USD 22.9 Billion
Report ID:
SQMIR30I2401 |
Region:
Regional |
Published Date: April, 2024
Pages:
198
|Tables:
80
|Figures:
75
North America Specialty Animal Feed Additives Market size was valued at USD 24.43 Billion in 2023 and is poised to grow from USD 26.07 Billion in 2024 to USD 43.8 Billion by 2032, growing at a CAGR of 6.7% during the forecast period (2025-2032).
A number of important developments are propelling the market for speciality animal feed additives in North America. The rising understanding of the effects of feed quality on animal performance and product quality has led to an increase in the focus on animal nutrition and health, which is one notable development. To promote animal growth, increase feed conversion efficiency, and improve general health, livestock farmers in the area are increasingly using specialist feed additives. A second factor driving the market's growth is the growing consumer demand for premium animal products including meat, dairy, and eggs, which has increased investment in animal nutrition.
The market for specialized animal feed additives in North America, however, also confronts difficulties. The regulatory environment, which may be complicated and strict, is a major hurdle. Strict regulations are imposed on the approval and use of feed additives in the area by regulatory organizations including the FDA and USDA. For manufacturers, navigating these legal requirements and maintaining compliance may be time-consuming and expensive. Additionally, there is a rising interest in natural and organic animal products, which has raised concerns about artificial feed additives. While still assuring the efficiency and safety of their speciality feed additives, manufacturers must innovate to keep up with these shifting consumer desires.
Global Market Size
USD 22.9 Billion
Largest Segment
Poultry
Fastest Growth
Poultry
Growth Rate
6.7% CAGR
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North America specialty animal feed additives market is segmented on the basis of product, livestock, region. By product, the market is segmented into encapsulated methionine, sulfate based minerals, copper, zinc, manganese, chromium propionate, tribasic copper chloride, dcad products. By livestock, the market is segmented into poultry, layers, broilers, turkey, aquaculture, salmon, trout, shrimps, pork/swine, cattle, dairy, calf, beef, others, pets. By region, the market is segmented into North America, Europe, Latin America, Asia- Pacific, Middle East and Africa.
Analysis By Product
Encapsulated Methionine emerges as the industry leader, accounting for a sizeable 35.7% market share in 2022. This dominance is related to the rising demand for methionine in swine and poultry feed formulations, which aims to boost growth performance and increase feed efficiency. Methionine in capsules is an uncommon variation of this crucial amino acid that has been engineered to withstand gastrointestinal system breakdown in animals. Higher bioavailability caused by the protective encapsulation ensures that animals can use the methionine efficiently for growth and metabolic activities, which ultimately improves growth performance and feed efficiency.
Sulfate-based minerals, on the other hand, are expanding quickly, with a stunning CAGR of 6.9% from 2023 to 2030. The increased need for sulfate-based minerals in ruminant feed applications is the main cause of this growing spike. Sulfate-based minerals are essential for improving mineral absorption and reducing the danger of mineral toxicity, which benefits animal health and wellbeing in general. These minerals are essential for many physiological processes, including bone and muscle growth and immune system support, making them a necessary component of contemporary animal feeding strategies.
Analysis By Livestock
The segmentation of the specialty animal feed additives market in North America by livestock includes a wide range of livestock types, including Calf, Beef, Other Livestock, and Pets, as well as Poultry (which includes Layers, Broilers, and Turkey), Aquaculture (which includes Salmon, Trout, and Shrimps), Pork/Swine (which includes both Cattle and Dairy), and Calf, Beef, and Aquaculture. Notably, with a significant market share of 59.2% by 2022, the poultry category establishes itself as the main force in this industry. This dominance can be ascribed to the rising demand for speciality animal feed additives in formulations for chicken feed, which are primarily intended to improve growth performance, increase feed efficiency, and improve product quality.
The nutritional needs of poultry are a primary consideration in feed formulation because they are particularly sensitive to nutrient imbalances and deficits. In order to ensure that chickens obtain the nutrients necessary for their healthy growth and wellbeing, specialty animal feed additives are crucial.
With a phenomenal CAGR of 7.8% predicted from 2023 to 2030, the aquaculture segment stands out as the market's fastest-growing sector. The increasing need for specialized animal feed additives in aquaculture feed is what's driving this growing rise. These chemicals have a critical role in enhancing growth efficiency, boosting disease resistance, and raising the general standard of aquaculture products. The importance of speciality animal feed additives in boosting the safety and quality of aquaculture-derived products is further highlighted by the fact that aquaculture remains a significant source of seafood production despite the continued growth in seafood demand.
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Regional insights indicate various trends and dynamics in the speciality animal feed additives industry in North America. The United States has historically been the dominating location within North America for speciality animal feed additives as of my most recent knowledge update in September 2021. This is mainly attributable to the nation's enormous livestock output, thriving poultry and swine sectors, and heavy emphasis on improving animal nutrition. The livestock industry in the United States is highly developed and technologically sophisticated, and speciality feed additives are used to improve animal health, feed effectiveness, and product quality. The market's position in the US has also been bolstered by American livestock farmers' growing understanding of the advantages of speciality feed additives.
Canada has had the fastest growth in North America for specialized animal feed additives. Although the livestock business in Canada is smaller than that in the United States, it has been expanding noticeably recently due to reasons including rising demand for high-quality animal products and a greater focus on animal welfare and health. The use of speciality feed additives has significantly increased as Canadian livestock producers work to increase the effectiveness of feed utilization and animal performance. Additionally, Canada's dedication to sustainable agriculture and adherence to high quality standards have encouraged the adoption of creative feed solutions, establishing it as the North American area with the fastest expanding market for specialized animal feed additives.
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Drivers
Focus on Animal Nutrition and Health
Consumer Awareness
Increasing Demand for Premium Animal Products
Restraints
Expense factors
Supply-Chain Breakdowns
Environmental Concerns
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The presence of well-known industry companies and cutting-edge newcomers in the competitive landscape of the specialty animal feed additives market in North America is indicative of the market's intense competition as they compete to satisfy the rising demand for high-quality animal nutrition solutions. Leading businesses like Cargill, Inc., Archer Daniels Midland Company, Evonik Industries AG, and Alltech, Inc. have maintained strong market positions because to their broad product portfolios, worldwide reach, and emphasis on research and development.
Product innovation is a key competitive tactic in this dynamic industry. Various livestock divisions, including poultry, swine, and aquaculture, have different nutritional demands and health issues. Market participants are investing in the development of specialized feed additives that meet these needs and concerns. Additionally, businesses are putting more emphasis on using sustainable and natural ingredients to meet customer demands for clean-label products that are good for the environment.
Top Player’s Company Profiles
Recent Developments
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, the North America specialty animal feed additives market continues to be a vital and active part of the livestock and animal nutrition sector in the area. As customer tastes and legal requirements change, major businesses in this sector are always working to innovate and be sustainable. Growing poultry consumption is slated to create attractive growth opportunities for market players in the long run. The United States is forecasted to account for a dominant share of the North America specialty animal feed additives market through 2030. An increasing understanding of clean-label and environmentally friendly solutions may be seen in the emphasis on natural and organic additives.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 24.43 Billion |
Market size value in 2032 | USD 43.8 Billion |
Growth Rate | 6.7% |
Base year | 2024 |
Forecast period | 2025-2032 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the North America Specialty Animal Feed Additives Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the North America Specialty Animal Feed Additives Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Report ID: SQMIR30I2401
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