Animal Feed Additives Market Overview
The global animal feed additives market size was valued at USD 39.6 billion in 2021 and is expected to reach USD 53.7 billion by 2030, registering a CAGR of 3.5% over the forecast period.
This growth is attributable to the surging consumption of meat and animal-based products by consumers, the steadily increasing global population, and growth in the population of livestock.
Gather more insights about the market drivers, restrains and growth of the Global Animal Feed Additives Market
Animal feed additives are an essential component of breeding livestock, as they help in disease prevention in animals, improve the rate of weight gain, feed digestion, vitamin intake & conversion, and in so doing improve the quality of the meat. These are extensively utilized globally as they are vital for maintaining the overall health of the livestock on a commercial as well as non-commercial scale.
The U.S. has a significant meat-consuming population, which is increasing day by day; this is a major factor accountable for the increase in consumption of animal feed additives in the country. The U.S. has stringent rules and standards for the production of meat, which affects the global market directly. The animal feed additives industry is well-established and operated under strict regulations of authorities to maintain global standards. It is complementary to the animal feed and meat market and is significantly affected by changes in them.
Europe is the highest consumer of meat and therefore is a significantly larger consumer of animal feed additives. Similarly, the Asia Pacific region has the highest population growth with rising consumption. The accumulating demand for meat due to an increase in consumption and rise in the purchasing power of people is anticipated to drive the overall market.
Animal Feed Additives Market Segmentation
Based on the Product Insights, the market is segmented into Antibiotics, Vitamins, Antioxidants, Amino Acids, Feed Enzymes, Feed Acidifiers and Others
Based on the Livestock Insights, the market is segmented into Pork/Swine, Poultry, Cattle, Aquaculture, and Others.
Based on the Regional Insights, the market is segmented into North America, Europe, Asia Pacific, Central & South America, and Middle East & Africa
Market Share Insights
Key Companies Profile
The players involved in the market are heavily involved in product enhancements to gain an edge over competitors. Some prominent players in the global animal feed additives market include,
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