Animal Feed Additives Market
Additives are natural or chemical substances added to preserve or improve the quality of food or a product. Feed additives are additives, specifically used in animal nutrition, to enhance the feed quality, digestibility in order to prevent diseases and improve quality of meat or food obtained from animals.
Farm animals are provided with a variety of additives such as sensory additives, nutritional additives, zootechnical additives, and coccidiostats and histomonostats. Sensory additives help stimulate the appetite of animals, allowing them to eat more; while nutritional additives provide specific nutrients to nutrient-deficient animals. Zootechnical additives are added to the feed to improve health and performance of animals, and coccidiostats and histomonostats are antibiotics used to prevent bacterial and microbial growth in the feed. Stringent regulations by the European commission have banned the use of coccidiostats and histomonostats, replacing them with probiotic alternatives. Regulation (EC) No 1831/2003 of the European Parliament and of the Council on additives for use in animal nutrition, banned coccidiostat on December 31, 2012. This has prompted various developments to find natural alternatives to coccidiostats in histomonodial and anticoccidial drugs, which help control Eimeria infections. Some of the recent discoveries are the use of vaccines and other alternatives such as sulfonamide, nicarbazin, and amprolium. Unattenuated vaccines such as Coccivac, Advent, Immucox, and Inovocox, and attenuated vaccines such as Paracox and HatchPak CocciIII are widely used. Consumption of livestock such as poultry, swine, and cattle is growing as it constitutes a protein rich diet. This is expected to drive growth of the global animal feed additives market in the near future. Feed additives are increasingly being used to meet the nutritional levels required for metabolism that enables weight gain of the animal, and prevents consumers from diseases such as bird flu and swine flu. This, in turn is a driving factor for the global animal feed additives market growth.
The animal feed additives market is expected to exhibit a CAGR of 2.7% in terms of revenue over the forecast period (2019-2027). Among product types, the antibiotics market was valued at US$ 2,462.9 million (revenue) in 2018, which is expected to expand at a CAGR of 1.8%,
Europe, followed by the Asia Pacific and North America, respectively, accounted for a major share in the global animal feed additives market in terms of revenue, in 2018 and the trend is estimated to remain the same over the forecast period. In 2018, Western Europe held a share of 27.0% in terms of revenue, followed by North America (23.1%). The growing consumer knowledge for quality meat and protein intake in Asia Pacific due to rising consumer awareness coupled with the meat industry is expected to drive the growth of the global animal feed additives market over the forecast period. The enzymes segment in the global animal feed additives market is expected to witness a CAGR of 2.8% from 2019 to 2027.
Asia Pacific is expected to be the most lucrative market during the forecast period, due to increase in grain demand for food production with low availability of land and water resources has resulted in the growth of the meat industry, which is expected to affect the animal feed additive in the global market. The feed additives acts as a catalyst which prevents diseases in animals and improves the vitamin intake, weight gain, digestion, and enhance the quality of meat. Owing to these factors and to control diseases such as avian influenza and bird flu, the addition of feed additives is expected to drive the global animal feed additive market over the forecast period.
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