Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
The outbreak of COVID in the Animal Feed Additives Market caused distribution since it spread was across the globe. COVID-19 impacted the various sector and industries. Due to the COVID-19 pandemic, the demand for food has been rising but due to the supply chain disruption stopped producers to supply their products to the market. Moreover, the disruptions in the supply chains are causing wastage of fresh produce, even though there is a high demand for products. The huge COVID-19 impact faced by poultry industries as rumors are spread all over the world by consuming meat and meat products coronavirus is spreading. The shutdown of economic activities affected all the agriculture sector. Due to transportation barriers, Animal feed additive market demand is reduced. The export of beef and chicken meat has been reduced due to the emerging concern from the spread of the COVID-19 pandemic. In the first quarter of 2020, the pandemic has dampened the demand for animal protein, subsequently affecting the animal feed market.
Feed additives increased feed nutritional quality is a key factor in increased demand for animal feed additives. Growing demand and consumption of livestock-based products like dairy and dairy-based products, meat is driving the growth of the feed additives market. Increased concern for protein-based food consumption among consumers increased demand for poultry food products owing to its low product prices. Owing to the rise in demand for processed meat, which ultimately increased the consumption of feed additives is another factor boosting the demand for animal feed additive market. Further, with increased awareness of food nutrients on physical and mental development, there is a growing demand for animal-sourced protein.
The European Union banned feed-grade antibiotic growth promoters, due to the risk posed to European's food safety and health. An increasing shift toward antibiotic-free meat increases the demand for use of probiotics in animal feed. Due to this, manufacturers are started adopting natural feed additives with help of modern science. These natural feed additives include botanical additives like plant extract or a blend of herbs. These plant products have broad antimicrobial activity and sedative properties. These extracts used as feed additives include different bio-ingredients such as alkaloids, flavonoids, glycosides, and tannins.
Increased government regulation for use of certain synthetic additives restricts the market as an increase in production of natural additive feed. Due rising population and demand for food, the industry faces pressure in collecting raw feed. Raw materials like feed acids, antioxidants, and vitamins extraction costs have increased another reason restraining additive market growth.
The report provides an in-depth analysis of the global Animal Feed Additive market, market size, and compound annual growth rate (CAGR) for the forecast period of 2022-2028, considering 2021 as the base year. With the increasing demand for meat and meat products has led to the increasing demand for the market and is expected to witness growth at a specific CAGR from 2022-to 2028.
Rising Government policies for quality of livestock products and increasing antibiotic-free meat products. As price raw material extraction to develop probiotic animal feed is another challenge faced by manufacturers. The global feed additive market is mainly focusing on improving feed conversion rates. The feed and livestock industries can achieve sustainability by developing a harmonized environmental footprint methodology based on involving the entire chain.
The Global Animal Feed Additive Market is segmented into, additive type, form, livestock, and geography.
Based on the additive type market is segmented into, Amino Acids, Antioxidants, Feed Enzymes, Vitamins, Minerals, Antibiotics & Others. The amino acids segment holds the largest share in the market. Amino acids are essential for building blocks for proteins and also essential for fluids. Also, it helps to promote reproduction and the overall health of animals. In addition to being building blocks of body proteins, amino acids play a significant role in various important biochemical and metabolic processes in the cells of animals. So, from growth to production and reproduction amino acids play a large part in the productivity of farm animal.
Based on form animal feed additive market is segmented into dry, liquid, and others. The dry form of the additive segment commanded the largest share in the market. The dry form of animal additive form is easy to mix with feed and is easy to store and handle. Dry form feed additive availability in pellets and mash forms. Feed pellets are conversion of finely ground mash feed into dense, free-flowing pellets in a process that involves steam injection and mechanical pressure. Feeding animal pelleted feed has several advantages over any other form of feed.
On the basis of livestock animal feed, the additive market is segmented into swine, ruminants, poultry, aquatic animals, and others. The poultry segment accounted for the largest share of the animal feed additive market. Increased demand for protein food created a demand for poultry. Increasing population and rising individual consumption created a demand for poultry and eggs. Increase demand, low production cost, and lower product prices both in developed and developing countries driving demand for the poultry segment.
The animal feed additive market is based on geography segmented into North America, Asia-Pacific, Europe, and the Rest of the World. The Asia-Pacific region accounted for the largest share of the global market. The countries like China, Japan and Australia driving demand for poultry meat. An increase in the number of feed mills and feed production in countries such as India and japan drives the animal feed additive market in this region. The key players of Asia-Pacific regions have increased investment in R &D and for expanding their production base. The increased livestock population and their growth rate is another factor driving the growth of the animal feed additive market. In addition, growing concern for the quality meat & meat-related products majorly driving the growth of feed additives in the Asia-pacific Market.
The competitive landscape analysis of the animal feed additive market is certainly based range of market players operating in the agriculture market. The animal feed additive market is highly competitive due to the presence of a large number of players in the market. The demand for the animal feed additive Market has increased so the key players are working hard to increase their market value to raise their company presence globally.
Key players in this market include Cargill, ADM, Dupont, Evonik, BASF, DSM, Ajinomoto, Novozymes, Chr Hansen, TEGASA, Nutreco, Kemin Industries Inc., Adisseo, Alltech, Palital Feed Additives B.V., Global Nutrition International, Centafarm SRL, Bentoli, NUQO Feed Additives, and Novus International Inc., and among others.
February 2021: Kemin Industries launched a new product named KemTRACE Chromium-OR, an organic compliant chromium propionate feed ingredient for swine, cattle, broiler, and horse diets.
July 2020: ADM launched NutriPass L, an encapsulated lysine supplement that is rumen-stable and intestinally available to cows. Through effective encapsulation, NutriPass supplies a consistent and stable supply of metabolizable lysine for lactating cows and growing cattle.
February 2021: Alltech and DLG Group came together to focus on delivering profitability and efficiency to livestock producers in Scandinavia. Both the companies are finalizing the purchase of the Finnish company, Kärki-Agri.
November 2020: Evonik expanded its customer service offering for its animal nutrition customers by introducing a new digital portal called ‘myAMINO.’ Through this portal, the company has brought together its digital customer activities and services and added two web stores. It would help the company to strengthen its animal nutrition business.
Additives are the components critical for the enhancement of performance as well as the health of the animals. Increasing food demand due to the growing population is a major factor creating opportunities for the animal feed additive market. This market is segmented based on additive type, form, livestock, and Geography. The Amino Acids segment based on additive type commanded the largest share in the animal feed additive market. Based on the form of animal feed additive market dry form of additive segment commanded the largest share in the market. The animal feed additive market on the basis of the livestock poultry segment accounted for the largest share. The demand for nutritious feed helps to improve ruminant health. The Asia-Pacific region accounts for the largest share of the animal feed additive market as the rising consumption of protein food.
Which region is accounted for the largest share in the Animal Feed Additive market?
Ans: - Asia-Pacific accounted for the largest share in the animal feed additive market due to the adoption of new technologies.
Who are the key players in the animal feed additive market?
Ans: - Cargill, ADM, Dupont, Evonik, BASF, DSM, Ajinomoto, Novozymes, Chr Hansen, TEGASA, Nutreco, Kemin Industries Inc., Adisseo, Alltech, Palital Feed Additives B.V., Global Nutrition International, Centafarm SRL, Bentoli, NUQO Feed Additives, and Novus International Inc., and among others.
How would COVID-19 impact the animal feed additive market?
Ans: - The huge COVID-19 impact faced by poultry industries as rumors are spread all over the world by consuming meat and meat products coronavirus is spreading. The shutdown of economic activities affected all the agriculture sector. Due to transportation barriers, Animal feed additive market demand is reduced.
