Global Feed Additives Market

Description

The Global Feed Additives market has been accounted for US$XX Million and is expected to grow to US$XX Million by 2022, at a CAGR of XX% during the forecast period. Tremendous population growth over the years, growing demand for proteins worldwide and growing awareness about animal health and nutrition has made this emerging segment of the animal feed industry an dynamic one. Apart from increasing the cost of the final product, feed additives also increase its shelf life and digestion of the animal.

Market Dynamics:

One of the major factors affecting the feed additives market is the increasing complexities of the farm to fork value-chain, mainly because of the inefficiency of distribution channels and storage facilities in the emerging markets. Increasing number of the meat-consuming population, growing industrialization in the meat production business and changing food habits of customers, creating demand for meat with specific texture and flavor has indirectly increased the sales of feed additives. Growing awareness against the excessive use of chemicals has caused governments to have stringent regulations, especially for imported foodstuff. This has restrained the exports from a large number of Feed producing countries, especially to the European Union. However, the scenario has provided an opportunity for innovating better and safer alternatives for conventional additives. Subsidies on meat exports given by countries like India have helped the meat business to grow, thus, indirectly fuelling the growth of animal feed and feed additives industry.

Market Segmentation:

The Feed additives market is divided into antioxidants, vitamins, minerals, amino acids and colorants. Antioxidants and acidifiers are the fastest growing segment, while amino acids have traditionally been the largest, in terms of the market share. Increasing awareness about the side-effects of the additives and governments’ regulations regarding the same have created a necessity for innovation, particularly in the colorants and acidifiers segment.

Geographical analysis:

The Asia-Pacific region holds the largest market share, followed by North America and Europe. Over 35% of the feed additives produced globally come from this region. Although the market leadership and positioning differ from segment to segment, China is the biggest producer of Feed additives in the world, by volume. South East Asian countries like Thailand, Malaysia and Indonesia are relatively new markets for additives and show promising growth.

Key Players

Some of the key players in the industry include Kemira OJY, Cargill Inc., Elanco Animal Health Inc., Evonik Industries AG, Archer Daniels Midland Co., DSM Nutritional Products Inc., Pfizer Animal Health, nVivo NSA S.A., Chr. Hansen Inc., Biovet JSC and Lallemand Inc.