Global Feed Supplements Market Report and Forecast 2024-2032

Global Feed Supplements Market Outlook

The global feed supplements market size was approximately USD 42.51 billion in 2023. The market is projected to grow at a CAGR of 4.3% between 2024 and 2032, reaching a value of around USD 62.63 billion by 2032.

Key Trends in the Market

Animal feed additives play a crucial role in global feed production, enhancing efficiency, health, and metabolism in various animals, notably poultry. They contribute to improved growth, feed palatability, and essential nutrient provision. With a focus on feed efficiency in animal husbandry, these additives, encompassing probiotics, enzymes, amino acids, and vitamins, facilitate nutrient digestion and absorption.

Supplements reduce feed costs for farmers while enhancing economic viability and minimising the environmental footprint of agriculture by optimising resource use and lowering greenhouse gas emissions. In the face of escalating global food demand, feed additives emerge as a sustainable solution to meet protein needs while addressing environmental concerns in livestock production.

• The feed supplements market growth is being driven by the global increase in meat consumption. Additionally, a growing awareness of the advantages of feed additives and recent disease outbreaks among animals have positively influenced the market.

• Growing consumer awareness of diseases affecting livestock, such as swine flu and foot-and-mouth diseases, has heightened concerns about meat quality and safety. This, in turn, has spurred the adoption of feed additives.

• The feed supplements market demand is expected to be fuelled in the forecast period by the rising consumption of dairy products, driven by their health benefits and versatile applications. Various regions have experienced a sudden surge in cattle farming, given that cattle are the primary source of dairy staples like milk, cream, butter, yoghurt, and cheese, among others.

Feed Supplements Market Segmentation

Based on product, the market is categorised into minerals, vitamins, and proteins, among others. On the basis of form, the market can be bifurcated into dry and liquid. The market can be segmented based on livestock into swine, poultry, ruminants, and aquaculture, among others. The major regional markets for feed supplements are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter’s five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the global feed supplements market, covering their competitive landscape and the latest developments like mergers, acquisitions, investments, and expansion plans.

• Cargill, Incorporated

• BASF SE

• Archer-Daniels-Midland Co. 

• DSM B.V. 

• Ridley Corporation Ltd. 

• Alltech Inc. 

• Kemin Industries, Inc. 

• Chr. Hansen Holding A/S 

• Kent Nutrition Group, Inc.

• Others

Market Share by Product

As per the feed supplements market analysis, proteins such as amino acids secure a considerable share of total revenue during the historical period. Their prominence is attributed to their immune-boosting and growth-promoting capabilities, preventing various issues in animals such as skin problems and cerebral dysfunction.

Amino acids are poised to experience high demand in the forecast period as both a feed supplement and a pet food ingredient. Meanwhile, vitamins like A, D, E, K, and riboflavin are essential supplements in livestock feeds, supporting animal health and reproduction, and are gaining traction due to increased consumer awareness of their benefits.

Market Share by Region

The Asia Pacific secures a significant portion of the feed supplements market share during the historical period. This can be attributed to the region's abundant livestock population and diverse agricultural economies. Key players are anticipated to enhance their poultry feed portfolios to align with changing consumer preferences toward increased meat consumption.

In Europe, the market is innovation-driven and subject to stringent regulations concerning human health and environmental well-being, leading to frequent changes in product guidelines. Free trade agreements within the European Union are expected to positively impact the market growth. Spain's swine industry is experiencing significant growth due to lowered product prices, reduced hog production costs, increased efficiency, and a surge in pork exports. The growing swine population is driving demand for animal feed, contributing to market expansion.

In North America, particularly the United States, rising meat consumption and stringent regulations on meat quality are key market drivers. The presence of robust milling and pet food manufacturing sectors is expected to further boost the product demand. Increasing health consciousness among consumers, growing per capita meat consumption, and the abundance of raw materials like maize and dextrose are also likely to support the market expansion in the forecast period.

Competitive Landscape

Cargill, Incorporated, a global leader, connects farmers with markets, customers with essential ingredients, and families with daily necessities, promoting a sustainable food system. With 160,000 team members, Cargill prioritises innovation, empowering communities for 158 years. It also prioritises people, upholds high standards, and embraces responsibility. As a family company, Cargill provides vital food, agricultural solutions, and industrial products, fostering prosperity for farmers, delighting customers with quality ingredients, and ensuring essential products for families globally.

BASF SE creates sustainable chemistry, aligning economic success with environmental protection and social responsibility. With over 111,000 employees globally, BASF serves customers in diverse sectors worldwide. The company's portfolio includes chemicals, materials, industrial solutions, surface technologies, nutrition and care, and agricultural solutions. In 2022, BASF achieved €87.3 billion in sales. Traded on the Frankfurt Stock Exchange (BAS) and as American Depositary Receipts (BASFY) in the U.S., BASF prioritises a sustainable future through innovation and responsibility.

DSM B.V., a part of dsm-firmenich since May 2023, is a global leader in health and nutrition, leveraging bioscience to enhance the well-being of people, animals, and the planet. Driven by a purpose to create brighter lives, DSM develops innovative solutions addressing significant global challenges while generating economic, environmental, and societal value. With a dedicated team of nearly 30,000 professionals, DSM aims to be a positive force for good, contributing to a sustainable impact on people and the planet.

Other feed supplements market players include Archer-Daniels-Midland Co., Ridley Corporation Ltd., Alltech Inc., Kemin Industries, Inc., Chr. Hansen Holding A/S, and Kent Nutrition Group, Inc., among others.

Key Highlights of the Report