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Research Reports

Sales of Animal Feed Additives to Cross US$ 18 Bn by 2029; Antioxidants and Amino Acids to See a Demand Upsurge: Future Market Insights

Published by linker 5

Posted on February 26, 2021

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eed additives are the paramount nutritional source for animals, aiding in proper digestion and subsequent conversion which is necessary for overall animal health. Future Market Insights (FMI) projects the global animal feed additives market to rise gradually at approximately 2.2% CAGR over the forecast period (2019-2029).

“The health and welfare of animals has gained significance in recent years. This has given rise to numerous trends such as commercial livestock farming and the introduction of new products in animal feed additives market. On that premise, the market is projected to surpass US$ 18 Bn by 2029 end,” concludes FMI in a new study.

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Key Takeaways of Animal Feed Additives Market Study

Poultry will constitute a major revenue share in the global animal feed additives market through 2029.
Adoption in e cattle segment will exhibit a noteworthy CAGR during the forecast period.
Amino acids continue to be preferred by consumers among other additive types.
Antioxidants will witness a surge in demand in foreseeable future.
North America accounts for substantial demand in view of higher meat consumption.

Animal Feed Additives Market – Key Growth Factors

Heightening demand for animal feed additives which are environmentally friendly is contributing significantly to overall revenue.
Greater emphasis on health and fertility of animals is bolstering market growth.
Rising expenditure by niche players is accelerating the production of animal feed.
Growing prevalence of antibiotics is propelling the growth of animal feed additives market.

Animal Feed Additives Market – Key Restraints

Economic and political situations in Asia Pacific are constraining the growth of animal feed additives market.
Certain apprehensions regarding zootechnical additives is a major factor limiting market growth.

Explore the full animal feed additives market report with 112 illustrative figures, 128 data tables and table of contents. Request ToC of the study https://www.futuremarketinsights.com/askus/rep-gb-418

Competitive Landscape

Some of the key stakeholders profiled in this FMI study include, but are not limited to, Zoetis Inc., Cargill, Inc., Nutreco N.V., Novozymes A/S and Phibro, BASF SE, Koninklijke DSM N.V., and Evonik Industries Ag. Major players in the global animal feed additives market must cater to rising population in Asia Pacific. They must develop healthy alternatives such as organic feed additives which is experiencing exponential demand. Enhancing the nutritional content of animal feed additives should be the key focus area of niche players.