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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Feed Additives Market Analysis by Region
North America and Asia Pacific are prominent markets due to the rising demand for high-quality meat and seafood
The market share in North America is growing due to the increasing awareness about the benefits of additives for animal feed, the increase in outbreaks of diseases, and the increasing focus on animal productivity. The rising demand for high-quality seafood is also driving the demand for aquaculture feed and feed millers in the region are increasing production levels to meet this growing demand. Also, in September 2017, Cargill Inc. acquired the animal feed additive division of Southern States Cooperative, which boost sales of North American feed additives.
The Asia Pacific region also has a significant share in the feed additives market report driven by the growing demand for meat and dairy products by the region's burgeoning population. Countries like China and India are emerging as major players in the livestock industry, with a growing awareness of the importance of animal health and nutrition. This has fueled the demand for feed additives, particularly in the poultry and swine segments. The Asia Pacific market is further expected to grow at a high CAGR due to the increasing adoption of modern farming practices and the expanding aquaculture sector in countries like Indonesia and Vietnam.
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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