Emergence of infectious diseases in livestock has led to increase in incorporation of supplementary additives in feed which would enhance immune response, feed utilization and improve beneficial micro flora thereby developing pathogen resistance should drive animal feed additives market. Government initiatives mainly in China to standardize meat product and protect human health from infectious animal derived food may favor market growth. Animal Feed Additives Market may surpass USD 25 billion by 2024; according to a new research report.
Growing demand for animal based food products to improve protein content in diets may further fuel animal feed additives demand. It helps in improving feed efficiency which enhances milk, meat and egg yield along with quality for human consumption, thereby contributing towards industry growth.
Stringent regulatory amendments regarding antibiotics ban as feed additives due to their ill effects on animals as well as humans has promoted use of natural growth promoters including amino acids, vitamins, probiotics, antioxidants, pigments, enzymes and flavors which may stimulate industry growth. It also provides additional benefits like reduction in feed cost, minimal veterinary cost due to diseases and growth performance in young animal with no residues in animal based products. These benefits have shifted focus towards natural growth promoters which is likely to boost animal feed additives demand.
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U.S. feed amino acid additives market may surpass USD 2.85 billion by 2024. It improves animal growth performance and enhance protein content in food animals. Shifting trends towards healthy eating habits accompanied with consumer inclination towards high protein diets for muscle building and health management may favor industry growth.
Animal feed additives market from vitamins market may account for over 3% at the end of 2024. Vitamins are indispensable substances for normal metabolic process of animals. It is essential for proper growth, immune defense and reproduction. Vitamin E is also used as natural antioxidant to maintain feed and meet quality along with shelf life.
Strict regulatory standards pertaining to labelling and registration of feed additives mainly for European market is likely to hamper industry profitability along with incurring additional compliance cost thereby affecting animal feed additives market price trend. Moreover, supplementary products like probiotics, enzymes, amino acids which are produce from fermentation may pose a risk of endotoxins may challenge industry growth.
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Animal feed additives market from aquaculture may witness gains at over 3.5%. Growing incidences of economic losses and reduced production due to variety of diseases in aquaculture has promoted use of functional feed fortified with supplementary additives such as probiotics, amino acids, pigments and enzymes to boost natural defense mechanism and develop pathogen resistance may drive animal feed additives demand.
China animal feed additives market may surpass 4.5 billion up to 2024. Increasing investments in livestock industry supported by government assistance may positively favor regional industry growth. China is a major producer for animal feed additives which act as another driving factor for industry growth.
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Global animal feed additives market is consolidated and highly competitive with key players include ADM, Impextraco, DSM, Cargill, Kaeslar, Nutreco, Miavit, Lucta, Novus International, BASF, Biomin, Dr. Eckel and Kemin Industries.
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