Feed Additives Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Type (Amino Acids, Vitamins, Enzymes, Antibiotics, and Others), By Livestock (Poultry, Swine, Aquaculture, and Others), By Function (Growth Promotion, Gut Health Improvement, and Mycotoxin Management), and By Geography (North America, Europe, Asia Pacific, South America, And Middle East & Africa)

The global feed additives market was valued at USD 40,038.0 Million in 2022 and is anticipated to reach a value of USD 60,518.7 Million by 2030 expanding at a CAGR of 5.4% between 2023 and 2030.

An additional nutrition or medication added for cattle is called a feed additive. Vitamins, fatty acids, minerals, amino acids, pharmaceuticals, fungi, and steroidal substances are examples of these additions. The additives may have an influence on the digestion, hygiene, presentation, or intestinal health of the diet. There are four main types of feed additives, they are technological additives, sensory additives, nutritional additives, and zootechnical additives. Technological additives are added to feed to enhance its nutritional value or to facilitate its storage and transportation. Preservatives, antioxidants, emulsifiers, acidity regulators, and silage additives are a few types of technological additives. Sensory additives are additives that are appealing to the senses of cattle such as the taste or smell of food. Sensory additives include flavors, colorants, and sweeteners. Nutritional additives provide the essential nutrients that may be lacking in their diet. Examples of nutritional additives include vitamins, minerals, amino acids, and fatty acids. Zootechnical additives are intended to enhance the health and performance of animals. Probiotics, enzymes, and growth promoters are a few types of zootechnical additives.

Feed Additives Market Major Driving Forces

Increasing Demand for Meat and Poultry: Population growth across the world has created a huge demand for food. To sustain such a population, demand for meat and poultry is bound to increase. Hence, to improve the productivity and quality of meat and poultry, feed additives play a crucial role.

Growth in the Dairy Sector: Feed additives are extremely helpful in increasing the milk productivity of cattle such as cows, buffaloes, goats, and others. Thereby, contributing in sustaining dairy demand across the world.

Food Safety and Sustainability: There is a widespread consciousness regarding the safety and sustainability of food products. Hence, feed additives help in improving animal health and reduce the environmental impact on animal rearing.

Growing Appreciation for Feed Additives: The advantages of feed additives are being recognized by growers and feed producers on a greater scale. As a result, there is a growing need for feed additives.

Feed Additives Market Key Opportunities

Shift Towards Natural Feed Additives: Growing health consciousness has created an environment for the greater and swift adoption of natural feed additives such as prebiotics, probiotics, enzymes, essential oils, organic acids, plant extracts, and seaweeds to improve performance, health, and welfare in animals is preferred over artificial feed additives.

Scientific Developments: The feed additives sector is seeing an increase in invention. As a result, feed additives are being developed to be even more effective and helpful to livestock farmers.

Growing Customer Worry Over Livestock Wellness: People are becoming more conscious of the needs and well-being of cattle. The need for feed additives that can enhance livestock health and mitigate anxiousness is being driven by this industry.

Feed additives Market Key Trends

·         A number of important reasons, such as increasing feed output, burgeoning livestock animal populations, and rising consumer appetite for animal products, are driving the ever-changing global feed additives market. The main categories of feed additives used in animal nutrition are amino acids, binders, minerals, prebiotics, probiotics, and acidifiers.

·         Cattle growth and development depend heavily on amino acids are among the top feed additives. Besides this, binders, which are used to preserve pellet integrity and prevent fragmentation is another popular type of additive consumed globally.

·         Demands for natural and organic products are on the rise and the feed additives sector is not exempt from this trend. Interest to get natural feed additives including herbal extracts, probiotics, and prebiotics is booming.

·         Acidifiers have the ability to reduce the absorption of harmful compounds and infectious microbes and enhance feed effectiveness for livestock nutrition.

·         Concerns regarding feed additive security are growing among customers. To overcome these issues, further study on the efficacy of feed additives is in the trend

Region-wise Market Insights

Asia Pacific accounted for the largest market share at 34.4% in 2022 moreover, Asia Pacific is also expected to register the fastest growth, expanding at a CAGR of 6.5% between 2023 and 2030.

Asia Pacific is the largest market for feed additives globally. The region's need for feed additives is driven by the abundance of cattle and the huge market for animal feeds. The desire for feed additives in the area is also driven by the existence of rural economies and a developing structured marketplace that is extremely conscious of improved methods for raising animals. North America is one of the largest markets for feed additives since it is home to several significant manufacturers, including Cargill, Altec, ADM, and Kemin industries. The main causes propelling consumer appetite for feed additives in North America include the region's water scarcity, the substantial increase in cattle output, rising intake of meat, and the extensive use of animal husbandry for the cultivation of crops. The rising preference for foods high in proteins in Europe has led to a rise in the production of meat, which in turn has increased the necessity for animal feed and feed additives. Furthermore, since there is an enormous desire for meat with a greater health benefit, animal output is rising significantly in the European market. The market for additives for animal feed in Europe is being favorably driven by this.

Market Competition Landscape

The desire for better animal wellness and nutrition, as well as increasing requests for animal protein products, have created a highly dynamic global market for feed additives. In this sector, numerous businesses are present and provide a large selection of feed additives and other goods.

Key players in the feed additives market engage in strategies aimed at gaining a competitive edge. These strategies include product innovation, and the incorporation of sustainable and eco-friendly materials to meet evolving consumer preferences.

Prominent players in the market include:

·         Cargill, Inc.

·         Archer Daniels Midland Company (ADM)

·         Nutreco N.V.

·         Evonik Industries AG

·         Koninklijke DSM N.V.

·         BASF SE

·         Alltech

·         Novozymes A/S

·         Adisseo

·         Zoetis

Based in Minneapolis, Minnesota, Cargill is a privately held international firm that is among the biggest manufacturers of crop-related goods worldwide, such as feed additives. The brand provides an extensive variety of goods, such as vitamins, minerals, amino acids, enzymes, and probiotics. It has an extensive track record of developing novel products in the feed additives market. In addition, Cargill provides a range of services, including nutrition counseling and feed formulation. American biotechnology organization Alltech Inc. has its headquarters in Nicholasville, Kentucky. The corporation provides a broad spectrum of goods, such as probiotics, prebiotics, enzymes, and yeast products. It is a global pioneer in the development and production of feed additives. Additionally, Alltech Inc. provides a range of services, including diagnostic testing and feed analysis.