AnimalFeed Additives Market: Introduction
Thelatest market report published by Transparency Market Research on the animal feed additives market includes global industry analysisand opportunity assessment for 2019-2029. Revenuegenerated from the global animal feed additives market was estimated to bevalued at ~US$ 15 Mn in 2019, which isprojected to rise at a CAGR of ~2%,to reach ~US$ 18 Bn by 2029.
Theprime focus of animal nutrition industry is efficiency, while the world ismoving toward safe food production and sustainability. Animal nutritionmanufacturers are aiming to develop feed industry solutions, which promotehighest level of biosecurity and feed safety management, while decreasing theenvironmental impacts of livestock and feed production. Production of gut-friendlyingredients and additives in animal feed is gaining prominence amongmanufacturers.
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RisingConsumer Demand for High Quality Food Products Creates Space for Animal FeedAdditives
Thedemand for animal feed additives has been increasing consistently, a feat thatcan be accredited to the escalating consumption of poultry and meat foodproducts worldwide. Animal feed additives play a vital role in safeguarding thehealth and quality of source livestock. Improving animal feed with variousnutrients can help to improve weight gain and digestion in animals, in additionto preventing the occurrence of diseases. Animal-based food, including fish,beef, pork, and eggs are part of everyday meal of consumers in several regionsacross the world. Thus, it has become extremely crucial for manufacturers toguarantee the wellbeing of their animals and livestock, exhibiting aconsiderable demand for nutritional feed products. Hence, there is potentialfor increase in adoption of animal feed additives over the years to come.
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IncreasingPrevalence of Food-borne and Zoonotic Diseases to Fuel Demand
Fearof zoonotic and food-borne diseases such as various types of avian flus isexpected to fuel demand for feed additives over the forecast period. TheEuropean Food Safety Authority (EFSA) estimates that 320,000 cases offood-borne and zoonotic diseases occur each year in EU countries. Furthermore, inthe EU, 220,200 people were reportedly infected with campylobacteriosis (azoonotic disease, which is a result of the consumption of infected broilermeat) in 2012.These factors are fueling consumer demand for adequate gut-friendly additivessuch as probiotics, amino acids and phytogenic nutrients, in view of keepinganimals healthy the natural way. Asia Pacific and the Middle East areparticularly expected to exhibit rising demand for additives over the forecastperiod due to frequent viral disease outbreaks in these regions.
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PriceVolatility Might Act as Barrier to Growth
Priceinstability and volatility in supply of raw materials for animal feed additivesare the prime concerns among manufacturers, as both feed and feed additives aresupplied on a contractual basis. These contracts are subject to unsystematicrisks such as climatic fluctuations, interest rate volatility, andgeo-political tensions. These factors may hamper the growth of the animal feedadditives market. However, collaborative production and strategic relationshipbuilding across the width of the value chain could result in substantial costsavings for manufacturers.
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