Animal Feed Additives Market was valued at $19,642 million in 2017 & is projected to reach $31,387 million by 2025, growing at a CAGR of 6.0% from 2018 to 2025.
PORTLAND, OREGON, UNITED STATES, March 30, 2023 /EINPresswire.com/ — Demand for animal feed additives is highly dependent on demand patterns for protein-rich food, particularly meat and meat products. Developing economies of Asia-Pacific and Latin America are witnessing increase in demand for these additives, owing to rise in awareness toward protein-rich diet.
Feed additives are food supplements used for farm animals, which include vitamins, amino acids, fatty acids, and minerals. There is an increase in the adoption of safe and affordable feed additives with the rise in the global demand for meat and poultry products in the end-use sectors. In addition, feed additives gain traction in the pet food segment, as the trend of pet humanization promotes health and well-being of pets.
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Leading market players-
The key market players analyzed in the global animal feed additives market include Cargill, Inc., BASF SE, Evonik Indus tries AG, Nutreco N.V., Archer Daniels Midland Company,Phibro Animal Health Corporation, Addcon Group, Aliphos Belgium S.A., Kemin Industries Inc., and Koninklijke DSM N.V. They have incorporated a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
The amino acids segment to lead the trail by 2025-
Based on additive type, the amino acids segment contributed to one-fourth of the total market revenue in 2017 and is expected to rule the roost throughout the estimated period. The feed acidifiers segment, on the other hand, is expected to grow at the fastest CAGR of 7.1% throughout 2018–2025.
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The poultry segment to dominate during the study period-
Based on livestock, the poultry segment accounted for nearly half of the total market share in 2017 and is predicted to maintain its dominance during 2018–2025. At the same time, the aquatic animals would cite the fastest CAGR of 6.6% by 2025.
Asia-Pacific to remain lucrative in terms of revenue-
Based on geography, the region across Asia-Pacific held the largest share in 2017, generating more than one-third of the total market. The same province would also cite the fastest CAGR of 6.6% during the estimated period.
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Article originally published on www.einpresswire.com as Animal Feed Additives Market Overview, Size, Share