NEWARK, Del, July 25, 2024 (GLOBE NEWSWIRE) -- According to Future Market Insights (FMI), the animal feed additive market is expected to reach US$ 55,842.2 million in 2024. The market is further projected to reach a valuation of US$ 109,184.5 million, expanding at a CAGR of 6.9% by 2034.
Rising per capita spending on premium food is offering key participants in the animal feed additive market significant opportunities for expansion. Increasing disposable income is set to fuel consumer demand for nutrient-dense foods derived from animals, improving the outlook for the market for animal feed additives.
The growth of the livestock and agricultural sectors is boosting the nation's sales of animal feed additives. Additives for animal feed are essential for protecting the health of both livestock and people who eat goods made from animals.
The European Union (EU) outlawed the use of antibiotics in animal feed. Hence, probiotics and direct-fed microorganisms are gaining traction in the animal feed industry. Probiotics are a useful tool for maintaining the gut health of animals, which enhances general productivity and well-being.
More efficient and effective feed additives are being developed as a result of ongoing research and technology improvements such as nanotechnology and microencapsulation. The market for animal feed additives is impacted by the globalization of the food supply chain, since businesses now operate internationally while adhering to local laws and preferences.
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Key Takeaways from the Report:
- The global animal feed additive market is expected to reach a valuation of US$ 55,842.2 million in 2024.
- The market is expected to surge at a CAGR of 6.9% over the forecast period.
- East Asia is expected to have a market share of 23.8% by 2034, in terms of volume consumed.
- The United States is projected to rise at 5.2% CAGR by 2034.
- Based on country, the United Kingdom is expected to surge at a CAGR of 5.6% by 2034.
"The inclusion of antibiotics as additives in animal feed has been limited or outlawed due to concerns surrounding the development of antibiotic-resistant bacteria and its potential impact on human health. Consequently, this restriction is prompting a transition within the livestock industry toward alternative approaches for promoting animal health and averting diseases says Nandini Roy Choudhury, Client Partner at Future Market Insights
Competitive Landscape
Several manufacturers & distributors, their geographic locations, and the quality of the product all have a significant impact on the level of competition in the worldwide market. Participants and stakeholders are focusing on expanding their manufacturing capabilities in the market. Leading players are working on research and development to provide consumers with effective items, which is expected to boost market expansion.
For instance,
- In 2023, Amlan® International, the animal nutrition and health business of Oil-Dri® Corporation of America, acquired Agromex Importaciones, S.A. de C.V.
- In 2023, Novus International acquired biotech company Agrivida.
Key Companies Profiled
- Cargill Inc.
- Archer Daniels Midland Company
- DSM
- Nutreco (Owned by SHV)
- Alltech Inc
- Adisseo
- BASF SE
- Novus International Inc.
- Kemin Industries Inc.
- Evonik Industries AG
- International Flavors & Fragrances Inc.
- Ajinomoto Animal Nutrition North America
- Phibro Animal Health Corporation
- Danish Agro
- Chr.Harsen Holding A/S
- Pestell Nutrition (Barentz)
- Solvay Group
Get More Valuable Insights
Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global animal feed additive market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the animal feed additive market based on additives type (technology additives, sensory additives, nutritional additives), form (powder, granules, liquid), livestock (ruminant, poultry, swine, aquaculture, pets) across regions.
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Animal Feed Additive Market Segmentation by Category
By Additive Type:
- Technological Additives (Preservatives, Emulsifiers, and Others)
- Sensory Additives (Sweeteners, Lutein, and Others)
- Nutritional Additives
By Form:
- Powder
- Granules
- Liquid
By Livestock:
- Ruminant
- Poultry
- Swine
- Aquaculture
- Pets
By Region:
- North America
- Europe
- Latin America
- South Asia
- East Asia
- Oceania
- Middle East and Africa
About the Food & Beverage Division at Future Market Insights (FMI)
Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights (FMI) helps clients from all over the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.
Authored by:
Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives.
She has exceptional analytical skills and often brings thought leadership to the table.
Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.
Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions and post-merger integration and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor’s Degree in Electrical Engineering from Nagpur University, India.
Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.
Explore FMI’s related ongoing Coverage in Food and Beverage Domain:
The global animal feed sweetener market size is estimated to reach USD 9,732.1 million in 2024 and USD 20,784.6 million by 2034.
The global nutritional ingredients in animal feed market is expected to reach a market valuation of USD 93.2 Bn by the year 2022, accelerating with a CAGR of 7.1% by 2022-2032.
The animal feed ingredients market is projected to expand its roots at an average CAGR of 4.0% during the forecast period. The market is likely to hold a revenue of US$ 39.51 billion in 2023 while it is anticipated to cross a value of US$ 60.65 billion by 2033.
The demand for microalgae in the animal feed sector totaled US$ 57.54 Million in 2021, according to latest insights by Future Market Insights (FMI). Exhibiting a CAGR of 3.5% for 2021 to 2031, the market is expected to reach US$ 80.96 Million by 2031.
The animal feed probiotic market is projected to be valued at US$ 3,645 million in 2024 and is expected to rise to US$ 6,798 million by 2034.
The global animal feed alternative protein market is expected to be valued at US$ 3.96 Billion in 2023 and will grow at a CAGR of 7.5%.
The animal feed antioxidants market is estimated to be around USD 323.61 Million in 2023 and is anticipated to grow to USD 1056.48 Million by 2033, with a CAGR of 12.56% from 2023 to 2033.
During the projected period (2023 to 2033), the global animal feed processing equipment market is expected to grow at a CAGR of 4.2%. The animal feed processing equipment market is projected to be valued at US$ 23.1 Billion in 2023.
In the year 2023, the overall value of the global algae-based animal feed market is estimated to stand at US$ 4,467.4 million.
The animal feed preservative market is poised to register at a CAGR of 5.5% through 2034. The market is penned in to increase from US$ 298.6 million in 2024 to US$ 512.2 million by 2034.
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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