LONDON--(BUSINESS WIRE)--Technavio’s global feed additives market research report projects the market to grow at a CAGR of over 5% during the forecast period.
The increasing frequency of new product launches will be one of the major trends in the global feed additives market during 2019-2023. During the forecast period, the increasing new product launches by regional and international players are expected to drive the growth of the feed additives market. For instance, in February 2018, Archer Daniels Midland launched a fiber-degrading enzyme, a specialty feed ingredient, that is added to poultry and swine diets.
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According to Technavio analysts, one of the key drivers for the global feed additives market is the growing demand for animal feed:
Global feed additives market: Growing demand for animal feed
The considerable growth of the global animal feed market can be attributed to factors such as rising global population, increasing meat consumption worldwide, and continuing industrialization of the feed industry. Feed additives enhance the efficiency and performance of animal feeds and hence, the growing animal feed market is expected to directly impact the global feeds additive market.
According to a senior analyst at Technavio for research on additives, adhesives, and sealants, “Feed additives are added to livestock and poultry feed for improving the quality of meat, enhancing muscle volume, and ensuring an optimal proportion of nutrients and disease control. The inclusion of linseed in swine feeds results in the formation of omega-3 fatty acids in pork that help cure arthritis and asthma.”
Global feed additives market: Segmentation analysis
This global feed additives market analysis report provides market segmentation by type (amino acids, antibiotics, probiotics, vitamins, acidifiers, enzymes, and others), by end-user (stainless steel, carbon, and other alloy steels, and others), and by region (the Americas, APAC, and EMEA). This report provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major segments by type, the amino acids segment held the largest feed additives market share in 2018, contributing to more than 25% of the market. This segment will dominate the global market throughout the forecast period.
The APAC region held the largest share of the market in 2018, accounting for around 40% share. It was followed by the Americas and EMEA respectively. The APAC region is expected to dominate the market throughout the period 2019-2023.
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Some of the key topics covered in the report include:
Market Landscape
- Market ecosystem
- Market characteristics
- Market segmentation analysis
Market Sizing
- Market definition
- Market size and forecast
Five Forces Analysis
Market Segmentation
Geographical Segmentation
- Regional comparison
- Key leading countries
Market Drivers
Market Challenges
Market Trends
Vendor Landscape
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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