Animal Feed Additives Market: Introduction
A recent study published by Transparency Market Research on the global market for animal feed additives includes North America, Latin America, Europe, South Asia, East Asia, Oceania, Middle East & Africa industry analysis and opportunity assessment for 2021-2031.
With the highest market value share of 25.6%, revenue generated from the Europe market is valued over US$ 10.26 Bn in 2021, which is estimated to rise at a CAGR of 3.3%, to reach US$ 14.17 Mn by 2031.
Positive Impact of Additives on Animal Health
The global protein consumption has resulted in increased commercial animal production, which is predicted to boost the demand for feed additives. The growth of the animal feed sector is aided by inorganic phosphate additions. Exogenous enzymes are frequently used in monogastric animals' diets to reduce the anti-nutritional effects of the feed. Carbohydrases are enzymes that break down complex sugars and carbohydrates. Xylanase, ß-glucanase, and cellulase are among the enzymes that assist in improving the nutritional value of grain leftovers for pigs and poultry.
Increasing Demand for Meat and Seafood Products in Animal Feed Additives Market
Commercial farmers require high quality, nutritionally rich feed for high quality meat production as a result of growing meat and seafood consumption, which is driving the global animal feed additives market. During the forecast period, the global animal feed additives market is expected to drive the market, owing to the rising demand for meat and seafood products.
The aquaculture market is expanding, leading to greater consumption of protein-rich meats, farmers of aquaculture opting animal-based proteins products over the plant-based protein products to aid the nutritional components in the daily diet routine of animal. Moreover, plant-based additives lack in vitamin B12, carnosine (an antioxidant concentrated in muscles and brain of animal) and others.
Growth of Commercial Farming to Boost Sales of Animal Feed Additives
Commercial farming includes livestock and agriculture, both of which are thriving. China, India, the U.K., and the U.S., among other countries, rely heavily on commercial agriculture and aquaculture cultivation.
In response to rising demand for meat and seafood products, commercial farming production has expanded. The growing global demand for high-quality meat and fish products, as well as increased meat and milk consumption, is driving the commercial agricultural business.
Increased Livestock Production across Globe
A huge increase in the production and consumption of animal-derived commodities has resulted in the livestock revolution over the previous two decades. The significant increase in the consumption of animal-based products can be attributed to the rising population and income levels. The growing demand for meat products has resulted in increased animal production, with urbanization being one of the major contributors.
Livestock farmers are continuously on the search for products that will improve the quality and performance of their animals. The food that livestock animals eat has a big impact on the quality of the meat and by-products that they produce. All livestock animals require a balanced supply of water, minerals, vitamins, and proteins to stay healthy.
Global Animal Feed Additives Market: Segmentation
Animal Feed Additives Market by Type
Animal Feed Additives Market by Source
Animal Feed Additives Market by Form
Animal Feed Additives Market by Livestock
Animal Feed Additives Market by Region
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