The feed additives market is expected to exhibit a sustainable growth rate of 5%, to reach over USD 40 billion by the end of 2025. The main growth factor for feed additives is an increase in consumption of meat products coupled with growing awareness among the consumers about the outbreak of livestock diseases. Furthermore, global industrialization of meat products boosts the market growth. The demand for meat and meat-based products is expected to register a lucrative growth by 2025 in the developing economies.
In the Asia-Pacific region, China is considered to be the largest feed producer in the world since 2011. The highest growth in feed production is mainly due to swine and aquatic animals. Accordingly, the feed additives industry has experienced rapid development in the recent years and is expected to grow, especially due to the consumption of amino acids and enzymes in the next eight years. China is a leading producer of some of the key feed additives such as vitamin C, vitamin E, choline, lysine, and others.
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The feed additives market has been segmented on the basis of additive type, animal type, and form. The additive type segment is further classified into amino acids, phosphate, vitamins, acidifiers, carotenoids, Enzymes, mycotoxin detoxifiers, minerals, flavors & Sweeteners, antibiotics, antioxidants, non-protein nitrogen, and others.
Consumption of feed additives in the North America region is mainly driven by the maximum production of animal products. Cattle, poultry, and swine are anticipated to witness lucrative growth as the outbreak of animal diseases, during 2012 to 2015, came to an end.
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Geographically, the feed additives market is divided into five regions which include North America, Europe, Asia-Pacific, South America, and Middle East & Africa. Increase in demand for feed additives in economies like Asia-Pacific and rise in concern for the quality of meat & poultry products are the major growth factors for the adoption of additives for several animals, such as poultry, swine, aquatic animals, and cattle.
Key manufacturers operating in the global feed additives market include BASF, ADM, Evonik, Adisseo, and DSM, Chr. Hansen, InVivo, Alltech, Nutreco, Novozymes, DuPont, Solvay, Ajinomoto Co., Inc., Balchem, Kemin Industries, Novus, BIOMIN, Norel, and Nutriad.
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Renowned global market leaders, such as Cargill, Charoen Pokphand Foods Public Company, Adisseo France, and Alltech, are adopting various growth strategies to expand their market presence and cater to the growing demands of feed additives
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