The drivers of the market are increase in demand for meat products and Industrialization in meat production, The global animal feed additives market is expected to grow at a compound annual growth rate (CAGR) of 4.2% and reach US$21.71 billion by 2022 from $15.6 billion in 2014.
The factors such as rising raw material cost and government regulations are inhibiting the market growth. However the increasing cost of natural feed products, environmental concerns and regulatory ban over some harmful additives are creating opportunities for the market.
Global Animal Feed Additives Market is segmented by type, by stock and by geography. Based on type, market is classified into Amino Acids, Antibiotics, Antioxidants, Feed Acidifiers, Feed Enzymes, Minerals and Vitamins. Based on stock, market is categorized into Aquatic Animals, Cattle and Poultry. Based on geography, the market is segmented into North America, Europe, Asia-Pacific and Rest of the World. Asia-Pacific has almost one third of the global animal feed additive market, which is due to the demand in meat production and increase in meat exports. Significant mergers and acquisitions, collaborations, and joint ventures are the industry trends that are playing a major role for the market growth.
The key players in the Animal Feed Additives Market include Alltech Inc., Biovet JSC, Cargill Inc, DuPont, Evonik Industries AG, InVivo NSA S.A., Lonza Group Ltd, Novozymes A/S, Tessenderlo Group and The Mosaic Company.
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