The global animal feed additives market value is anticipated to reach USD 23.81 billion by 2025, according to a new report by Grand View Research, Inc. Globally increasing meat consumption has been a major factor driving market growth. In addition, growing consciousness regarding the advantages of these products along with the recent outbreak of diseases has led to the increased utilization of additives in animal feed.
These are essential components for the improvement of overall animal health and performance which are indirectly impacting the characteristics of human food products. Consumption of foodstuff containing the appropriate quantity of accompaniments exert beneficial effects upon animals such as improvement in digestion and conversion. This, in turn, has a positive economic impact on the profitable production of food products for the human population.
Amino acids were the largest product category in 2015 .and is expected to maintain a comparatively low growth rate over the forecast period. Lysine was the major amino acid consumed with a share of over 67% in 2015.
Feed acidifiers are expected to observe the fastest growth over the next nine years with an estimated CAGR of around 6.4% from 2016 to 2025. It has been evident that acidifiers are instrumental in increasing the shelf life of fodder, which further helps in minimization of the overall feed cost, thus driving its market. In addition, increasing usage of feed acidifiers in the U.S. and Europe owing to ban on antibiotics is also expected to boost its demand over the forecast period.
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Further key findings from the report suggest:
Grand View Research has segmented the global animal feed additives market on the basis of product, livestock, and region:
Product Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)
Livestock Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)
Regional Outlook (Volume, Tons; Revenue, USD Million, 2014 – 2025)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
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