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Feed Additive Market’s Opportunity and Challenges

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Feed Additive Market’s Opportunity and Challenges

October 07
13:46 2019
Feed Additive Market’s Opportunity and Challenges

MarketsandMarkets
The feed additives market is projected to grow at a CAGR of 6.1% from 2018, to reach USD 44,281.3 million by 2023, in terms of value.

The growth of feed additives market is attributed to growing focus on livestock and their welfare, which is driven by the global increase in demand for meat and poultry products, rise in global feed production with improved technologies, and increasing standardization of meat products due to contamination from various bacteria. The growth of the market is restricted due to stringent regulations in regions such as Europe and price volatility.

The dry segment is estimated to dominate the market for feed additives, by form, in 2018. Dry feed additives have higher demand among livestock producers, as they are easy to mix with the feed, and are easy to store and handle. Additionally, the unavailability of modern feed mills and equipment for using liquid feed additives makes the dry form more preferable among the livestock farmers. Amino acids, flavors & sweeteners, minerals, probiotics, phosphates, carotenoids, acidifiers, mycotoxin detoxifiers, antioxidants, and vitamins are a few types of feed additives that are mostly preferred in a dry form.

The synthetic segment is projected to be the faster-growing segment, by source, in the feed additives market, during the forecast period. Feed additives are synthesized on a large scale to meet the requirements of the growing livestock industry. Natural feed additives are unstable in their natural forms and not readily available for use, thus making synthetic feed additives more preferable for use.

How shifting towards natural growth promoters can be an opportunity?

Antimicrobial compounds are commonly included in poultry diets for promoting growth and controlling diseases. The EU banned feed-grade antibiotic growth promoters owing to cross-resistance and also due to the risk posed to EU’s food safety and public health. Due to this, feed manufacturers are adopting new forms of natural feed additives with the help of modern science. This new generation of growth enhancers includes botanical additives such as appropriate blends of herbs or plant extracts.

Natural growth promoters (NGPs) predominantly include organic acids, probiotics, prebiotics, synbiotics, phytogenics, feed enzymes, and immune stimulants. The main advantage of NGPs over antibiotics is that they usually do not bear any risk in terms of bacterial resistance or undesired residues in animal products such as meat, milk, or eggs. The addition of NGPs may have a number of beneficial effects, such as increased growth performance, improved feed efficiency, and rapid maturation of the immune system. The inclusion of phytogenics in feed is still in its nascent stage. As phytogenics are derived from natural sources, their inclusion is expected to be more profitable as the same efficiency is derived at a low price. Their inclusion is also expected to increase the acceptance amongst farmers as well as end consumers.

To know about the assumptions considered for the study, download the PDF brochure

In terms of geographical coverage, the feed additives market has been segmented into 5 regions, namely, North America, Europe, Asia Pacific (APAC), South America, and RoW. The Asia Pacific is projected to be the fastest-growing segment during the forecast period. This is due to the large livestock population and higher consumption of levels of meat and dairy in the region. Developments and innovations in the production processes in countries such as China have further improved the output and capacity of the meat industry in the region. Increasing demand for processed meat, protein diet, and dairy products, due to growth in household income levels, also continue to drive the demand for feed additives in this region. The shift toward the usage of natural growth promoters and an increase in demand for nutrition supplements for monogastric animals are expected to create an opportunity for the feed additives market in the coming years.

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