Animal Feed Additives Market size is witnessing growth over a CAGR of 4.87% through 2026
Animal Feed Additives Market is influenced by growth-driving factors such as rise in global meat consumption, introduction of quality feed, and industrialization of the livestock industry. Low cost, easy availability and protein-rich content of meat is the most significant factor driving the poultry industry across the globe.
Accordingly, feed enzymes are gaining marketing preference by key vendors aiding the organic food producers to increase the rate of biochemical reaction, improve feed quality, and contribute to the animal's welfare.
Key vendors implicate market driving trends including increasing feed efficiency, improving animal growth and reducing feed costs. Top players contributing towards major market share Key players of animal feed market include Addcon Group Gmbh, Novozymes, Ajinomoto Co., Inc, Archer Daniel Midland (ADM), BASF SE, Biomin Holdings Gmbh, Cargill, DSM, Dowdupont , and Evonik Industries.
Introduction of new enzyme strongly impacts animal feed additives market growth
Nutritive enzymes are added to swine, poultry, cattle, and aqua feed to enhance production and better feed conversion. On similar lines, in September 2018, Novozymes and DSM have co-developed a new enzyme product Balanciusto improve gut functionality for broiler chickens.
Balancius works by removing bacterial cell debris from the chicken’s gut, enabling farmers to produce 3% more food from the same amount of feed.
FDA addresses promising expansion of animal feed additives market size
The Federal Food, Drug, and Cosmetic Act (F&DC Act) gives FDA the authority to regulate ingredients and additives used in animal food. Food ingredients that are demonstrated to be safe and effective are approved as Food Additive Petitions.
Also, substances used in the processing, packaging, packing, or transporting of animal food may be food additives based on indirect or incidental contact with animal food.
Further, growth of medicated feed is a new emergence influencing animal feed additives market growth with benefits of formulated feed to prevent diseases, to improve growth and productivity within the animal.
Disease outbreaks in livestock is among the major animal feed additives market drivers
Growing burden of diseases attributed to climate change stress, drought and flooding events resulting in increased spread of existing vector-borne diseases and macro-parasites, along with the emergence of diseases such as salmonella, avian influenza in livestock drives the animal feed additives market growth.
Disease outbreaks disrupt livestock product trade and inhibit sustained investment in livestock production, food additives approved by the FDA are increasingly contributing towards livestock market share.
Animal feed which includes food supplements and nutrients are largely trending across the feed additives market.
Strong retail sales across the U.S depicts long term animal feed additives market growth
The revised statistics of 2018, estimates the organic meat sales to grow by break through $xx billion marks in the United States, followed by lucrative organic meat market growth across EU.
As such the year 2018, proclaimed about 3.4 million organically farmed pigs in the United Kingdom.
The health awareness among the millennial across the developed countries supported with government regulations boosts the market value in the medium to long term, thus increasing the demand for animal feed composed of essential nutrients providing maximum benefit.