iCrowdNewswire Jan 21, 2021 4:18 PM ET
The global feed additives market has witnessed a constant demand during the last few years and is projected to reach USD 39,432.9 million at a CAGR of 5.96% by 2023. Feed additives are substances for farm animals used to enhance the quality of animal nutrition as well as improve the nutritional properties of animal fodder. Feed additives are either natural or chemical additive, which improves the feed performance when added, as they offer additional nutrients such as minerals and vitamins to the animal feed. Along with improving the feed quality, they also improve animal health by reducing livestock diseases.
Moreover, leading players are also focusing on partnership with various research institutions and other associations to develop the products which meet consumer’s demands. The initial investments in the feed additives market are high due to high the raw material costs, certification cost, and approval from the feed additive regulating authorities. Also, the revenues are high as demand and population of livestock is increasing in various regions.
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Leading Key Players
The key players profiled in Feed Additives Market report are Archer-Daniels-Midland Company (U.S.), Evonik Industries (Germany), Cargill Inc. (U.S.), BASF SE (Germany), Adisseo France SAS (France), Alltech, Inc. (U.S.), and Danisco A/S (Denmark) among many others.
The Global Feed Additives Market has been divided into type, form, livestock, and region.
On The Basis Of Type: Amino Acids, Vitamins, Carotenoids, Enzymes, Prebiotics, Acidifiers, Minerals, Lipids and Others
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In Europe region, EU regulations engages in management and control of feed additives used in animal nutrition. EU regulations clearly indicates that new feed additives can be approved authorization only when it is sanctioned by a scientific evaluation by the European Food Safety Authority (EFSA). Regulation 1831/2003 controls use for additives and provisions on the labelling of feed additives or premixes of additives. EU Regulation 767/2009 may also include additional labelling requirements of additives used in the feed. Additionally, the rules set by Ministry of Agriculture is also strictly followed by the feed manufacturers in China.
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