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Animal Feed Additives Market Revenue, Major Players, Consumer Trends, Analysis & Forecast – IndustryARC


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Growing Demand for Meat Led to an Increase in Animal Feed Production, Which Aided Market Growth

HYDERABAD, TELANGANA, INDIA, January 24, 2023 / -- IndustryARC, in its latest report, predicts that The Animal Feed Additives Market size is estimated to reach $26.3 billion by 2028 with a CAGR of 2.6% over the forecast period of 2023-2028. Feed additives such as prebiotics, probiotics, enzymes and antioxidants are products used in animal nutrition to improve the quality of feed and food from animals. It also improves the animals' performance and health by providing enhanced digestibility of feed materials and acting as an add-on for farm animals that receive insufficient nutrients from regular diets. Animal Feed Additives market growth was primarily fueled by factors such as rising demand for meat and dairy products that are high in protein, industrialization of meat production, rising meat consumption, animal disease outbreaks and rising consumer awareness of the safety and quality of meat. According to the National Bureau of Statistics, pork output reached nearly 52.9 million metric tons in 2021, up from the previous year. The output of poultry and beef has also increased to 15.3 million metric tons in 2021 compared to 6.8 million metric tons in 2020.

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Key takeaways:

This IndustryARC report on the Animal Feed Additives Market highlights the following areas -

1. Geographically, Asia-Pacific held a dominant market share in the year 2022. It was owing to the increased demand for meat protein in the region, which triggered an increased uptake of feed additives and feed enzymes. Moreover, Asia-Pacific also witnessed lucrative growth over the forecast period of 2023-2028. It was mainly owing to a growth in the production of Livestock along with a continual expansion strategy in the marketplace for the region.

2. Growing demand for Feed Additives across the Poultry sector along with the rising demand for meat consumption were some of the recognized drivers of the market. However, the rising cost of raw materials for feed production impeded market growth.

3. A detailed analysis of the strengths, weaknesses, opportunities and threats will be provided in the Animal Feed Additives Market Report.

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Segmental Analysis:

Animal Feed Additives Market Segment Analysis - by Livestock : Animal Feed Additives Market based on livestock can be further segmented into Ruminants, Poultry, Swine and Others. The poultry segment held a dominant market share in 2022 and is also anticipated to grow with a CAGR of 2.9% in 2023-2028 owing to a predominant number of poultry birds stipulated in various regions around the globe

Animal Feed Additives Market Segment Analysis - by Geography : Asia-Pacific held a dominant market share of 33% in the year 2022 and is estimated to be the fastest-growing over the forecast period of 2023-2028. It is owing to surging demand for processed meat and protein diets owing to the increase in income levels of households that are set to drive the animal feed additives market.

Competitive Landscape:

The top 5 players in the Animal Feed Additives Industry are -

2. Archer Daniels Midland Company
3. Royal D.S.M. N.V.
4. Evonik Industries AG
5. Chr. Hansen A/S

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IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Food Additives Market

B. Beverage Additives Market

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