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What is the Expected Expansion Rate of the Feed Additives Market in the 2024-2033 Forecast?

In recent years, the feed additives market has seen substantial growth. It is projected to expand from $18.65 billion in 2023 to $20.05 billion in 2024, with a compound annual growth rate (CAGR) of 7.5%. The past growth in this market is attributed to factors such as an increase in livestock production, effectiveness in feed conversion, prevention of diseases, fulfilment of nutritional needs, and a surge in meat consumption.

The market size for feed additives is anticipated to experience robust growth in the coming years. The projected size of the market by 2028 is $26.41 billion, with a compound annual growth rate (CAGR) of 7.1%. The expansion in the projected period is due to increased emphasis on animal welfare, sustainable and organic farming methods, precision livestock farming, adjustments in regulations, and the growth of the global population. Key trends during this forecast period include advances in feed additive manufacturing technology, implementing nutrigenomics in feed preparation, strategic alliances and collaborations, adherence to regulatory standards and transparency, digital transformation, and precision livestock farming.

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What Factors Are Catalyzing the Growth of the feed additives Market?

The anticipated expansion of the meat and dairy sector is set to boost the feed additives market further. Meat, classified as the flesh of creatures consumed as food, including fish and birds, alongside dairy products which consist of milk and milk-products like cheese, butter, ice cream, and so on, play an essential part in a wholesome diet. Feed additives are items integrated with animal feed to fulfill their nutritional requirements effectively. It motivates the enhanced production of meat and dairy items, aiming to upgrade the quality of animal feed and food. For example, a report issued in May 2022 by the Government of Canada official website disclosed that the per capita meat intake among Canadian consumers amounted to Can$601.1 in 2021, a surge from Can$523.9 in 2017, and is projected to ascend to Can$723.1 by 2026. Consequently, the growing prominence of meat and dairy items is spurring the growth of the feed additives market.

Which Segments Are Important in the Feed Additives Market Landscape?

1) By Product Type: Amino Acids, Phosphates, Vitamins, Acidifiers, Carotenoids, Enzymes, Mycotoxin Detoxifiers, Flavors And Sweeteners, Antibiotics, Other Products

2) By Livestock: Poultry, Ruminants, Swine, Aquatic Animals, Other livestocks

3) By On Source Type: Synthetic, Natural

4) By Form: Liquid, Dry

What Are the Groundbreaking Trends in the Feed Additives Market?

Key players in the feed additives sector are concentrating on the creation of ground-breaking products to fortify their market stance. Take Kemin Industries Inc., for example. In February 2021, this US-based specialty ingredient manufacturer for various industries including human/animal health and nutrition, pet food, and aquaculture, rolled out KemTRACE Chromium-OR. It’s a water-soluble, highly bioavailable, organic-compliant chromium propionate feed component for use in the diets of swine, cattle, broiler, and horses. This product not only enhances the preservation, reproduction, growth, and immunity of these animals, but also boosts glucose utilization, mitigates the detrimental effects of stress, thus promoting better energy and functionality at the cellular level in animals.

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What Are the Key Regions Powering Growth in the Feed Additives Market?

Asia-Pacific was the largest region in the feed additives market in 2023. The regions covered in the feed additives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The Feed Additives Global Market Report 2024 offers a comprehensive overview of the audio equipment market, covering historical data from 2010 to 2021 and providing a ten-year forecast from 2023 to 2032. This report examines the size of the feed additives market, its market share, and analyzes key competitors along with their market positions.

The Table Of Content For The Feed Additives Market Include

1. Feed Additives Market Executive Summary

2. Feed Additives Market Segments

3. Feed Additives Market Size And Template Market Growth Rate

4. Key Feed Additives Market Trends

5. Major Feed Additives Market Drivers

……

25. Key Mergers And Acquisitions In The Feed Additives Market

26. Top Feed Additives Companies

27. Feed Additives Market Opportunities And Strategies

28. Feed Additives Market, Conclusions And Recommendations

29. Appendix

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