The Global Animal Feed Additives Market Is Expected To Grow At A CAGR Of Over 5% During The Forecast Period 2020−2024

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Shibuya Data Count

Feb 04, 2021, 05:03 EST

Shibuya-ku, Tokyo, Japan, Japan, Feb 04, 2021, 05:03 /Comserve / -- Key Vendors: ADM, Alltech, BASF Group, Cargill, DSM, DuPont, Nutreco

The global animal feed additives market is expected to grow at a CAGR of over 5% during the period 2020−2024. 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.

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Key Vendors

• Alltech
• BASF Group
• Cargill
• DuPont
• Nutreco

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.

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.

Request to Fill The Form To get Sample Copy of This Report:

"The Final Report will cover the impact analysis of COVID-19 on this industry (Global And Regional Market)."

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.

Table of Content

1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.1.1 Inclusions
4.1.2 Exclusions
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

The study considers the present scenario of the animal feed additives market and its market dynamics for the period 2018−2024. It covers a detailed overview of several market growth enablers, restraints, and trends. The market study includes insights on segmentation by products (amino acids, antibiotics, eubiotics,enzymes, vitamins,minerals and others), species(Poultry, Cattle, Swine, Aquaculture, and Others (equine, and pet animals)), form type(liquid and dry), and geography (North America, Europe, APAC, MEA, and Latin America). 

Key Market Insights

The report provides the following insights into the market for the forecast period 2019–2024.
• Offers market sizing and growth prospects of the market for the forecast period 2019–2024.
• Provides comprehensive insights on the latest industry trends, market forecast, and growth drivers in the market.
• Includes a detailed analysis of market growth drivers, challenges, and investment opportunities.
• Delivers a complete overview of market segments and the regional outlook of the market.
• Offers an exhaustive summary of the vendor landscape, competitive analysis, and key market strategies to gain a competitive advantage in the market.

The dynamic nature of business environment in the current global economy is raising the need amongst business professionals to update themselves with current situations in the market. To cater such needs, Shibuya Data Count provides market research reports to various business professionals across different industry verticals, such as healthcare & pharmaceutical, IT & telecom, chemicals and advanced materials, consumer goods & food, energy & power, manufacturing & construction, industrial automation & equipment and agriculture & allied activities amongst others.

For more information, please contact:

Lauren Brown

Shibuya Data Count
Tel: + 81 3 45720790

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