Animal Feed Additives Market to Surge at 4.64% CAGR, which is anticipated to reach USD 28.3 billion by 2030

CRI Report has released a report titled “Animal Feed Additives Market–Global Analysis of Market Size, Share & Trends for 2019 – 2020 and Forecasts to 2030” which is anticipated to reach USD 28.3 billion by 2030. According to a study by CRI Report, the market is anticipated to portray a CAGR of 4.64% between 2020 and 2030. According to the report, Animal Feed Additives Market is anticipated to witness lucrative growth opportunities in the coming years. The animal feed market growth is anticipated to be double due to an increase in the higher demand for meat-based products by 2030. Improved consumer demand and excess consumption in livestock-based products have increased the animal feed additives market growth. Excessive consumption of feed additives in both developing and non-developing countries has acquired the Global animal feed additives market growth.

The market report on Animal Feed Additives Market includes in-depth insights as:

• The estimated value of the market was USD 21.2 billion in the year 2020.
• Animal Feed Additives in North America held the largest market share in the year 2020.
• Based on Product Type, Antibiotics & Amino Acids emerged as a key segment in the Animal Feed Additives market.
• Based on Livestock, Poultry emerged as a key segment in the Animal Feed Additives market.
• Key players are likely to focus on product innovations and expansion through mergers to retain their positions in developed markets.

“The Global Animal Feed Additives market has observed prominent growth at a large pace. The increasing demand for livestock-based products such as meat & dairy products, eggs, are projected to rapidly boost the animal feed additives market growth and development. Poultry meat is the major driver for the manufacturing growth of the market, globally, owing to its high demand, high population, lower cost of production. In addition, high consumption of animal feed by gym trainers as considering it the best source of protein is a prime factor driving meat production globally. According to FAO data, poultry meat production has attained 120.5 billion tons, while swine meat witnessed 118.7 billion tons, bovine meat recorded 70.8 billion tons, and ovine meat recorded 14.9 billion tons. Increasing trend towards animal feed sourced proteins in the form of eggs, milk, meat or cottage cheese has projected to increase the market growth”,

Animal feed additives are food enhancements for farm animals to improve feed quality. Antibiotics, Amino Acids, Proteins, Acidifiers, Feed Enzymes, and Antioxidants that enhance the food quality of the product are some of the common feed additives that enhance the digestibility of fibers in the body. Feed additives indulge in many health benefits such as improving metabolism, reduce joint pain, reduce fecal odor, manipulate micro-flora, and many other benefits. These feed products are approved by various food & feed safety agencies including FDA, FFDCA and European Commission. Feed additives improve the digestion, immune system, reproduction, and stress relief in body. These feed additives are usually used in micro-quantities and also require careful handling and mixing.

Global Animal feed additives market is segmented by livestock into Swine, Poultry, Aquatic, and others. Poultry segment is projected to lead the market between 2021 and 2030. In the global meat industry, poultry comes out be the second-largest meat-producing segment. The global consumption of poultry segment has triggered the overall Animal feed additives market growth. Mounting sales in the poultry meat segment has further expected to promote the Animal feed additives market.

Key Players in the Market

• Some of the key players operating in the Animal Feed Additives Market are Cargill, New Hope Group Co. Ltd., Perdue Farms Inc., Evonik Industries, Guangdong Haid Group Co. Ltd.Nutreco NV, Archer Daniels Midland Co., Land O’Lakes Inc., Chareon Pokphand Foods Plc, For Farmers NV Other Prominent Players.

Get Valuable Insights into Animal Feed Additives Market

In the new report, CRI Report thrives to present an unbiased analysis of the Animal Feed Additives Market that covers the historical demand data as well as the forecast figures for the period, i.e., 2021-2030. The study includes compelling insights into growth that is witnessed in the market. Animal Feed Additives Market is segmented by Product Type into Antibiotics, Vitamins, Amino Acids, Acidifiers, Feed Enzymes, Antioxidants; By Livestock into Swine, Poultry, Aquatic; and Others. Geographically, the market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East, and Africa.