Animal feed additives are widely used in animal feed for multiple benefits including achieving nutritional balance and boosting animal health. Multiplicity in the application that includes nutritional value, preservation of feed, imparting texture, and flavor to feed have surfaced as the primary drivers of market growth.
Demand for High Quality Meat Drives Market Growth
The drastic rise in the energy requirements, driving the consumption of meat has increased the demand for different processed products such as poultry, and dairy products. Such developments are projected to positively influence the expansion of animal feed additives market. These additives play a vital role in enhancing the nutritional value of meat and meat products to satiate the burgeoning demand for healthy and nutritious meat and animal feed. Some key animal feed additives include antibiotics, Antioxidants, feed enzymes, amino acids, and binders. The fluctuating climate and availability of low-quality feed products are known to cause many livestock diseases over the past few years, accelerating the demand for high-quality animal feed additives. The growing concern regarding the safety and quality of meat products is pushing ahead the boundaries of growth of the animal feed additives market.
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Major antioxidants used as additives include BHT, BHA, and Ethoxyquin. Different prominent amino acids found in these animal feed additives are lysine, methionine, threonine, and tryptophan. The significant feed enzymes sought after in animal feed additives include protease, xylanase, phytase, and non-starch polysaccharides. Both, water-soluble and fat-soluble feed enzymes are expected to generate significant revenue during the forecast period. Different highly demand feed acidifiers are butyric acid, formic acid, fumaric acid, and acetic acid. Guar (arabic) gum and calcium lignosulphate are the two leading binders in the animal feed additives market. Major minerals used as animal feed additives include manganese sources, zinc sources, copper sources, and iron sources. based on the form, the global market can be segmented into dry, granulate, and liquid forms. The global market can be further segregated based on livestock into swine, poultry, ruminants, and aquatic animals.
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The development of the regional market is primarily driven by the demand for meat and meat products. Both the developed and developing economies are expected to expand the animal feed additives market size with a high production rate of livestock and meat. This directly influences the demand for feed which accelerates the consumption of animal feed additives. Owing to the rise in high-quality meat products, the Asia Pacific market is projected to lead the global market during the forecast period with high growth rate.
The prominent market players are investing in research & development to introduce new animal feed additive products in the market. They are focused to develop sustainable feed additives to cater to the market for a longer time in an efficient way. Innovation is driving the competition in the market. Established players profiled in the global market include BASF SE., Danisco Animal Nutrition, Beneo GmbH, Kemin Industries Inc., Archer Daniels Midland Co., Phibro Animal Health Corp., andbAdisseo SAS.