Animal Feed Additives Market size to exceed USD 22 Billion by 2022: Global Market Insights, Inc.
Animal Feed Additives Market Size is likely to be worth USD 22.06 Billion by 2022; as per a new research report by Global Market Insights, Inc. Increase in meat consumption as protein source of livestock such as cattle, poultry and swine should drive animal feed additive industry. Factors such as metabolism activity, weight gains and fatigue delay are likely to favor livestock producers to adopt animal feed additives in the diet.
Browse In-depth Research Report on Global Animal Feed Additives Market with detailed charts and figures: https://www.gminsights.com/industry-analysis/animal-feed-additives-market
Amino acids market size dominated demand by accounting over 33% of the revenue share and valuation close to USD 5.5 Billion in 2014. Thrionine, methionine, tryptophan and lysine are predominantly used amino acids for poultry and swine applications.
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Antibiotics market accounted for 25.7% of the revenue share in 2014 and are forecast to grow at sluggish rates owing to stringent regulations by EU and FDA. EU has completely banned antibiotics use from 2006 and the U.S. FDA is also set to ban certain products of this category effective from January 1st, 2017.
Restrictions over antibiotics usage as growth promoters for livestock production by regulatory authorities are likely to hamper demand. Immunity development towards certain diseases by animals is a matter of concern by consumers, which is likely to restrict antibiotics usage. Introduction of products like feed phytogenics as NGPs is likely to drive industry growth.
Increase in meat consumption owing to growth in per-capita middle class disposable income in countries such as China, India and Brazil is anticipated to drive demand. Meat product standardization resulting out of certain disease outbreak in the recent past like SARS, is also presumed to drive market growth.
Key insights from the report include:
- Global animal feed additives market size generated revenues worth USD 16.11 Billion and is forecast to grow at 4.0% CAGR up to 2022 and register USD 22.06 Billion.
- Poultry feed additives market applications accounted for 36.6% of total revenue share in 2014. Outbreak of diseases such as bird flu or avian influenza has increased awareness in poultry health sector, with stringent regulations governing meat quality for consumption.
- Aquaculture feed additives market application occupied a minor chunk of the global revenue share and is likely to grow significantly, at 4.2% CAGR up to 2022.
- Asia Pacific predominantly driven by China & India animal feed additives market size was the largest regional industry. China registered revenue close to USD 3.2 Billion in 2014 and also is likely to attain highest gains up to 2022.
- Feed acidifiers in the U.S. animal feed additives market size were valued close to USD 340 million and are likely to grow at rapid pace up to 2022.
Global animal feed additives market share is moderately consolidated in 2014 with top four industry participants serving to over 70% of the demand. Major industry players include Danisco, Evonik, DSM and BASF. Other manufacturers include Bioamin, Kemin, Adisseo, Nutreco and Cargill.