives and product mbH, Bluestar Adisseo Co., Cargill Inc., Chr Hansen Holding AS, Corbion nv, Evonik Industries AG, Imerys S.A., International Flavors and Fragrances Inc., Jefo, Kemin Industries Inc., Koninklijke DSM NV, Land O Lakes Inc., Novozymes AS, Novus International Inc., Nutreco N.V., and Solvay SA |
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Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period |
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Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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