The "Global Animal Feed Additives Market" value is anticipated to reach USD 23.81 billion by 2025, according to a new report by Hexa Reports. Globally increasing meat consumption has been a major factor driving market growth. In addition, growing consciousness regarding the advantages of these products along with the recent outbreak of diseases has led to the increased utilization of additives in animal feed.
These are essential components for the improvement of overall animal health and performance which are indirectly impacting the characteristics of human food products. Consumption of foodstuff containing the appropriate quantity of accompaniments exert beneficial effects upon animals such as improvement in digestion and conversion. This, in turn, has a positive economic impact on the profitable production of food products for the human population.
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Amino acids were the largest product category in 2015 .and is expected to maintain a comparatively low growth rate over the forecast period. Lysine was the major amino acid consumed with a share of over 67% in 2015.
Feed acidifiers are expected to observe the fastest growth over the next nine years with an estimated CAGR of around 6.4% from 2016 to 2025. It has been evident that acidifiers are instrumental in increasing the shelf life of fodder, which further helps in minimization of the overall feed cost, thus driving its market. In addition, increasing usage of feed acidifiers in the U.S. and Europe owing to ban on antibiotics is also expected to boost its demand over the forecast period.
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Further key findings from the report suggest:
• Poultry emerged as the largest livestock segment in 2015 and is estimated to generate revenue over USD 5.7 billion by 2025
• Global animal feed antibiotics demand in aquaculture was USD 4.45 billion in 2015 and is anticipated to witness staggered growth over the next nine years
• The U.S. foodstuff acidifiers market in cattle livestock was 613 tons in 2015 and is estimated to reach a total volume of over 1,090 tons by 2025
• The industry in Asia Pacific is projected to witness substantial growth over the next decade owing to various developments across major economies, especially in the processed meat and dairy products market. The regional market is expected to grow at a CAGR of 3.8% from 2016 to 2025
• Key players including BASF, DSM, Evonik, Elenco, Novozymes, Cargill, and Danisco dominated the global animal feed additives market while accounting for over 60% of the total volume in 2015
Browse More Pet Food Related Market Research Reports:
• Global Poultry Feed Premix Sales Market Report 2017 - http://www.hexareports.com/report/global-poultry-feed-premix-sales-market-report-2017
• Global Silage Enzymes Sales Market Report 2017 - http://www.hexareports.com/report/global-silage-enzymes-sales-market-report-2017
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