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14 Jun, 2022, 14:15 BST
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Rising demand for animal nutrition, the ban of antibiotics in many places, leading participants in the livestock industry and meat manufacturers to utilize feed additives, standardization of meat products is some of the factors to lead the market.
JERSEY CITY, N.J., June 14, 2022 /PRNewswire/ — Verified Market Research recently published a report, "Feed Additives Market" By Type (Amino Acids, Phosphate), By Form (Liquid, Dry), By Livestock (Ruminants, Poultry), and By Geography. According to Verified Market Research, the Feed Additives Market size was valued at USD 38.1 Billion in 2021 and is projected to reach USD 84.1 Billion by 2030, growing at a CAGR of 5.9% from 2022 to 2030.
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Browse in-depth TOC on "Feed Additives Market"
202 – Pages
126 – Tables
37 – Figures
Global Feed Additives Market Overview
Increased usage of feed additives is due to increased consumption of animal-based goods, increased feed output, standardization of meat products due to disease outbreaks, and deployment of innovative animal husbandry procedures to improve meat quality. Many farmers resorted to panic purchase of animal feed in anticipation of potential shortages as governments around the world enacted stay-at-home orders. The scarcity of raw materials or feed additives to manufacture compound feeds is causing concern among key stakeholders in the livestock feed sector.
However, given the frequency of lockdowns, the individual governments have made steps to ensure a seamless flow of raw materials throughout the agricultural sectors, including compound feed manufacturing facilities, which is expected to help the market. Probiotics are expected to boost the worldwide feed additives Market due to increased knowledge, rising demand for animal nutrition, and the ban of antibiotics in many places, leading participants in the livestock industry and meat manufacturers to utilize them. Many countries around the world have made food safety a top priority. Livestock production has increased in all countries and animal groupings to meet the demands of changing population food patterns, particularly in developing Markets.
The major players in the market are Kemin, ADM, BASF, Chr. Hansen, Cargill, Nutreco, DuPont, Invivo, Evonik, DSM and Solvay.
Verified Market Research has segmented the Global Feed Additives Market On the basis of Type, Form, Livestock, and Geography.
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SOURCE Verified Market Research
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Feed Additives Market size worth $ 84.1 Billion, Globally, by 2030 at 5.9% CAGR: Verified Market Research® – PR Newswire UK
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