GIA announces the release of a comprehensive global report on Animal Feed Additives market. It is estimated that this market will reach a potential of $18 billion by 2015.
Animal feed additives have long profited from the rising global demand for responsible and healthy food and the growing emphasis on animal nutrition and health.
Feed additives market has always been influenced by growing demand for meat products, which represents a key end-use segment animal feed additives.
Consumption of meat across the globe has increased substantially over the years, thereby transforming feed additives into lucrative business product.
Animal feed additives have grown in popularity based on its vast medicated as well as non-medicated applications for poultry, pig, aquaculture, companion animals, and ruminant feed.
Cherished for its ability to foster the growth of healthy and profitable animal nutrition, animal feed additives lately has ignited interests of the medical community, given its potential to deliver sustainable production of healthy and delicious meat.
However, the prolonged period of recent economic recession has slowed down the pace of growth in the global demand for agricultural crop serving feed, food, and fuel.
Spending on animal health products (such as biologics, pharmaceuticals and feed additives) to prevent and treat diseases in farm and companion animals also decreased considerably in 2008.
Increasingly health-conscious consumers, continued breakthroughs, especially in research and clinical applications areas, and expanding commercial applications will ensure sustained growth in the global animal feed additives market
over the next few years.
New products increase market growth
Extending the required impetus to market growth are recent advances in finding more scientific formulations, new molecules, and use of biotechnology, genetically modified organisms (GMOs), and natural/herbal products to enhance animal productivity.
Developments in feed manufacturing technology and new feeding concepts also unravelled possibilities to manufacture a range of novel feed additives.
Since the ban on antibiotics, livestock producers have been seeking ways to promote animal production and deliver similar benefits offered by antibiotic growth promoters, thus translating into a strong business case for alternative feed additives.
US is largest market
As stated by the new market research report on the Animal Feed Additives market, the US, Europe, and Asia-Pacific markets have been the traditional contributors to the overall market, having accounted for a combined share of 73.5% of the total revenue generated in 2009.
The US represents the largest market worldwide followed by Europe, and Asia-Pacific. Latin America, although a small market, displays the fastest Compound Average Growth Rate over the analysis period 2007-2015.
Amino acids fastest growing segment
While the animal feed antibiotics/antibacterials market is the largest product segment, having contributed a share of about 27.89% in the total market revenue generated for the year 2009, the animal feed amino acids market is the fastest growing product segment displaying a CAGR of 5.21% over the analysis period 2007-2015.
Key players in this marketplace include Adisseo France SAS, Ajinomoto Co Inc, Alpharma Inc, Alltech Inc, Archer Daniels Midland Company, BASF SE, Biovet JSC, Cargill Inc, Chareon Pokphand, Chr. Hansen A/S, Danisco A/S, DSM Nutritional Products, Elanco Animal Health, Evialis SA, Evonik Industries AG, Kemin Industries Inc, Kyowa Hakko Kirin Co. Ltd, Lallemand Inc, Lesaffre Feed Additive, Lonza Group Ltd, Novozymes A/S, Novus International, Nutreco Holding N.V, Phibro Animal Health Corporation, Provimi Holding B.V, Tessenderlo Group, and The Mosaic Company, among others.
The report titled “Animal Feed Additives: A Global Strategic Business Report” announced by Global Industry Analysts, Inc., provides a review of noteworthy market trends, growth drivers and challenges.
The report in addition also enumerates product introductions, recent acquisitions, and other strategic industry activities. The report offers latent demand estimates and projections in value sales (in US$ million) for world animal feed additives market by product segments, such as, Antibiotics/Antibacterials, Vitamins, Minerals, Amino Acids, Pre-Mixes, and Other Animal Feed Additives and also detailed geographic markets.