The global animal feed and feed additives market is progressing at a CAGR of4.1% from 2018 to 2026, according to a research report released by leadingmarket intelligence provider, Transparency Market Research. This market wasvalued at US$17.5 bn in 2018 and is expected to reach US$24.1 bn by the end of2026. The above data feature in a new TMR research report, titled “AnimalFeed and Feed Additives Market - Global Industry Size, Market Share, Trends,Analysis, and Forecast 2018 - 2026.” The report takes into consideration thevarious drivers, restraints, and growth opportunities for players as well asinvestors.
Soaring Meat Consumption to Hold Direct Impact onDemand for Animal Feed and Feed Additives
The growing scope of animal husbandry has allowed a greater range ofproducts and players to enter the global animal feed and feed additives marketover the recent past. Feed additives provide the different nutritional andprotective functions necessary to maintain the healthy growth of the animalwhile warding off risks of diseases and infections. Other functions of animalfeed include enhancing weigh gain, improve digestion, and act as a nutritivesupplement for any vitamin deficiencies. Feed additives have slowly but surelybecome an inseparable part of the animal diet on the farms and dairies.
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The greatest driver of the global animal feed and feed additives market,as experienced over the past few years, is the rapidly increasing rate of meatconsumption. With the higher demand for raising animals, the global animal feedand feed additives market takes a significant push towards more profitableavenues.
Animal Feed and Feed Additives Market in DevelopingEconomies to See Notable Growth
The rate of meat consumption has especially increased in the emergingeconomies of India, Brazil, and China. These three nations accounted for nearly23% of the total meat consumption in 2018. By 2026, their collective share isexpected to reach 39%. This is a major increase in proportion, which is leadingmany players from the global animal feed and feed additives market to focus onthese nations and similar others.
North America was leading the global animal feed and feed additivesmarket’s segment of amino acids in 2018. This region held a share of 29.9% inthe amino acids segment in that year. Within the Asia Pacific region, Chinaheld 49.5% of amino acid animal feed additives in the same year, followed byJapan.
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Asia Pacific is expected to lead the global animal feed and feedadditives market in terms of growth rate as well as market share by 2026,suggest the authors of the report. In terms of market share, Asia Pacificaccounted for 32.4% of the global animal feed and feed additives market in2018, a share percentage that was closely followed by Europe. Europe is thesecond fastest growing region in the global animal feed and feed additivesmarket.
For the given forecast period, the Asia Pacific animal feed and feedadditives market is expected to progress at a 4.0% CAGR within the given forecastperiod.
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The key players in the global animal feed and feed additives market, asdescribed in the report, include DSM, Novozymes, Kemin Industries, EvonikIndustries AG, Danisco A/S, Chr. Hansen, BASF SE, and Addcon Group GmbH. Mostof these global players hold a high rate of trust among their diverse clientgroups and are highly preferred, especially in developed economies.
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