Feed Additives Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

The global feed additives market is projected to grow at a CAGR of 5.4% during the forecast period (2022-2027).

As the respective governments across the globe implemented stay-at-home orders, many farmers resorted to panic buying of animal feed in the anticipation of potential shortages. Key stakeholders in the livestock feed market are worried about the lack of procuring the raw materials or the feed additives for manufacturing the compound feeds. However, with the lockdown phases being frequent, the respective governments have taken measures to address the smooth flow of raw material movements within the agricultural sectors including compound feed manufacturing facilities which is anticipated to boost the market.

High awareness, the growing demand for animal nutrition, and the ban of antibiotics in many regions are prompting players in the livestock industry and meat manufacturers to use probiotics, which is anticipated to drive the feed additives market, globally

Food safety has become a paramount issue for many governments around the world, especially in North America and Europe. Livestock production across all countries and all animal groups have been growing to support the needs of the changing diet patterns of the populations, particularly in the developing markets. The livestock sector in the global market, especially in Asia-Pacific, is increasingly becoming industrial, with a large number of farmers remaining small and marginal in countries like India and China.

Key Market Trends

Increasing Industrial Livestock Production

The growing demand for livestock products has been driving significant changes on the supply side that are aimed at improving livestock product yields. New capital-intensive technologies have made the production of poultry and pig meat in industrial-style production facilities possible across regions, such as North America, Europe, and Asia-Pacific, especially in countries where land is limited.

According to FAO, the global cattle population has been witnessing an upward trend over the past four years. In 2017, the livestock population for animals such as cattle was 1.6 billion in 2017 which increased to 1.7 billion in 2020, which demonstrates that the production of cattle has been rising to meet the accelerating demand for meat. Similarly, the poultry and sheep stocks have also shown a significant increase during the study period.

The meat production industry is witnessing an upward trend in recent past years, especially, in developed countries, such as the United States, and European countries with reduced land usage. Thus, the inflating demand for meat is expected to compel producers to higher productivity which would in turn aid the demand for feed additives during the study period.

Asia-Pacific Dominates the Market

Poultry feed additives hold one of the largest shares in the global feed additives market, owing to the heavy demand for poultry meat augmented by the consumption of processed poultry in countries, such as China, India, and Australia. In 2018, the Chinese government launched a pilot program to eliminate the use of antibiotics in livestock feed by 2020.

Competitive Landscape

The global feed additive market is fragmented in nature. Evonik Industries, Bluestar Adisseo Co. Ltd, BASF SE, Cargill and Alltech are some of the major players in the global feed additives market. These companies majorly focus on expanding their businesses and undertaking strategies, such as mergers and acquisitions, expansions, and novel product innovations.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

This product will be delivered within 2 business days.