Global Animal Feed Additives Market

Animal Feed Additives Market Size, Share, Growth Analysis, By Source (Natural, Synthetic), By Form (Dry, Liquid), By Livestock (Poultry, Cattle), By Region -Industry Forecast 2024-2031

Report ID: SQMIG15C2085 | Region: Global | Published Date: November, 2024
Pages: 163 | Tables: 121 | Figures: 72

Animal Feed Additives Market Competitive Landscape

In turn, companies within the animal feed additives industry have majorly taken what has made them leaders through mergers, product launching, acquisition, partnership, and collaborations. In fact, to hold their position in the highly competitive business, such leading entities of the industry have also concentrated their further efforts on enhancing the geographical market reach.

Top Player’s Company Profile

  • BASF SE
  • Cargill, Inc.
  • Archer Daniels Midland Company
  • Evonik Industries AG
  • Nutreco N.V.
  • Addcon Group
  • Aliphos Belgium S.A.
  • Kemin Industries Inc.
  • Koninklijke DSM N.V.
  • Phibro Animal Health Corporation.
  • ADM
  • DSM
  • Elanco
  • Alltech, Inc.
  • BIOMIN Holding Gmbh

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FAQs

Global Animal Feed Additives Market size was valued at USD 42.0 Billion in 2022 and is poised to grow from USD 43.81 Billion in 2023 to USD 58.82 Billion by 2031, growing at a CAGR of 4.3% in the forecast period (2024-2031).

In turn, companies within the animal feed additives industry have majorly taken what has made them leaders through mergers, product launching, acquisition, partnership, and collaborations. In fact, to hold their position in the highly competitive business, such leading entities of the industry have also concentrated their further efforts on enhancing the geographical market reach. 'BASF SE', 'Cargill, Inc.', 'Archer Daniels Midland Company', 'Evonik Industries AG', 'Nutreco N.V.', 'Addcon Group', 'Aliphos Belgium S.A.', 'Kemin Industries Inc.', 'Koninklijke DSM N.V.', 'Phibro Animal Health Corporation.', 'ADM', 'DSM', 'Elanco', 'Alltech, Inc.', 'BIOMIN Holding Gmbh'

The increased intake of meat in the global market significantly influences animal feed additives. The livestock producers use the additives to improve the growth rate, increase feed efficiency, and provide optimal health for the animals to meet customers' demands for the quality of the meat since they are in search of the best source of protein.

Growing Usage of Data Analytics Tools: One of the major animal feed additives market trends include rising usage of data analytics tools. Data analytics is becoming increasingly adopted in animal nutrition by the farmers as they take advantage of technology to track the health conditions of their animals and alter feeding processes. The performance data and feed efficiency allow them to make informed decisions about increased production and lower costs. This development will provide more specialized nutritional approaches in the wake of which feed formulation and management will witness greater innovation.

As per the animal feed additives market forecast, Asia-Pacific in 2023 had the highest market share and will grow at a significant CAGR during the projection period. There are a few factors pushing the increased demand for animal feed additives in Asia-Pacific. Primarily, meat, dairy, and poultry product demand are experiencing high rise due to fast urbanization and population growth requiring enhanced animal productivity. Changes in diets towards higher protein diets have resulted in increased demand for animal products, and the growing aquaculture sector in the region will require specialized feed additives to enhance the growth and welfare of aquatic species. Increasing knowledge of the health and welfare of livestock among customers and producers are also driving the use of feed additives to improve animal welfare.

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Global Animal Feed Additives Market

Report ID: SQMIG15C2085

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