DUBLIN--(BUSINESS WIRE)--The "Animal Feed Additives Market - Global Outlook and Forecast 2019-2024" report has been added to ResearchAndMarkets.com's offering.
The Global Animal Feed Additives Market is expected to grow at a CAGR of more than 5% during the period 2018-2024.
Reduction in the use of antibiotics, increased demand for phosphates in animal feed, growing trend of premium breeding and organic production are the factors that are likely to contribute to the growth of the animal feed additives market during the forecast period.
The need to increase livestock productivity is one of the major reasons driving the market. Also, the growing awareness of animal well-being, sustainable farming, and proper animal nutrition is increasing the market growth. Poultry is the largest segment with APAC accounting for the largest market share for the segment.
However, the aquaculture segment is expected to grow at the fastest CAGR during the forecast period. The demand for aquaculture feed additives is increasing in the US, Nordic, and South Africa. The demand for sustainable nutrients, the consumption of antibiotic-free products, and the growing awareness of organic animal farming practices are other major catalysts for the changing animal feed industry.
Animal Feed Additives Market: Segmentation
The market research report includes detailed market segmentation by product, species, form, and geography. While the amino acids segment accounts for the largest share of the market, the eubiotic segment is expected to grow at the highest CAGR during the period 2018-2024. Amino acids are one of the key nutrients used for the healthy well-being of livestock. Hence, the rise in environmentally sustainable is an important factor for segment growth. The APAC market is expected to post an absolute growth of 34% by 2024. The need to improve the livestock quality is expected to be a major driver for the vitamins segment during the forecast period.
Poultry is the largest segment in the animal feed additives market. The growing demand for high protein diets and the increasing population growth are augmenting well for the poultry segment. The market will be driven majorly by the US, China, Brazil, however, emerging economies are likely to be the fastest adopter of poultry supplements during the forecast period. Factors such as increased awareness of organic nutrients and the high demand for poultry products are likely to boost the market growth. APAC is the largest market for swine feed and accounted for a market share of approx. 35% in 2018. China, Japan, South Korea, the Philippines, and Vietnam are key markets driving the demand for swine supplements in the region due to high swine meat production.
Liquid form supplements are the largest segment in the global market. The demand is growing due to easy handling and mixing with supplements. They are excellent carriers and are nutrient-rich. Convenience and cost-effectiveness of liquid form nutrients are major factors boosting the growth of the market segment. While China, India, Indonesia, and Japan are the major markets for liquid form, the US is expected to boost the demand for liquid nutrients during the forecast period.
The increased demand for dry additives among livestock farmers is driving the segment. As dry nutrients are spill-proof and can be handled and stored easily, the demand is growing. The presence of a large livestock population is a key driving for the high demand for dry form nutrients in the APAC region. Further, the growing awareness of animal farming camps also will be fueling demand for dry products.
Market Segmentation by Product
- Amino Acids
Market Segmentation by Species
Market Segmentation by Form
Animal Feed Additives Market: Geography
APAC is the largest animal feed additives market globally. A large livestock population in the region is driving the demand in the region. Further, the increased awareness of advanced animal farming techniques is fueling the demand in the region. Europe constitutes the second-largest market share globally. The growing demand for protein-rich food in the region is boosting the market. Further, the demand for high-quality nutrients is increasing in the Europe market as livestock production is growing at a significant rate.
North America is one of the major exporters and consumers of meat. The US accounted for more than 80% of the North America animal feed additives market in 2018. The growing demand for high-quality meat, sustainable animal farming, and increased export will drive the demand in the North America market. Brazil, Mexico, Argentina are the key contributors to the market. High meat production, growing exports, and increasing nutrient costs are contributing to the market growth in the region.
Key Vendors Analysis
The global animal feed additives market is consolidating and competitive as vendors are competing in terms of quality, innovation, and pricing. Thus, consumer choices and preferences differ from region to region and keep changing over time in response to geographical, demographic, and social trends, economic circumstances, and marketing efforts of competitors. Due to the highly competitive and volatile environment, the future market growth mainly depends on the ability to anticipate, gauge, and adapt to the constantly changing market trends and successfully introduce new or improved products in a timely manner.
The market concentration is likely to grow, and global players operating in the market are expected to grow via non-organic strategies. New companies may lose market share because of the introduction of technologically advanced and innovative products from vendors with high promotional expenditure. Vendors also need to remain abreast with the upcoming products to have a competitive advantage over other vendors. An increase in competition and business expansion could lead to vendors increasing their promotional and advertising expenses as well as research and development costs, which may place pressure on their margins and affect their profitability.
Key Topics Covered
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope of the study
4.4 Market Segments
4.4.1 Market Segmentation by Products
4.4.2 Market Segmentation by Species
4.4.3 Market Segmentation by Form Type
4.4.4 Market Segmentation by Geography
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7.2 Global Population vs. Food Demand vs. Feed additives
8 Market Dynamics
8.1 Market Enablers
8.1.1 Growing Concern for Animal Nutrition & Environmental Impact
8.1.2 Increased Focus on Dietary Needs of Animals
8.1.3 Increased Demand for Phosphates in Animal Feeds
8.2 Market Growth Restraints
8.2.1 Threat to Supply Chain from Disease Outbreaks
8.2.2 Clash Between Feed Additives & Premix Markets
8.2.3 Growing Demand for Plant Proteins
8.3 Market Opportunities & Trends
8.3.1 Phytobiotics Gaining Momentum in Feed Additive Market
8.3.2 Reduction in Use of Antibiotics
8.3.3 Probiotics are Future of Animal Feed Additives
8.3.4 Growing Trend of Premium Breeding & Organic Production
9 Global Animal Feed Additives Market
9.1 Market Size & Forecast
9.2 Five Forces Analysis
9.2.1 Threat of New Entrants
9.2.2 Bargaining Power of Suppliers
9.2.3 Bargaining Power of Buyers
9.2.4 Threat of Substitutes
9.2.5 Competitive Rivalry
10 By Animal Type
10.1 Market Snapshot & Growth Engine
10.2 Market Overview
10.7 Other Species
11 By Form Type
11.1 Market Snapshot & Growth Engine
11.2 Market Overview
11.3 Liquid Feed Additives
11.4 Dry Feed Additives
12 By Product Type
12.1 Market Snapshot & Growth Engine
12.2 Market Overview
12.3 Amino Acids
12.9 Other Feed Additives
13 By Geography
13.1 Market Snapshot & Growth Engine
16 North America
17 Latin America
18 Middle-East & Africa
19 Competitive Landscape
19.1 Competition Overview
20 Key Company Profiles
20.4 BASF group
21 Other Prominent Vendors
21.7 Boehringer Ingelheim
21.8 Chr. Hansen
21.12 AB Vista
21.13 Advanced Enzymes
21.14 Land O' Lakes
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