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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Feed Additives Market Trends
The growing consumer knowledge regarding the benefits of feed additives coupled with the outbreak of viruses and diseases is generating the need for additives in poultry, aqua, and other animal-based sectors, which in turn, is boosting the product demand worldwide. The growing consumer inclination towards protein-rich diets has also led to an increased demand for meat, dairy products, seafood, and chicken. This is further fuelling the feed additives market expansion.
With the increase in consumption of dairy products, cattle farming is also witnessing a significant rise as it one of the primary sources of dairy products. This is likely to increase the market share over the forecast period because for ensuring an efficient yield of milk and cheese products, proper bovine nutrition is necessary.
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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