The report "Global Animal Feed Additives by Type, Livestock, Geography, Regulations Trends & Forecasts (2009 - 2016)" forecasts an annual growth of 3.8% to $18.7 billion in 2016.
The global feed additives market is estimated to reach $18.7 billion in 2016 with an expected (compound annual growth rate (CAGR) of 3.8% from 2011 to 2016.
The Asian market is driving the sales and is expected to hold 28.5% of the global market share in 2016.
The Asian market is expected to have a high CAGR of 4.74% due to increasing demand for meat products in the region, and rising domestic meat production.
Europe is the leading market for feed additives, with 35% share in 2011 resulting from higher regulatory concerns over meat quality and safety, and increasing per capita meat consumption.
North America is the second largest market, with a share of 28.5% in 2011; the U.S. is the largest market with a share of more than 80%.
Antibiotics is the leading demand generating product with a share of more than 27% in 2011, followed by amino acid - 26.5% share in the global feed additives market.
The consumption of antibiotics is high due to increasing demand in Asian and Latin American regions to meet the high domestic and export demand for meat.
Meat demand drives growth
The global feed additives industry has been in a higher growth trajectory from the last four years. This growth is largely fuelled by the increasing meat consumption and rising concerns over meat quality and safety.
Growth is particularly high in emerging countries such as China, India, and Brazil due to increasing income levels and rising per capita meat consumption.
Some of the major drivers of the global feed additives industry identified in this report are rise in global meat consumption, increasing awareness towards meat quality and safety, increasing mass production of meat, and recent livestock disease outbreaks.
Major restraints identified in this report are regulatory structure and intervention, and rising raw material cost.