According to our latest market study on “Animal Feed Additives Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Type (Amino Acids, Vitamins, Carotenoids, Enzymes, Prebiotics And Probiotics, Minerals, Acidifiers, Lipids, And Others) and Livestock (Poultry, Ruminants, Swine, Aquaculture, and Others) and Geography,” the market was valued at US$ 34,583.5 million in 2021 and is projected to reach US$ 49,874.8 million by 2028; it is expected to register a CAGR of 5.4% from 2021 to 2028. The report highlights key factors driving the market growth and prominent players, along with their developments in the market.
The feed mixtures that provide complete animal nutrition contain animal feed additives. Additionally, feed additives are dietary and medical supplements that are included in animal feed to prevent health problems. Health difficulties could include, among other things, dietary inadequacies, trouble with reproduction, or metabolic abnormalities. By reducing the possibility of infection, feed additives improve the overall quality of animal-derived products.
Animal feed has become an increasingly important part of the integrated food chain because livestock is a key contributor to the world's food supply. Global meat production has nearly doubled over the previous 50 years. The International Assessment of Agricultural Knowledge, Science and Technology for Development (IAASTD) reports that this trend is anticipated to continue because of the fast expanding middle class in metropolitan areas. People in developing nations prefer non-vegetarian meals since they are looking for more protein-rich foods.
Additionally, there is an increase in the production of milk and milk-based food items, as well as an increase in the demand for milk from a growing population worldwide. Numerous laws governing organic products require that meat and milk components come from animals fed organic feed, which has raised demand for animal feed, particularly in the organic market.
Additionally, it is now understood that overusing grasslands as animal feed is a severe problem. Free grasslands' production capacity cannot be enhanced, hence exploitation reduces the land's natural biodiversity. As a result, there is a growing need for animal feed. To improve the quality and performance of feed, animal feed is typically fortified or augmented with feed additives. A variety of uses for additives include improved feed absorption. In specifically prepared meals where quick consumption is primarily desired, the use of feed additives is very crucial. Some additives, such as vitamins and amino acids & their metabolites, are crucial metabolic activity regulators in animals for growth, maintenance, food uptake, behaviour, immunity, reproduction, larval metamorphosis, and tolerance to environmental stressors.
Cargill, Incorporated; ADM; Evonik Industries AG; Land O'Lakes, Inc.; Nutreco N.V; Alltech; DuPont de Nemours, Inc.; DSM; Novozymes; and Kemin Industries Inc. are a few of the prominent significant players functioning in the worldwide animal feed additives market. In order to broaden their geographic reach and consumer base globally, the key players in the animal feed additives market are concentrating on strategies like research & development and new product development.
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