Animal Feed Additives Market 2020 | How The Industry Will Witness Substantial Growth In The Upcoming Years
The Global Animal Feed Additives Market was valued at USD 37.8 billion in 2019, and is expected to grow at CAGR of 3.2% over the forecast period 2020-2026. This is a latest report, covering the current COVID-19 impact on the market. This market report is a detailed study on the growth, investment opportunities, market statistics, growing competition analysis, major key players, industry facts, important figures, sales, prices, revenues, gross margins, market shares, business strategies, top regions, demand, and developments.
Growing demand and rise in consumption for livestock products such as dairy-based products is likely to enhance the market growth in the following years. Moreover, demand for poultry products is certainly expected to drive the market growth. The factors driving the market growth include increase in demand for processed meat, rising meat consumption as a key protein source, growing fishing industry and surging demand for seafood. The concept of essential food nutrients and its impact on animal health is gaining a high momentum through awareness.
Global Animal Feed Additives Market Analysis by Key Players:
Addcon Group
Archer Daniels Midland Company
Nutreco N.V.
Evonik Industries AG
Kemin Industries Inc.
Koninklijke DSM N.V.
Phibro Animal Health Corporation
Animal Feed Additives Market Segment Insights:
Amino Acids to gain a strong response in the recent years.
Based on type, the market can be segmented as amino acids, feed enzymes, vitamins, carotenoids, binders and minerals. Amino acids held the largest share in the recent years attributing to demand for essential nutrients and increasing popularity. Innovation in methods of production is adding value to end-product, which in turn impels the growth of segment throughout the forecast span.
Poultry is a predominant segment for animal feed additives market
Based on livestock, animal feed additives market can be segmented as aquatic animals, swine, ruminants, and poultry. Poultry is the highest scoring segment attributing to easy availability and increase in demand all over. Rise in meat consumption is another aspect for its dominance.
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