A key factor driving the growth of the global animal feed additives market size is the rising disease outbreaks in livestock. Disease outbreaks affect animal health and lead to the loss of livestock, which poses a major challenge to global meat consumption and production. Some of the livestock and poultry diseases that have had global consequences include foot-and-mouth disease, rinderpest, contagious bovine pleuropneumonia, rift valley fever, swine vesicular disease, avian influenza, and others. As a result, the demand for animal feed additives such as vitamins, antioxidants, enzymes, and probiotics is increasing significantly. The use of food additives prevents disease outbreaks in livestock and improves overall feed absorption and assimilation. Hence, rising disease outbreaks in livestock will increase the sale of animal feed additives during the forecast period.
As per Technavio, the increasing demand for natural feed additives will have a positive impact on the market and contribute to its growth significantly over the forecast period. This global animal feed additives market 2019-2023 research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Global Animal feed additives market: Increasing demand for natural feed additives
Poultry feed generally contains antimicrobial compounds that help to promote growth and control diseases. However, the EU banned feed-grade antibiotic growth promoters due to their cross-resistance and the risk they pose to food safety and public health. As a result, animal feed producers are increasingly focusing on natural feed additives instead of antibiotics. The natural growth enhancers include botanical additives such as suitable blends of herbs or plant extracts, which are used as feed additives. Hence, the animal feed additives market is expected to witness a high demand for natural feed additives during the forecast period.
“Apart from the increasing demand for natural feed additives, other factors such as the growing number of strategic partnerships and acquisitions, and new product launches will have a significant impact on the growth of the animal feed additives market worth during the forecast period,” says a senior analyst at Technavio.
Global Animal feed additives market: Segmentation analysis
This market research report segments the global animal feed additives market by livestock (poultry, ruminants, swine, aquaculture, and others) and geographic regions (APAC, Europe, North America, South America, and MEA).
The APAC region led the animal feed additives market in 2018, followed by North America, Europe, South America, and MEA respectively. The animal feed additives market growth in APAC can be attributed to the growing demand for poultry and other meat products. China, India, Japan, and Australia are some of the key global markets for animal feed additives in the region.
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