Feed additives basically aim at satisfying an animal's diet needs. They are just an alternative to the multiple maintenance, production and activity performances done to enhance an animal's body metabolism. It majorly consists of roughage that covers up for all the diet deficiency caused due to poor quality food that animals are often provided with. The feed additives often come in the form of additives or food supplements.
The Feed Additives Market was estimated to stand at a global market value of USD 19,642 million in 2021. With potential driving factors contributing toward the growth and development of the market, it is again estimated to stand at USD 49.4 billion by the end of 2030. The forecast period of the market is from 2022 to 2030, which is predicted to show healthy and substantial growth. The market stands at a global market rate of 7.2% of CAGR. The market is facing significant growth in the global market dynamics due to the demand for additives for field animals. They have been constantly diagnosed with flu and infections. This has put a lot of feeders in distress and pushed them towards availing the animals of vitamins and minerals that will increase their productivity.
This has led several approaching firms to invest a huge amount towards research and development activities that will give rise to effective additives. However, the global pandemic brought about several changes in the growth graph of the Feed Additives Market. This imbalanced the market level and led to an increase in the prices of raw materials. Major components of the feed were extracted from vitamins and antioxidants. With impositions around the globe, the prices of extractions increased with the prices of raw materials. Factors like such have majorly restricted the growth and development of the market. This led to retailers and manufacturers facing critical issues.
Despite all the factors driving and restraining the market growth, the Feed Additives Market is predicted to have healthy and substantial growth in its forecast period.
The Feed Additives Market is majorly segmented into type, form and livestock based upon various features.
By type, the market is segmented into amino acids, arytenoids, vitamins and enzymes, along with minerals, lipids and acidifiers. The market is again divided into ruminants, poultry and swine, depending upon the livestock. The additives are also available in both dry and liquid forms as far as the form is concerned.
The Feed Additives Market is spread across areas of Spain, France, Russia and Germany in Europe. The geographical dominance of the area also includes China, Japan, India and Indonesia, along with the Rest of Asia-Pacific. Parts of the Middle East and Latin America are also included.
Some of the main key feed additives market players are Centafarm SRL (Italy), Global Nutrition International (France), BASF (Germany), Petal Feed Additives B.V. (Netherlands), NUQO Feed Additives (France) and Dupont (U.S.). The Feed Additives Market also underwent some major developments that include:
- In 2022: One of the market firms, BASF, collaborated with a German plant to expand its production capacity. This has led to a significant increase in its annual production.
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