Feed additives are an important part of animal nutrition that helps in enhancing the yield and quality of animal products. These extracts are widely utilized as feed additives and include distinct bio-active ingredients like tannins, saponins, mucilage, glycoside, flavonoids, bitters, and alkaloids.
The growing meat consumption along with the recent outbreak of animal diseases is likely to pose huge demand for feed additives in the aqua, poultry, and other animal-based products, which in turn is likely to steer the growth of the global animal feed additives market significantly in the forthcoming years. Additives are complex components that enhance the health and performance of animals. Therefore, these products are widely influencing human food products. Also, the consumption of food with suitable quantities of additives exerts good effects on livestock like they aid in reproduction and digestion.
The global industrialization of meat products is a vital factor responsible for the exponential growth of the global animal feed additives market. Antimicrobial compounds are the compounds included in poultry diets for controlling diseases and promoting growth. The new generation of growth enhancers includes appropriate blends of plant extracts known as plant and herb additives.
The global animal feed additives market can be segmented into source, form, livestock, type, and region.
By source, the market can be segmented into natural and synthetic. The synthetic segment accounts for the largest share in the global market.
By form, the market can be segmented into liquid and dry. The dry segment is expected to project huge growth in the forthcoming years due to its high demand.
By livestock, the market can be segmented into aquatic, swine, poultry, ruminants, and other livestock. The poultry segment holds hegemony over others due to the surging concern regarding animal health.
By type, the market can be segmented into probiotics, preservatives, phytogenics, non-protein nitrogen, antioxidants, minerals, antibiotics, flavors, mycotoxin, detoxifies, enzymes, cottonoids, acidifiers, vitamins, phosphates, amino acids, and others.
The preservatives segment dominates the global market owing to the growing demand due to the surging emphasis of feed manufacturers on enhancing the shelf life of the feeds.
Asia Pacific accounts for the largest share in the global animal feed additives market due to the presence of a strong customer base in the region. Also, the presence of a large number of feed mills especially in growing economies like Japan and India is likely to further accentuate the growth of the regional market in the forthcoming years.
North America is expected to be the fastest-growing region in the global market due to the presence of prominent market leaders in the region. Also, the growing prevalence of animal diseases in the region is likely to pose huge demand for feed additives in the forthcoming years.
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Some of the significant players in the global animal feed additives market are Phibro Animal Health Corporation, Koninklijke DSM N.V., Kemin Industries Inc., Evonik Industries Ag, Cargill Incorporated, BASF SE, Archer-Daniels-Midland Company, Aliphos Belgium SA, and Addcon Group GMBH. To cite, Kemin Industries in February 2021 introduced an innovative product named KemTRACE Chromium-OR.