The global animal feed and feed additives market is progressing at a CAGR of 4.1% from 2018 to 2026, according to a research report released by leading market intelligence provider, Transparency Market Research. This market was valued at US$17.5 bn in 2018 and is expected to reach US$24.1 bn by the end of 2026. The above data feature in a new TMR research report, titled “Animal Feed and Feed Additives Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast 2018 - 2026.” The report takes into consideration the various drivers, restraints, and growth opportunities for players as well as investors.
Soaring Meat Consumption to Hold Direct Impact on
Demand for Animal Feed and Feed Additives
The growing scope of animal husbandry has allowed a greater range of
products and players to enter the global animal feed and feed additives market
over the recent past. Feed additives provide the different nutritional and
protective functions necessary to maintain the healthy growth of the animal
while warding off risks of diseases and infections. Other functions of animal
feed include enhancing weigh gain, improve digestion, and act as a nutritive
supplement for any vitamin deficiencies. Feed additives have slowly but surely
become an inseparable part of the animal diet on the farms and dairies.
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The greatest driver of the global animal feed and feed additives market,
as experienced over the past few years, is the rapidly increasing rate of meat
consumption. With the higher demand for raising animals, the global animal feed
and feed additives market takes a significant push towards more profitable
avenues.
Animal Feed and Feed Additives Market in Developing
Economies to See Notable Growth
The rate of meat consumption has especially increased in the emerging
economies of India, Brazil, and China. These three nations accounted for nearly
23% of the total meat consumption in 2018. By 2026, their collective share is
expected to reach 39%. This is a major increase in proportion, which is leading
many players from the global animal feed and feed additives market to focus on
these nations and similar others.
North America was leading the global animal feed and feed additives
market’s segment of amino acids in 2018. This region held a share of 29.9% in
the amino acids segment in that year. Within the Asia Pacific region, China
held 49.5% of amino acid animal feed additives in the same year, followed by
Japan.
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Asia Pacific is expected to lead the global animal feed and feed additives
market in terms of growth rate as well as market share by 2026, suggest the
authors of the report. In terms of market share, Asia Pacific accounted for
32.4% of the global animal feed and feed additives market in 2018, a share
percentage that was closely followed by Europe. Europe is the second fastest
growing region in the global animal feed and feed additives market.
For the given forecast period, the Asia Pacific animal feed and feed
additives market is expected to progress at a 4.0% CAGR within the given
forecast period.
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The key players in the global animal feed and feed additives market, as
described in the report, include DSM, Novozymes, Kemin Industries, Evonik
Industries AG, Danisco A/S, Chr. Hansen, BASF SE, and Addcon Group GmbH. Most
of these global players hold a high rate of trust among their diverse client
groups and are highly preferred, especially in developed economies.
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