Email
Print
With Genetic Advancements Influencing Rapid Change in the Animal Agricultural Industry, Rapid Industrialization of Feed Manufacturing, Tremendous Gains in the Efficient and Economical Production of High Quality and Safe Chicken Meat, Eggs and Poultry Bioproducts, Rising Meat Demand and Rising Per Capita Income Levels in Emerging Markets will Allow the Animal Feed Additives Market to Grow During the Forecast Period of 2023-2028. Feed manufacturers are adopting new forms of natural feed additives that are
the products of modern science. The opportunities to reduce the need for
human-grade feed materials are growing abundantly and newer innovations will
constantly open the possibility to make the feed-production & additives
chain more agile and efficient with the active collaboration of feed additives
safety checkers. Additionally, the demand for natural growth promoters
in the feed will continue to benefit the additives industry in the years ahead allowing it to grow at a CAGR of 2.6% from 2023 to 2028 to garner a
market size equivalent to $26.3 billion in 2028.
Animal Feed Additives Market Drivers
Increase In Demand for Feed Additives in Poultry Industry has been a Key
Market Driver
The
fastest-growing agricultural sub-sector, particularly in emerging nations, is
the poultry industry, which plays a crucial role in food safety and nutrition.
Future expansion of the sector is anticipated to be influenced by variables
like population increase, income level growth and urbanization. As per the
estimates market value for the poultry industry, which was $310.7 billion in
2020, had increased to $322.55 billion in 2021. For instance, Phytogenic Food
Additives have received increased attention in recent years as a natural
alternative to antibiotic growth promoters (AGPs) in poultry production. They
can be included in feeds as dried, solid or ground form or as extracts.
For More Queries About "Animal Feed Additives Market" @ https://www.industryarc.com/support.php?id=226
The Global Animal Feed Additives Market
is Being Driven by an Increase in Global Meat Consumption
The
evolution of the use of feed additives is strongly intertwined with the
industrialization of animal production. The increasing specialization of
production units, combined with economic constraints, has resulted in the
concentration of animals and the improvement of zootechnical performance. Feed
manufacturing has also been industrialized, with various models capable of
incorporating additives into their processes. Traditional farming practices in
developed countries have given way to industrial farming methods that
necessitate more animal feed production. Global meat consumption is expected to
reach 460 million to 570 million tons per year by 2050, with the industry value
exceeding one trillion US dollars by 2025.
Acquisitions and Collaboration
- In July 2021, Danisco Animal Nutrition has expanded the launch of a novel phytase feed enzyme, Axtra PHY GOLD in Malaysia, Thailand and Australian markets. Earlier, in the Asia-Pacific, this product was first launched in India in 2020.
- In April 2021, Elanco and Royal DSM Announced a strategic alliance in the U.S. for Bovaer, which is a revolutionary, methane-reducing feed product for cattle.
The Major Companies in the market include
The
major companies of Animal Feed Additives include Cargill Inc, Royal
D.S.M. N.V, Nutreco N.V, Archer Daniels Midland Company, BASF SE, Evonik Industries AG, Chr. Hansen A/S, Novozymes A/S,
KEMIN INDUSTRIES INC and Nutreco N.V
Leading companies are actively following strategies to eliminate or reduce the carbon footprint while following the other sustainability issues looming the global interest. The advent of online sales has allowed companies to follow an omnichannel approach, which in turn has increased the lead-generation and overall sales.