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Various types of feed additives are gaining popularity in the market due to the growing focus on improving animal health
Among types of additives, amino acids accounts for a significant share of the market as they are essential for protein synthesis and are used extensively in poultry and swine production. Vitamins are another important segment, providing essential nutrients for animal health and growth. Acidifiers, such as phosphoric acid, are used to improve feed performance and reduce the uptake of pathogenic organisms. Carotenoids, like beta-carotene, are used to enhance the nutritional value of animal feed and improve animal health. Enzymes, such as amylase and protease, aid in the digestion and absorption of nutrients.
Mycotoxin detoxifiers help remove harmful toxins from feed, ensuring animal well-being. Minerals, including macro minerals like calcium and phosphorus, are essential for bone health and antioxidants, such as vitamin E, help protect animals from oxidative stress. Probiotics are used to improve gut health and enhance the immune system of animals. Each of these segments contributes to the overall growth and feed additives market development.
Poultry segment dominates the market due to growing demand for eggs and a rising population of broilers
The poultry segment holds the largest share of the market due to the growing demand for micro-nutrients in poultry production, consumers’ preference for poultry meat and eggs, low production and product cost of poultry meat, and high production of compound feed for poultry. Additionally, poultry are susceptible to various diseases, such as avian flu and coccidiosis, which can significantly impact production efficiency and profitability. As a result, there is a heightened need for feed additives that enhance poultry health, immunity, and overall performance.
The ruminant’s segment is expected to account for a significant feed additives market share due to the growing demand for high-quality feed and the need for efficient nutrient in ruminant production. Ruminants are known for their ability to digest and extract nutrients from plant-based feed, but they still require additional nutrients to maintain optimal health and performance. This is where feed additives help. The aquatic animal segment is also growing due to the rising consumption of fish and fish-based products and the growing demand for high-quality aqua feed.
Feed Additives Market Regional Analysis
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Feed Additives Market Analysis
8.1 Key Industry Highlights
8.2 Global Feed Additives Historical Market (2018-2023)
8.3 Global Feed Additives Market Forecast (2024-2032)
8.4 Global Feed Additives Market by Source
8.4.1 Synthetic
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Natural
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.5 Global Feed Additives Market by Product Type
8.5.1 Amino Acids
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.1.3 Breakup by Type
8.5.1.3.1 Lysine
8.5.1.3.1.1 Historical Trend (2018-2023)
8.5.1.3.1.2 Forecast Trend (2024-2032)
8.5.1.3.2 Methionine
8.5.1.3.2.1 Historical Trend (2018-2023)
8.5.1.3.2.2 Forecast Trend (2024-2032)
8.5.1.3.3 Threonine
8.5.1.3.3.1 Historical Trend (2018-2023)
8.5.1.3.3.2 Forecast Trend (2024-2032)
8.5.1.3.4 Tryptophan
8.5.1.3.4.1 Historical Trend (2018-2023)
8.5.1.3.4.2 Forecast Trend (2024-2032)
8.5.2 Phosphates
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.2.3 Breakup by Type
8.5.2.3.1 Monocalcium Phosphate
8.5.2.3.1.1 Historical Trend (2018-2023)
8.5.2.3.1.2 Forecast Trend (2024-2032)
8.5.2.3.2 Dicalcium Phosphate
8.5.2.3.2.1 Historical Trend (2018-2023)
8.5.2.3.2.2 Forecast Trend (2024-2032)
8.5.2.3.3 Mono-dicalcium Phosphate
8.5.2.3.3.1 Historical Trend (2018-2023)
8.5.2.3.3.2 Forecast Trend (2024-2032)
8.5.2.3.4 Defulorinated Phosphate
8.5.2.3.4.1 Historical Trend (2018-2023)
8.5.2.3.4.2 Forecast Trend (2024-2032)
8.5.2.3.5 Tricalcium Phosphate
8.5.2.3.5.1 Historical Trend (2018-2023)
8.5.2.3.5.2 Forecast Trend (2024-2032)
8.5.3 Vitamins
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.3.3 Breakup by Type
8.5.3.3.1 Fat-Soluble
8.5.3.3.1.1 Historical Trend (2018-2023)
8.5.3.3.1.2 Forecast Trend (2024-2032)
8.5.3.3.2 Water-Soluble
8.5.3.3.2.1 Historical Trend (2018-2023)
8.5.3.3.2.2 Forecast Trend (2024-2032)
8.5.4 Acidifiers
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.4.3 Breakup by Type
8.5.4.3.1 Propionic Acid
8.5.4.3.1.1 Historical Trend (2018-2023)
8.5.4.3.1.2 Forecast Trend (2024-2032)
8.5.4.3.2 Formic Acid
8.5.4.3.2.1 Historical Trend (2018-2023)
8.5.4.3.2.2 Forecast Trend (2024-2032)
8.5.4.3.3 Citric Acid
8.5.4.3.3.1 Historical Trend (2018-2023)
8.5.4.3.3.2 Forecast Trend (2024-2032)
8.5.4.3.4 Lactic Acid
8.5.4.3.4.1 Historical Trend (2018-2023)
8.5.4.3.4.2 Forecast Trend (2024-2032)
8.5.4.3.5 Sorbic Acid
8.5.4.3.5.1 Historical Trend (2018-2023)
8.5.4.3.5.2 Forecast Trend (2024-2032)
8.5.4.3.6 Malic Acid
8.5.4.3.6.1 Historical Trend (2018-2023)
8.5.4.3.6.2 Forecast Trend (2024-2032)
8.5.4.3.7 Acetic Acid
8.5.4.3.7.1 Historical Trend (2018-2023)
8.5.4.3.7.2 Forecast Trend (2024-2032)
8.5.5 Carotenoids
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.5.3 Breakup by Type
8.5.5.3.1 Astaxanthin
8.5.5.3.1.1 Historical Trend (2018-2023)
8.5.5.3.1.2 Forecast Trend (2024-2032)
8.5.5.3.2 Canthaxanthin
8.5.5.3.2.1 Historical Trend (2018-2023)
8.5.5.3.2.2 Forecast Trend (2024-2032)
8.5.5.3.3 Lutein
8.5.5.3.3.1 Historical Trend (2018-2023)
8.5.5.3.3.2 Forecast Trend (2024-2032)
8.5.5.3.4 Beta-Carotene
8.5.5.3.4.1 Historical Trend (2018-2023)
8.5.5.3.4.2 Forecast Trend (2024-2032)
8.5.6 Enzymes
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.6.3 Breakup by Type
8.5.6.3.1 Phytase
8.5.6.3.1.1 Historical Trend (2018-2023)
8.5.6.3.1.2 Forecast Trend (2024-2032)
8.5.6.3.2 Protease
8.5.6.3.2.1 Historical Trend (2018-2023)
8.5.6.3.2.2 Forecast Trend (2024-2032)
8.5.7 Mycotoxin Detoxifiers
8.5.7.1 Historical Trend (2018-2023)
8.5.7.2 Forecast Trend (2024-2032)
8.5.7.3 Breakup by Type
8.5.7.3.1 Binders
8.5.7.3.1.1 Historical Trend (2018-2023)
8.5.7.3.1.2 Forecast Trend (2024-2032)
8.5.7.3.2 Modifiers
8.5.7.3.2.1 Historical Trend (2018-2023)
8.5.7.3.2.2 Forecast Trend (2024-2032)
8.5.8 Flavors and Sweeteners
8.5.8.1 Historical Trend (2018-2023)
8.5.8.2 Forecast Trend (2024-2032)
8.5.8.3 Breakup by Type
8.5.8.3.1 Flavors
8.5.8.3.1.1 Historical Trend (2018-2023)
8.5.8.3.1.2 Forecast Trend (2024-2032)
8.5.8.3.2 Sweeteners
8.5.8.3.2.1 Historical Trend (2018-2023)
8.5.8.3.2.2 Forecast Trend (2024-2032)
8.5.9 Antibiotics
8.5.9.1 Historical Trend (2018-2023)
8.5.9.2 Forecast Trend (2024-2032)
8.5.9.3 Breakup by Type
8.5.9.3.1 Tetracycline
8.5.9.3.1.1 Historical Trend (2018-2023)
8.5.9.3.1.2 Forecast Trend (2024-2032)
8.5.9.3.2 Penicillin
8.5.9.3.2.1 Historical Trend (2018-2023)
8.5.9.3.2.2 Forecast Trend (2024-2032)
8.5.10 Minerals
8.5.10.1 Historical Trend (2018-2023)
8.5.10.2 Forecast Trend (2024-2032)
8.5.10.3 Breakup by Type
8.5.10.3.1 Potassium
8.5.10.3.1.1 Historical Trend (2018-2023)
8.5.10.3.1.2 Forecast Trend (2024-2032)
8.5.10.3.2 Calcium
8.5.10.3.2.1 Historical Trend (2018-2023)
8.5.10.3.2.2 Forecast Trend (2024-2032)
8.5.10.3.3 Phosphorus
8.5.10.3.3.1 Historical Trend (2018-2023)
8.5.10.3.3.2 Forecast Trend (2024-2032)
8.5.10.3.4 Magnesium
8.5.10.3.4.1 Historical Trend (2018-2023)
8.5.10.3.4.2 Forecast Trend (2024-2032)
8.5.11 Antioxidants
8.5.11.1 Historical Trend (2018-2023)
8.5.11.2 Forecast Trend (2024-2032)
8.5.11.3 Breakup by Type
8.5.11.3.1 BHA
8.5.11.3.1.1 Historical Trend (2018-2023)
8.5.11.3.1.2 Forecast Trend (2024-2032)
8.5.11.3.2 BHT
8.5.11.3.2.1 Historical Trend (2018-2023)
8.5.11.3.2.2 Forecast Trend (2024-2032)
8.5.11.3.3 Ethoxyquin
8.5.11.3.3.1 Historical Trend (2018-2023)
8.5.11.3.3.2 Forecast Trend (2024-2032)
8.5.11.3.4 Others
8.5.12 Non-Protein Nitrogen
8.5.12.1 Historical Trend (2018-2023)
8.5.12.2 Forecast Trend (2024-2032)
8.5.12.3 Breakup by Type
8.5.12.3.1 Urea
8.5.12.3.1.1 Historical Trend (2018-2023)
8.5.12.3.1.2 Forecast Trend (2024-2032)
8.5.12.3.2 Ammonia
8.5.12.3.2.1 Historical Trend (2018-2023)
8.5.12.3.2.2 Forecast Trend (2024-2032)
8.5.12.3.3 Others
8.5.13 Preservatives
8.5.13.1 Historical Trend (2018-2023)
8.5.13.2 Forecast Trend (2024-2032)
8.5.13.3 Breakup by Type
8.5.13.3.1 Mould Inhibitors
8.5.13.3.1.1 Historical Trend (2018-2023)
8.5.13.3.1.2 Forecast Trend (2024-2032)
8.5.13.3.2 Anticaking Agents
8.5.13.3.2.1 Historical Trend (2018-2023)
8.5.13.3.2.2 Forecast Trend (2024-2032)
8.5.14 Phytogenics
8.5.14.1 Historical Trend (2018-2023)
8.5.14.2 Forecast Trend (2024-2032)
8.5.14.3 Breakup by Type
8.5.14.3.1 Essential Oils
8.5.14.3.1.1 Historical Trend (2018-2023)
8.5.14.3.1.2 Forecast Trend (2024-2032)
8.5.14.3.2 Herbs and Spices
8.5.14.3.2.1 Historical Trend (2018-2023)
8.5.14.3.2.2 Forecast Trend (2024-2032)
8.5.14.3.3 Oleoresin
8.5.14.3.3.1 Historical Trend (2018-2023)
8.5.14.3.3.2 Forecast Trend (2024-2032)
8.5.14.3.4 Others
8.5.15 Probiotics
8.5.15.1 Historical Trend (2018-2023)
8.5.15.2 Forecast Trend (2024-2032)
8.5.15.3 Breakup by Type
8.5.15.3.1 Lactobacilli
8.5.15.3.1.1 Historical Trend (2018-2023)
8.5.15.3.1.2 Forecast Trend (2024-2032)
8.5.15.3.2 Stretococcus Thermophilus
8.5.15.3.2.1 Historical Trend (2018-2023)
8.5.15.3.2.2 Forecast Trend (2024-2032)
8.5.15.3.3 Bifidobacteria
8.5.15.3.3.1 Historical Trend (2018-2023)
8.5.15.3.3.2 Forecast Trend (2024-2032)
8.5.15.3.4 Others
8.6 Global Feed Additives Market by Livestock
8.6.1 Ruminants
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.1.3 Breakup by Type
8.6.1.3.1 Calves
8.6.1.3.1.1 Historical Trend (2018-2023)
8.6.1.3.1.2 Forecast Trend (2024-2032)
8.6.1.3.2 Dairy Cattle
8.6.1.3.2.1 Historical Trend (2018-2023)
8.6.1.3.2.2 Forecast Trend (2024-2032)
8.6.1.3.3 Beef Cattle
8.6.1.3.3.1 Historical Trend (2018-2023)
8.6.1.3.3.2 Forecast Trend (2024-2032)
8.6.1.3.4 Others
8.6.2 Poultry
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.2.3 Breakup by Type
8.6.2.3.1 Broilers
8.6.2.3.1.1 Historical Trend (2018-2023)
8.6.2.3.1.2 Forecast Trend (2024-2032)
8.6.2.3.2 Layers
8.6.2.3.2.1 Historical Trend (2018-2023)
8.6.2.3.2.2 Forecast Trend (2024-2032)
8.6.2.3.3 Breeder
8.6.2.3.3.1 Historical Trend (2018-2023)
8.6.2.3.3.2 Forecast Trend (2024-2032)
8.6.3 Swine
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.3.3 Breakup by Type
8.6.3.3.1 Starters
8.6.3.3.1.1 Historical Trend (2018-2023)
8.6.3.3.1.2 Forecast Trend (2024-2032)
8.6.3.3.2 Growers
8.6.3.3.2.1 Historical Trend (2018-2023)
8.6.3.3.2.2 Forecast Trend (2024-2032)
8.6.3.3.3 Sows
8.6.3.3.3.1 Historical Trend (2018-2023)
8.6.3.3.3.2 Forecast Trend (2024-2032)
8.6.4 Aquatic Animal
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Others
8.7 Global Feed Additives Market by Form
8.7.1 Dry
8.7.1.1 Historical Trend (2018-2023)
8.7.1.2 Forecast Trend (2024-2032)
8.7.2 Liquid
8.7.2.1 Historical Trend (2018-2023)
8.7.2.2 Forecast Trend (2024-2032)
8.8 Global Feed Additives Market by Region
8.8.1 North America
8.8.1.1 Historical Trend (2018-2023)
8.8.1.2 Forecast Trend (2024-2032)
8.8.2 Europe
8.8.2.1 Historical Trend (2018-2023)
8.8.2.2 Forecast Trend (2024-2032)
8.8.3 Asia Pacific
8.8.3.1 Historical Trend (2018-2023)
8.8.3.2 Forecast Trend (2024-2032)
8.8.4 Latin America
8.8.4.1 Historical Trend (2018-2023)
8.8.4.2 Forecast Trend (2024-2032)
8.8.5 Middle East and Africa
8.8.5.1 Historical Trend (2018-2023)
8.8.5.2 Forecast Trend (2024-2032)
9 North America Feed Additives Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Feed Additives Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Feed Additives Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Feed Additives Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Feed Additives Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 Cargill, Incorporated
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Archer Daniels Midland Company
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Evonik Industries AG
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 BASF SE
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 DSM
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 Biovet S.A.
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Chr. Hansen Holding A/S
17.2.7.1 Company Overview
17.2.7.2 Product Portfolio
17.2.7.3 Demographic Reach and Achievements
17.2.7.4 Certifications
17.2.8 Novozymes Group
17.2.8.1 Company Overview
17.2.8.2 Product Portfolio
17.2.8.3 Demographic Reach and Achievements
17.2.8.4 Certifications
17.2.9 Kemin Industries, Inc.
17.2.9.1 Company Overview
17.2.9.2 Product Portfolio
17.2.9.3 Demographic Reach and Achievements
17.2.9.4 Certifications
17.2.10 Nutreco N.V.
17.2.10.1 Company Overview
17.2.10.2 Product Portfolio
17.2.10.3 Demographic Reach and Achievements
17.2.10.4 Certifications
17.2.11 International Flavors & Fragrances Inc.
17.2.11.1 Company Overview
17.2.11.2 Product Portfolio
17.2.11.3 Demographic Reach and Achievements
17.2.11.4 Certifications
17.2.12 Others
18 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Feed Additives Market: Key Industry Highlights, 2018 and 2032
2. Global Feed Additives Historical Market: Breakup by Source (USD Billion), 2018-2023
3. Global Feed Additives Market Forecast: Breakup by Source (USD Billion), 2024-2032
4. Global Feed Additives Historical Market: Breakup by Product Type (USD Billion), 2018-2023
5. Global Feed Additives Market Forecast: Breakup by Product Type (USD Billion), 2024-2032
6. Global Feed Additives Historical Market: Breakup by Livestock (USD Billion), 2018-2023
7. Global Feed Additives Market Forecast: Breakup by Livestock (USD Billion), 2024-2032
8. Global Feed Additives Historical Market: Breakup by Form (USD Billion), 2018-2023
9. Global Feed Additives Market Forecast: Breakup by Form (USD Billion), 2024-2032
10. Global Feed Additives Historical Market: Breakup by Region (USD Billion), 2018-2023
11. Global Feed Additives Market Forecast: Breakup by Region (USD Billion), 2024-2032
12. North America Feed Additives Historical Market: Breakup by Country (USD Billion), 2018-2023
13. North America Feed Additives Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Europe Feed Additives Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Europe Feed Additives Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Asia Pacific Feed Additives Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Asia Pacific Feed Additives Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Latin America Feed Additives Historical Market: Breakup by Country (USD Billion), 2018-2023
19. Latin America Feed Additives Market Forecast: Breakup by Country (USD Billion), 2024-2032
20. Middle East and Africa Feed Additives Historical Market: Breakup by Country (USD Billion), 2018-2023
21. Middle East and Africa Feed Additives Market Forecast: Breakup by Country (USD Billion), 2024-2032
22. Global Feed Additives Market Structure
The global feed additives market reached a value of USD 73.00 billion in 2023.
The market is expected to grow at a CAGR of 5.3% between 2024 and 2032.
The market is estimated to reach a value of about USD 116.34 billion by 2032.
The major drivers of the market include rising disposable incomes, increasing population, and rising consciousness regarding health and wellness of animals.
Key trends aiding market expansion include the rising consumer knowledge about the benefits of these additives, outbreak of various diseases, demand for natural feed additives, focus on animal’s gut health, and shift towards protein-rich diet.
Regions considered in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The major sources of feed additives include synthetic and natural.
The leading forms of the product in the market are dry and liquid.
Based on livestock, the market is divided into ruminants, poultry, swine, and aquatic animal, among others.
Key players in the market are Cargill, Incorporated, Archer Daniels Midland Company, Evonik Industries AG, BASF SE, DSM, Biovet S.A., Chr. Hansen Holding A/S, Novozymes Group, Kemin Industries, Inc., Nutreco N.V., and International Flavors & Fragrances Inc., among others.
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