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The major driving forces behind the animal feed and feed additives market is the worldwide increase, in the consumption of meat. Other driving factors that fuel the growth of the animal feed and feed additives market is the increasing demand for low price meat, accompanied with high nutritional value. The industrialization of the livestock industry, increasing awareness about quality of food, and threat of diseases in the livestock are some of the other drivers of the global animal feed and feed additives market.
Animal feed additives are a vital component for the growing meat production sector. Animal feed and feed additives are mixed with simple feed to convey nutrition and improve the overall growth of the animal. Feed additives provide benefits, such as improved weight, enhanced feed digestion, and prevention from various diseases. Animal feed additives are substances that are used for improving animal health. The feed additives are incorporated in varying doses and various forms, depending on the animal’s breed and species.
The farm animals which aren’t able to collect enough nutrients from regular meals are fed with feed elements. The nutrients that farmers feed to cattle are amino acids, vitamins, fatty acids, and minerals. The feed elements are given to the farm animals for their proper growth and nourishment. The nutritional value of the animal feeds, are influenced by hygiene, effect on intestinal health, nutrient content, presentation, and digestibility. Most of the diet of farm animals includes wheat, maize and soybean, due to high costs of quality feed.
The global animal feed and feed additives market can be classified, on the basis of types, and livestock. Based on the types, the market can be segmented, into antioxidants, vitamins, minerals, antibiotics, amino acids, enzymes, acidifiers, binders, and others. Based on livestock, the global market for animal feed and feed additives can be divided into swine cattle, poultry, aquatic animals, and others. Amino acids are essential for the growth of animals, especially poultry and swine. With regard to livestock, the poultry segment dominated the global animal feed and feed additives market, and accounted for an approximate share of 35%, in 2014.
The growing demand for protein, especially in Latin America and Asia-Pacific, is anticipated to become the key growth driver for the demand, of feed additives in the forecast period. The up surging demand for white meat, specifically in India and China, is estimated to drive the poultry feed additive preference, in the near future. Furthermore, various disease occurrences in livestock animals, such as foot and mouth diseases, and swine flu has led to the increased rules and regulations on meat quality and safety in the past decade, which has further encouraged the use of feed additives.
Product cost and raw material concerns, specifically upon specialty goods, such as acidifiers, enzymes, and minerals, is expected to become a major challenge for the animal feed and feed additives market participants, in the next few years. Different kinds of regulatory structures, and unstable economies, and increasing cost of operations, are the major restraining factors for the market. The increase in price of raw materials for feed additives is another major challenge, in the global animal feed and feed additives market.
Some of the major competitors in the global animal feed and feed additives market are Elanco, Novozymes, Kemin Industries Inc, Novus International, Cargill Inc. , ADDCON, BASF SE, Adisseo, Biomin GmbH., Koninklijke DSM N.V., Novus International Inc., and Nutreco N.V.