According to the recent study the animal feed additive market is projected to reach an estimated $51.1 billion by 2028 from $41.2 billion in 2023, at a CAGR of 4.4% from 2023 to 2028. Growth in this market is primarily driven by growing preference for these additives to prevent livestock-related illnesses such swine flu and foot-and-mouth diseases and massive consumption of meat, eggs, and dairy products among people.
A more than 150–page
report is developed to understand trends, opportunities and forecast in animal
feed additive market by product (vitamins, amino acids, antibiotics, enzymes,
minerals, eubiotics, and others), form (liquid and dry), species (poultry,
swine, aquatic animals, cattle, and others), and region (North America, Europe,
Asia Pacific, and the Rest of the World).
“Liquid market is expected to remain the largest segment during
the forecast period.”
Based on form, the
animal feed additive market is segmented into liquid and dry. Lucintel
forecasts that the liquid market is expected to remain the largest segment because
it is affordable, convenient, and can be handled easily as compared to dry
form.
“Within the animal feed additive market, the poultry segment is
expected to remain the largest species.”
Based on species the poultry
segment is expected to witness the highest growth over the forecast period due
to the massive production of high-quality chicken meat, eggs, and poultry
bio-products worldwide and significant need for nutrient-dense diet.
“Asia pacific will dominate the animal feed additive market in
near future.”
APAC will remain the
largest region due to the existing large livestock population, growing concern
towards quality of meat and meat-related products, and presence of key players
in the region.
Major players of animal
feed additive market are adopting various growth strategies like new product
launches, expansions, merger and acquisitions, partnerships, agreements, and
collaborations to expand their presence in this market. Cargill, HONG HA
NUTRITION, BASF SE, Kemin Industries, and ANOVA are among the major animal feed
additive providers.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
At Lucintel, we offer solutions for
you growth through game changer ideas and robust market &
unmet needs analysis. We are based in
Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20
years. We are quoted in several publications like the Wall Street Journal,
ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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