Feed Additives Market to Partake Significant Development

Feed additives are products such as amino acids, phosphates, vitamins, enzymes etc. that are used in animal nutrition for purpose of improving the quality of feed and the quality of food from animal origin, or to improve the animals’ performance and health, e.g. providing enhanced digestibility of the feed materials. The feed additives market is projected to grow from USD 33.0 billion in 2018 to USD 44.3 billion by 2023, at a CAGR of 6.1% during the forecast period. This is attributed to the growth in the feed production and technological innovations and the adoption of advanced animal husbandry practices.

Increase in demand and consumption of livestock-based products such as dairy & dairy-based products, meat, and eggs is expected to drive the usage of feed additives in feed for the growth and development of farm animals. According to FAO data, it has been stated that the global meat production is projected to be 16% higher by 2025. Poultry meat is the primary driver for the growth of the overall meat production, owing to its high demand, low production cost, and lower product prices, both in developed and developing countries. Furthermore, owing to the increasing awareness about the role and dynamics of food nutrients, especially protein, on overall physical and mental growth and development, there is a growing trend toward animal-sourced protein in the form of either meat, eggs, or milk. This drives the usage of feed additives in feed as it increases its nutritional quality.

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Increase in demand for nutritional supplements for monogastric animals provides as an opportunity for the growth of feed additive market. As monogastric animals cannot synthesize vitamin B complex compounds within their body, as compared to ruminants, there is a considerable demand for vitamin and mineral supplements in this sector. These sectors are witnessing better growth in the developing markets of the Asia Pacific and South American regions.

The major vendors in the global market include Cargill (US), DowDuPont (US), ADM (US), Evonik (Germany), BASF (Germany), DSM (Netherlands), Solvay (Belgium), Ajinomoto (Japan), Novozymes (Denmark), Chr. Hansen (Denmark), InVivo (France), Nutreco (Netherlands), Kemin (US), Adisseo (France), and Alltech (US). These players have broad industry coverage and strong operational and financial strength; they have grown organically and inorganically in the recent past.

Sustainability of feed and livestock chain posing a challenge to the feed additive market

The global feed addictive industry is focusing on improving feed efficiency by improving the feed conversion rates for all major livestock and farmed fish species. The feed and livestock industries can achieve sustainability by developing a harmonized environmental footprint methodology, based on life cycle analysis, involving the entire chain. The development of common metrics can also help to calculate a broader range of resource efficiency indicators. Efficient usage of feed ingredients can support the reduction of the environmental impact of livestock farming through resource-efficient feed production. Use of co-products from other processing industries can reduce the pressure on land-grown crops.

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