Market Scenario
Market Research Future (MRFR) studied the feed additive market 2020 for the review period 2017 to 2023. By 2023, the feed additives market can rise at 5.96% CAGR, reveals MRFR study. The feed additive market value can significantly escalate in the analysis period. The expansion of the world population is creating considerable demand for food, boosting the need for accelerated agriculture. Feed additives are food supplements that farmers feed their livestock. These feed additives make livestock healthy, so that they can give better yield and contribute effectively to agriculture. The high productivity in agriculture offered by livestock fed on feed additives that comprise nutrients, minerals, ions, vitamins, proteins, and other nutrients is expected to underpin the expansion of the feed additives market in the review period. The rise in prominence of feed additives among farmers as they aid in both qualitative and quantitative production by livestock can add momentum to the global market. Changing lifestyle, rise in preferences for natural products by consumers can augment the feed additive market through the review period. In addition, increase in meat consumption can drive the feed additives market along the assessment period. On the flip side, strict regulatory procedures and constant fluctuation of cost of raw material can hinder the growth of the feed additives market. Other crucial factors are studied meticulously and detailed in the report that are prepared by proficient analysts.
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Global Feed Additives Market: Segmental Analysis
The segment assessment of the feed additives market is done by livestock, type, and form.
The type based segment of the feed additives market are amino acids, vitamins, acidifiers, enzymes, carotenoids, minerals, prebiotics, and lipids among others. The amino acids type segment can have a greater hold on the global market in the review period.
The mode of form based segment of the feed additives market are liquid and dry. The dry segment can have significant prominence in the global market. The segment can acquire about 87.45% share of the worldwide market. The easy availability of additives in dry form that offers high shelf life can favor the market in the years ahead.
The mode of livestock based segment of the feed additives market are ruminants, swine, and poultry among others. The poultry segment can dominate the global market as the demand for poultry is observed to rapidly surge in the world.
Regional Insights
Asia Pacific feed additive market can earn a significant revenue by the end of the analysis period. India is expected to contribute largely to the expansion of the feed additive market in the region. According to MRFR regional assessment, India can gain considerable revenue for the feed additives market from its livestock population. Urbanization and strong economy are regional pursuit that can benefit the market. In addition, the existence of a large number of feed mills can also influence the market to a greater extent. The lenient agriculture regulations in APAC can contribute significantly to the augmentation of the feed additive market in the study period. The rise in foreign investment for a large scale production of feed additives can support the expansion of APAC market in the analysis period. North America feed additives market can thrive in the years ahead, following Europe.
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Competitive Dashboard
Alltech Inc. (U.S.), Cargill Inc. (U.S.), Evonik Industries (Germany), Archer-Daniels-Midland Company (U.S.), Danisco A/S (Denmark), BASF SE (Germany), and Adisseo France SAS (France) are some reputed enterprises that are operating in the feed additives market as stated by MRFR.
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