New report on animal feed additive market available
According to a recent study from IndustryARC, the global animal feed additive market is estimated to grow at a CAGR of 4.2 percent and reach $27.2 billion by 2020.
A new report, "Animal Feed Additive Market Analysis: By Type (Technological & Zoo technical feed additives, Nutritional Feed Additives, and Sensory Feed Additives), By Livestock (Swine, Poultry, Cattle, Aquaculture and Others) – With Forecast (2015 – 2020)," is available.
Feed additives are the functional ingredients added to the feed to aid healthy growth of animals. There are various types of feed additives catering to a host of nutritional requirements depending upon livestock. The animal feed additive market can be mainly analyzed by types of additives, livestock and geography. By type, the animal feed additive market is divided into Technological & Zoo technical feed additives, Nutritional Feed Additives, and Sensory Feed Additives. By livestock, the animal feed additive market is segmented into swine, poultry, cattle, aquaculture and others.
In the recent past, the demand for feed additives has witnessed growth due to growing awareness among farmers, decreasing quality of natural feed and rising nutrient deficiency disorders in animals. The increasing industrialization of meat production in emerging economies such as China, India, and Vietnam is providing impetus to the animal feed additive market growth. This growth is also however fostering unhygienic growing practices among few famers to cut down operation costs. The risk for disease outbreaks is increasing due to malpractices such as cramping animals in cages, supply of substandard feed, lack of proper health checks and preventive measures. Use of feed enzymes in feedstuffs protect the livestock from such outbreaks and ensure healthy growth. Growing awareness have created a need for medical assistance in livestock breeding industry that will drive demand for nutritional feed additives such as vitamins, minerals and amino acids.
Technological and zoo technical type of feed additive holds the major share in global animal feed additive market in 2014. Growing concerns about the quality of meet is poised to fuel the growth of nutritional feed additives during the forecast period. Feed prebiotics and probiotics are estimated to be the fastest growing segment during 2015-20. Amino acids hold more than half of the market share in nutritional animal feed additive market and are forecast to be the fastest growing segment during 2015-20. Asia-Pacific is the most dominant market for animal feed additive and is estimated to reach $9,030.1 million by 2020 at a rate of 5.1 percent CAGR.