Consumption of Animal Feed Additives is set to Rise by 5.2% Over 2031, with Extensive Demand from Poultry and Aquaculture Sector

The aquaculture market is growing due to rising urbanization and increasing individual income, resulting in high consumption of protein-rich meats. Change in customer preference for seafood as a source of protein has boosted demand for unusual fish species, raising overall seafood demand, thereby driving the sales of animal feed additives.

Mergers, collaborations, expansion, and investments are taking place in this marketplace at a rapid pace. Some of the key market developments are:

In 2019, Archer Daniel Midland opened an advanced livestock feed facility in Hoa Mac, Vietnam. This facility will produce feed for swine, poultry, and rabbits. It will further strengthen the company's industrial and commercial coverage in the Vietnamese feed market and expand its business in the region.

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In 2018, Koninklijke DSM N.V. set aside US$ 3 Mn to expand its nutrition business and maintain its profit growth with focus on cost control and operational excellence The company strategizes to expand its nutrition business owing to increased customer centricity for nutrition in both, animals and humans.

 Key Takeaways from Market Study

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"Animal feed additives provide a variety of functions, including improved gut health, food intake, reproduction, and metabolic process, thereby driving market growth," says a Persistence Market Research analyst.

Competitive Landscape

Animal feed additives manufacturers are focusing on increasing their application by investing in research & development to develop new products. Manufacturers of animal feed additives are expected to continue coming up with numerous innovations to expand their product range.

In 2019, Archer Daniel Midland expanded its research & development capabilities with the opening of a new animal nutrition technology center in Decatur, U.S., to serve the needs of the broad animal nutrition market. This new technology center will put efforts toward improvement of ingredients and nutritional solutions for pet food, pet treats, and aquaculture feed.

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Explore More Valuable Insights

Persistence Market Research, in its new report, offers an impartial analysis of the global animal feed additives market, presenting historical data (2016-2020) and estimation statistics for the forecast period of 2021-2031.

The study offers compelling insights on the basis of type (amino acids, vitamins, phosphates, enzymes, mycotoxin binders, antibiotics, minerals, antioxidants, probiotics, non-protein nitrogen, and phytogenics), source (plants, animals, and microorganism), form (powder, granules, and liquid), and livestock (ruminants, poultry, swine, aquaculture, and pet animals), across seven major regions of the world.

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