05-Aug-2021 | Zion Market Research
Major companies in Feed Additives Market are ADM, Cargill, Dupont, BASF, Evonik, DSM, Novozymes, Ajinomoto, Chr Hansen, Tegasa, Kemin Industies Inc., Nutreco, Adisseo, Alltech, Global Nutrition International, Palital Feed Additives B.V, Centfarm SRL, NUQO Feed Additives, Novus International and Solvay among others. These players are set to bolster the development of global Feed Additives market.
According to analysts at Zion Market Research, the global Feed Additives market accounted for more than USD 34.55 Billion in 2020 and is expected to reach USD 54.03 Billion by 2028, growing at a CAGR of 5.7% from 2021 to 2028.
This review is based on a report by Zion Market Research, titled “Feed Additives Market By Form (Dry, Liquid), By Type (Amino Acids, Vitamins, Phosphates, Acidifiers, Enzymes, Flavours & Sweeteners, Antibiotics and Others), By Livestock (Poultry, Ruminants, Swine and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2028.”
Increase in demand for livestock products to Spur Growth
The increase in the demand for the livestock products such as meat, dairy based products and eggs drives the usage of feed additives in feed required for the growth and development of farm animals. Also, the increasing awareness about the role and dynamics of the food nutrients on the mental and physical growth and development, has boosted the demand for the feed additives. The global population has also been increasing which is driving the global food demand, thus creative a positive impact on the feed additives market. The rising incomes, changing lifestyles and rising health consciousness has changed the dietary habits of the consumers increasing the protein content in their diets and decreasing the carbohydrates.
The industrialization of meat production, increasing concerns on the quality of livestock products and increasing focus on livestock disease prevention has also boosted the demand for the feed additives.
Global Feed Additives -Market
With the presence of a large pool of participants, the global Feed Additives market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research. ADM, Cargill and Dupont, are some of the key vendors of Feed Additives market across the world. These players across Feed Additives market are focusing aggressively on innovation, as well as on including advanced technologies in their existing products. Over the coming years, they are also expected to take up partnerships and mergers and acquisitions as their key strategy for business development, states the Feed Additives Market study.
Presence of Big Players In The Region Support North American Dominance
Regionally, North America has been leading the worldwide Feed Additives Market and is anticipated to continue on the dominant position in the years to come, states the Feed Additives Market study. The growing demand for the meat has stimulated the production of livestock which has boosted the feed additives market in this region. The mass production of livestock and the increased consumption of animal sourced products has increased the demand for feed additives in this region. Also, there has been considerable increase in the consumption of livestock products such as dairy and dairy based products, eggs and meat which has led the manufacturers to produce the feed additives in large numbers.
Browse the full “Feed Additives Market By Form (Dry and Liquid), By Type (Amino Acids, Vitamins, Phosphates, Acidifiers, Enzymes, Flavors & Sweeteners, Antibiotics and Others), By Livestock (Poultry, Ruminants, Swine and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2020 – 2028.” Report at https://www.zionmarketresearch.com/report/feed-additives-market
The global Feed Additives Market is segmented as follows:
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