The feed additives market is estimated at USD 38.1 Billion in 2021; it is projected to grow at a CAGR of 5.5% to reach USD 49.6 Billion by 2026.Asia Pacific accounted for the largest share; during the forecast period, in terms of volume and value, respectively. As per the statistical data-2019 from FAO, Asia Pacific has presence of large livestock population. In addition to this, the region has witnessed an increase in the number of feed mills and feed production, particularly in countries such as India and Japan.
The preservatives segment by type is projected to achieve the fastest growth in the feed additives market.
The preservatives is the fastest-growing segment type during the forecast period. The demand of the feed preservatives has been increased due to the rising focus of the feed manufacturer on extending the shelf of the feed. In past years, significant dietary changes have occurred in livestock breeding, which has resulted in the increased need and usage of feed preservatives such as mold inhibitors and anticaking agents.
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By livestock, the poultry segment is projected to account for the largest market share in the feed additives market.
The feed additive market, in terms of livestock method, was dominated by poultry. As per the key insights from the industry expert, the poultry segment is expected to dominate the global feed additives market in the forecasted period. The increase in the demand for poultry in the Asia Pacific region is expected to generate key revenues for the feed additive manufacturers.
The dry segment by form is projected to account for the largest market share of the feed additives market over the forecast period.
The dry segment is projected to account for the largest share. The segment has higher demand among livestock producers, as they are easy to mix with feed and are easy to store and handle. Pellet feed and crumble feed forms in the dry segment are mainly preferred in the feed additive market due to the benefits such as better digestibility, palatability , and better performace of livestock in the terms of feed conversion ratio.
Asia Pacific is projected to be the largest market.
Demand for feed additives has been growing in this region, due to increasing the increasing demand for meat and meat products, in accordance with the demand for poultry-rich meat diet. In addition to this, advancements in the feed industry in countries like China are expected to create a demand for the superior-quality feed will also boost the market in the projected years.
Key Market Players T
he key players in this market include ADM (US), Cargil (US), DSM (Netherlands), DuPont (US), BASF (Germany), and Evonik (Germany). These players in this market are focusing on increasing their presence through new product launches. These companies have a strong presence in North America, Asia Pacific and Europe. They also have manufacturing facilities along with strong distribution networks across these regions.
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