Animal Feed Additives Market Expected To Witness A Substantial Growth Of $50.88 Billion By 2027: Grand View Research Inc.

The global animal feed additives market size is expected to reach USD 50.88 billion by 2027, registering a revenue-based CAGR of 3.8% over the forecast period, according to a new report by Grand View Research, Inc. Growing need to enhance the overall feed properties is one of the critical factors driving product demand. Increased consumption of meat and meat products as the primary source of protein and other nutrients is estimated to further drive the demand.

Feed additives are considered to be an essential source of nutrition for animals. They are proven to be beneficial for improving feed quality, digestion, and conversion, thereby improving overall animal health. Different types of additives include amino acids, antioxidants, feed enzymes, vitamins, antibiotics, and feed acidifiers.

Feed enzymes are becoming popular among manufacturers and livestock producers. They increase the nutritive value, reduces cost, and improves the conversion ratio. The dominant type of enzyme products includes Carbohydrase, non-starch polysaccharides, phytase, and protease. The market players are focused on developing cost-effective products. For example, Novozymes, a key market player, in partnership with DSM, launched its enzyme under the brand name BalanciusTM. The enzyme is mainly developed for improving gut health of broiler chickens, which facilitates sustainable production.

Antibiotic is a significant type of animal feed additives consumed worldwide. Its ability to promote growth in livestock was one of the primary factors that have helped in developing its market. However, the excessive use of antibiotics as growth promoters resulted in the local bacterial population becoming resistant to the antibiotics. Traces of antibiotics in meat can also affect human health because of their excess use as growth promoters. Several countries are now imposing a ban on the use of antibiotics in animal feed and feed additive formulations. For instance, the Indian government recently imposed a ban on the use of Colistin, an antibiotic used for fattening the livestock. Thus, the growing implementation of the antibiotic ban by regulatory bodies is projected to hamper the market growth over the forecast period.

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However, regulations restricting the use of antibiotics in animal feed are projected to restrain the growth in the forthcoming years. Europe has introduced rules to limit the usage of antibiotics, which is intended for food-producing animals owing to reduced resistance to bacteria. Such a factor is anticipated to further restrain the growth of the market over the forecast period. Cattle is the primary source of dairy products across the world. A significant rise in cattle farming is likely to drive the demand for animal feed additives over the forecast period. Additionally, increasing consciousness about the benefits of additives and the recent outbreak of various diseases has positively impacted the demand.

Animal Feed Additives Market Report Highlights

• In terms of revenue, Asia Pacific emerged as the fastest growing region and is projected to continue its dominance, with India and China likely to witness a remarkable growth in next seven years
• Poultry emerged as the largest livestock segment in 2020, with a market share of more than 37% in terms of volume
• The animal feed additives market is highly fragmented and competitive in nature with presence of well-established players
• AFB International; Alltech; Kemin Industries Inc.; Evonik; DuPont; DSM; Nutreco N.V.; Archer Daniels Midland; and Cargill are the major players operating in the market

Key companies in the market engage in R&D activities to offer consumers with efficient products, which is expected to fuel the demand for animal feed additives. Also, the market players are focusing on developing and expanding their existing product lines and global presence to strengthen their market presence. For instance, in March 2020, BASF SE launched phytase Natuphos E in Indonesia. It is an enzyme, when added to the feed, improves animal health.

On the basis of product, the animal feed additives market is categorized into amino acids, vitamins, antibiotics, antioxidants, acidifiers, enzymes, and others. Amino acids accounted for 33.6% of the overall market in terms of revenue in 2020. Growing consumer awareness regarding the benefits associated with the use of feed additives to reduce the prevalence of diseases has supported the demand. Amino acids are considered as protein building blocks for livestock health. Amino acids are responsible for enhancing gut health, food intake, reproduction, and metabolic process, among others. Different forms of amino acids include, threonine, tryptophan, lysine, and methionine. Lysine is primarily used in the pork industry, while methionine is predominantly used in the poultry industry.

The market is highly fragmented in nature with the presence of established players, such as Cargill, Incorporated; Alltech; Kemin Industries, Inc.; DSM; and Novozymes. They are vertically integrated through the value chain from sourcing the raw material to developing the finished product. Also, they are involved in continuous R&D activities to develop new products as well as are focused on expanding the product portfolio. This is expected to intensify competition and pose a potential threat to the new market entrants.

Grand View Research has segmented the global animal feed additives market report on the basis of product, livestock:

Animal Feed Additives Product Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Antibiotics
• Vitamins 
• Vitamin A
• Vitamin E
• Vitamin B
• Vitamin C
• Other
• Antioxidants
• Amino Acids 
• Tryptophan
• Lysine
• Methionine
• Threonine
• Others
• Feed Enzymes
• Phytase
• Non-starch Polysaccharides & Others
• Feed Acidifiers
• Others

Animal Feed Additives Livestock Outlook (Volume, Kilotons; Revenue, USD Million, 2016 - 2027)

• Pork/Swine
• Poultry
• Cattle
• Aquaculture
• Others

About Grand View Research

Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.

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