The graph of the animal feed additive market is predicted to rise due to surge in the demand for additives in animal ruminants. The demand is directly proportional to the consumption of meat and dairy products in the market. Feed additives have become a necessity in animal husbandries to provide the required nutrition and take care of overall growth of the animals. Not just that, the additives are found to provide protection against various diseases, as well. Avian flu, foot, and mouth diseases are among the prominent diseases against which additives provide protection. Also, the key companies are trying to come with new technologies for development in coating quality of the animal feed.
All the above-mentioned factors propel the animal feed additives market at a CAGR (contributing annual growth rate) of 4.3% between the year 2015 and 2021, as per the report by Transparency Market Research. The market is projected to produce US $5.9 bn revenue by the end of 2021.
Rise of Animal Feed Additive Market around Globe
Asia Pacific is expected to have 32.6 % of the global share by the end of 2021. The share is considerably large due to high demand for animal products in the region. India and China are two biggest markets, owing to the rising meat consumption in these countries. Another main reason for the growth in the regional market is export of animal products to other regions.
North America has also become prominent contributor to the growth of the animal feed additive market because of the surge in the demand for cattle-based dairy and meat products in the region. Increasing cattle population of Canada is one of the main reasons behind expansion of animal feed additive market in North America.
The other substantial reason for extension of animal feed additive market in the region is strict regulations for sale of dairy and animal products. Companies in the business of dairy and animal products have to adhere to certain parameters to sell their products in the market.
Focus on Cattle and Consumer Health Imparts Revenue Boost
Looking at the trend, people are becoming aware of the food products they are consuming. Keeping this in mind, producers in the animal feed additive market have been improving the quality of their products. This is one of the key trends for the rising demand of animal feed additives in the market.
Owing to the improvement in the quality of additives, cattle alone will be contributing upto 80.80% of the total animal feed additives, by the end of 2021.
The expansion rate is attracting investors in the market. Some of the key players of the Animal feed additive market are Elanco Animal Health, Archer Daniels Midland Co., Danisco A/S, Chr. Hansen Holding A/S, DSM, Novozymes, and Evonik Industries.
The study presented here is based on a report by Transparency Market Research (TMR) titled “Animal Feed Additives Market for Ruminants - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021.”
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with aims of various industries. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.”
Transparency Market Research
90 State Street,
Albany NY - 12207
USA - Canada Toll Free: 866-552-3453
7 of 10 large enterprizes view our ToC to take the right decision.View Report ToC