The animal feed additives market share is expected to exceed US$22 billion by 2022. Poultry feed additives take up US$8.5 billion.
This is according to a new report by market firm Global Market Insights.
The increased demand for protein increases livestock production around the world, hence the need for animal feed additives. Especially in Brazil, India and China, the need for meat is growing, due to a rise in per capita disposable income. This should drive animal feed additives market growth. In addition, in the quest to find suitable alternatives for keeping animals healthy and reduce antibiotics, feed additives that have a positive effect on health and performance are increasingly being mixed into animal feed.
In the feed additives market, the market size for amino acids will witness significant gains of over 4.5%. Lysine, threonine, tryptophan and methionine are mainly used amino acids for swine and poultry applications which are important for metabolic processes and animal health. Market size for feed acidifiers is forecast to exhibit growth in the foreseeable future. Increasing concerns for improvising feed quality along with growing nutritional additives demand is likely to fuel industry growth.
The analysts from Global Market Insights also see significant growth in the feed additives market tin China. The antioxidants market in China for example should grow at more than 6%. This is partly due to the favourable regulatory guidelines. But also in Japan, growth in additive production is witnessed. The Japanese animal feed additives market is projected to surpass US$425 million by 2022. Rising meat consumption along with increasing concern over meat safety and quality should drive regional growth.
According to the report, global feed additive market may also grow due to various disease outbreaks in animals such as bird flu and swine flu, with increased concerns over meat safety and quality.
Source: Global Market Insights