They are an essential part of the animal nutritional requirement. They enhance feed quality, and hence, improve animal health and productivity. Rising living standards and disposable income are increasing meat and dairy product consumption. Combined with that, the growing preference among livestock producers toward quality and nutrition is fueling the steady demand for feed additives.
Segmentation by type
The most important types are vitamins, minerals, amino acids, antioxidants, fatty acids, medications, and flavors & sweeteners. Vitamins and minerals improve weaning and conception rates, immunity, and overall health. Medications help livestock farmers to decrease the chances of animals becoming diseased.
Segmentation by region
The market is divided into various regions, ie, America, Europe, Asia-Pacific, and Middle East & Africa. Asia-Pacific is considered to be the fastest-growing market, with China expected to be the global leader. EU has put forward stringent regulation and approval process, which may increase the manufacturing cost and hamper demand.
Increasing demand for improved quality of farm products amid rising living standards in countries, such as New Zealand, Portugal, and Iceland, is driving the growth of the global feed additive market. Increased awareness about the nutritional content of meat and other dairy products among consumers has prompted livestock farmers to provide better nutrition to the farm animals. These factors have led to a steady growth of the market.
However, conventional feeding methods, such as crop residue and grazing, still pose a threat to the feed additive market, owing to very low or zero costs associated. Further restraints include a ban on various medications in several countries and stringent regulations, as well as volatility, in prices of raw materials. Case in point is the EU Regulation 1831/2003, which states that all feed additives on the market within the European Union have to undergo a detailed approval process. Other markets are also expected to follow suit, according to the market intelligence firm.
Here is a list of some of the major market players:
– Adisseo France SAS
– BASF SE
– Danisco Animal Nutrition
– Alltech Inc.
– Cargill Inc.
– Chr. Hansen
– Archer Daniels Midland Company
Various key developments are being witnessed in the feed additive industry.
– Biomin, the Austria-based animal feed additive manufacturer, opened a new production plant in Jiangsu, China.
– Olmix opened its first factory in Asia, with an annual production capacity of 15,000 metric ton of feed additive in Vietnam.
– Nutriad engaged in partnerships with Brazilian universities, with the aim to evaluate its product portfolio for tropical circumstances.