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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Feed Additives Market Size
The size of global feed additives market was around USD 73.00 billion in 2023. The market is further expected to grow at a CAGR of 5.3% over the forecast period of 2024-2032 to attain a value of USD 116.34 billion by 2032.
Feed Additives Market Outlook
- China, the United States, and Brazil are the top three feed-producing countries.
- In 2019, the total livestock population in India was 535.78 million, showing an increase of 4.6% over the 2012 Livestock Census. This includes population of cattle, buffalo, sheep, and goat, among others.
- As per industry reports, feed production increased by 1.6%, 0.88%, and 0.32% in Latin America, North America, and Oceania in 2022.
Feed Additives Market Report Snapshots
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.*
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Key Questions Answered in the Report
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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