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

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).

The animal feed additives market growth is being driven, directly, by increasing consumption of meat and dairy produce. The expansion of the global population, coupled with continued growth in the countries of 'emerging economies', demands more protein-rich foods like meat and dairy. Pressed between the demand-supply scenarios, livestock farming, therefore tends to become highly productivity-orientated and, of course, efficiency-orientated. The necessity to meet the demand makes animal feed additives fundamental in that they maximize nutrition and health for animals. Enhanced growth rates, efficiency of reproduction, and the overall health condition of the animal all make it easier to increase productivity. By means of the use of feed additives, producers maximize the feed, encourage more rapid growth, and ensure protection from illnesses for the animals they have, with the intent to be able to continuously provide the market with what has become in demand-that is, more meat and dairy products. With all these growth promoters, additives containing probiotics, enzymes, and vitamins, which could eventually bring about increased outputs for meat and dairy, improve feed quality and nutrition, demanding more innovative and efficient feed additives that cater to global livestock needs. Moreover, the rise in the focus on animal health & welfare drives the growth of the animal feed additives industry.