Insights into the Global Nutritional Feed Additives Market 2023: Size, Drivers, and Trends
The latest market sizing information for the year 2023 and forecasts up to 2032 are now available in The Business Research Company’s global market reports.
According to The Business Research Company’s Nutritional Feed Additives Global Market Report 2023, the nutritional feed additives market is poised for significant growth in the forecast period.
Key insights from the nutritional feed additives market forecast include:
- Market Size
The global nutritional feed additives market is projected to increase from $3.89 billion in 2022 to $4.19 billion in 2023, with a compound annual growth rate (CAGR) of 7.6%. The market size is anticipated to reach $5.41 billion by 2027, maintaining a CAGR of 6.6%.
- Major Driver
The surge in meat consumption is a primary driving force behind the nutritional feed additives market. Heightened meat consumption has led to a greater focus on high-quality meat production. To ensure the delivery of premium meat quality, animals are provided with supplementary nutrition feed additives. These additives enhance digestion, promote muscle growth and weight gain, ultimately increasing productivity and demand for nutritional feed additives. Notably, the United States alone consumes over 100 billion pounds of meat and poultry annually.
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- Key Trend
Manufacturers of feed additives are investing in the research and development of organic feed additives, given the escalating demand for organic and natural feed products in the nutritional feed additives market. For instance, Agpulse Organics has introduced ‘Govahnika-Biosheera,’ an herbal animal feed additive designed to enhance milk productivity while maintaining cattle health and milk quality.
- Largest Region
In 2022, North America emerged as the largest region in the nutritional feed additives market.
- Major Players
Prominent participants in the nutritional feed additives market include BASF SE, Cargill, Archer Daniels Midland Company, Evonik Industries AG, Nutreco N.V., Kemin Industries Inc., Adisseo, Alltech, Phibro Animal Health Corporation, and DowDuPont.
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Key Nutritional Feed Additives Market Segments
1) By Distribution Channel: Direct, Indirect, Hypermarket/Supermarket, Specialty Stores, Online Retail
2) By Livestock: Ruminants, Poultry, Swine, Aquatic
3) By Additive Type: Antibiotics, Vitamins, Antioxidants, Amino Acids, Enzymes, Mycotoxin Detoxifiers, Prebiotics, Probiotics, Flavors And Sweeteners, Pigments, Binders, Minerals
4) By Form: Dry, Liquid, Other Forms
The Nutritional Feed Additives Global Market Report 2023 provides an extensive analysis of market size, trends, drivers, opportunities, strategies, and company profiles. The covered countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, across regions like Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
View More Related Reports –
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Probiotics In Animal Feed Global Market Report 2023
Animal Growth Promoters And Performance Enhancers Global Market Report 2023
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