Feed Additives - Market Insights, Competitive Landscape, and Market Forecast - 2030

The global feed additives market was valued at USD 34.82 billion in 2023, growing at a CAGR of 4.11% during the forecast period from 2024 to 2030 to reach USD 46.09 billion by 2030. The demand for Feed Additives is primarily being boosted by the growing demand and consumption of livestock-based products for health benefits, increasing focus on animal health and nutrition and rise in global demand for naturally produced feed and feed additives, during the forecast period from 2024 to 2030.

Feed Additives Market Dynamics:

According to the agricultural outlook published by OECD/FAO (2023), global meat production is expected to increase by a further 12% between 2022 and 2032. Poultry production will show the greatest growth globally (13%), with poultry accounting for half of the additional meat production in the next 10 years.

According to the same source mentioned above, meat consumption per capita is predicted to increase by 2% globally in the next 10 years with most of the growth occurring in low- and middle-income countries. Poultry will show the greatest increase and will provide 41% of protein from meat sources in 2032.

So, the increasing demand and consumption of animal-based products, rising global population, and rising income levels, particularly in developing regions, have led to a surge in demand for protein-rich foods like meat, eggs, and dairy products. This drives the demand for feed additives to enhance the efficiency of animal production.

On the other hand, the growing investments in setting up new production facilities across the world to meet the increasing demand for animal feed globally is another significant reason for the growth of the feed additives market. For example, in February 2023, ADM opened its new state-of-the-art production facility in Valencia, Spain, with an investment of USD 30 million. This investment was made to meet global demand for probiotics, from various end-uses such as animal feed, human nutrition & wellbeing.

Thus, due to the interplay of all the above-mentioned factors, the demand for Feed Additives will increase, thus resulting in the overall growth of the Feed Additives market.

However, the volatile raw material prices for feed additives and the shift toward plant-based products may act as factors that are expected to limit the growth of the Feed Additives market.

Feed Additives Market Segment Analysis:

Feed Additives Market by Product (Amino Acids, Phosphates, Vitamins, Enzymes, Probiotics, and Others), Animal (Poultry, Ruminants, Swine, and Others), Form (Dry and Solid), Source (Natural and Synthetic), and Geography (North America, Europe, Asia-Pacific, and Rest of the World)

In the product segment of the feed additives market, the amino acids category is estimated to amass a significant revenue share in the feed additives market in 2023. This can be attributed to its ability to build immunity and promote animal growth. It aids in preventing nail and skin problems in animals. Furthermore, it plays an important role in preventing cerebral dysfunction, which can cause muscular incoordination in animals. Thus, amino acids are projected to have a high demand from the product industry as a feed supplement, as well as a pet food ingredient.

Moreover, the proper balance of amino acids in the regular diet feed is crucial for optimal animal performance. Insufficient quantities of these amino acids can lead to complications in meat and egg production, as well as the quality of meat produced. Amino acid additives provide flexibility with feed ingredients, enabling companies to gain more profit. These amino acids also compensate for certain amino acid deficiencies caused by cheaper alternatives. The amino acids predominantly added to feed are L-methionine, L-valine, L-lysine, L-tryptophan, L-thionine, and L-arginine.

Moreover, the growing product launches by the key players are anticipated to spur growth in this segment. For instance, in May 2023, Evonik launched an updated Biolys® product for animal feeds. Biolys® formulation contains 62.4 percent L-lysine (an 80 percent ratio to Lysine HCl) compared to the current version’s 60 percent L-lysine (a 77 percent ratio to Lysine HCl). This allows our customers to meet their animals’ requirements for the essential amino acid L-lysine even more efficiently.

Thus, given the ongoing product launches, and various advantages offered by amino acids, this category is poised to propel the overall growth of the Feed Additives market during the forecast period.

Asia Pacific Is Expected To Dominate The Overall Feed Additives Market:

Asia Pacific is expected to account for the highest proportion of the feed additives market in 2023, out of all regions. This is due to the presence of an abundant livestock population along with the presence of various agriculture economies, leading to increased demand for animal protein such as meats, eggs, and dairy. This surge in demand has driven substantial growth in the livestock industry, thereby fueling the need for feed additives to enhance animal health, growth, and productivity are some of the key factors driving the growth of the feed additives market in Asia Pacific.

Furthermore, APAC countries like China, India, and Southeast Asian nations have vast agricultural sectors, with significant livestock populations. This creates a substantial demand for feed additives to improve animal health, growth, and productivity. Also, the rising population and increasing disposable incomes in many Asia Pacific countries have led to a growing demand for meat and dairy products. This surge in demand for animal-derived products has driven the need for efficient and high-quality animal nutrition, thereby propelling the adoption of feed additives.

In addition, numerous Asia Pacific governments are providing subsidies under their development schemes to boost the production of animal feed, its additives, and livestock. For example, the Dairy Development Department of the Department of Animal Husbandry and Dairying (DAHD), Government of India has outlaid plans for the “Cattle Feed Subsidy Scheme” with a total plan outlay of INR 500 Lakhs. Thus, the rising initiative by various APAC countries will eventually drive the overall market for feed additives in Asia Pacific during the forecast period.

Feed Additives Market Key Players:

Some of the key market players operating in the Feed Additives market include ADM, Ajinomoto Co., Inc., Alltech, BASF SE, DSM, Cargill, Incorporated., Centafarm SRL, Chr. Hansen A/S, Evonik Industries AG, International Flavors & Fragrances Inc., Kemin Industries, Inc., Novozymes A/S, Novus International, Inc., Olmix., Solvay, DuPont., Adisseo, Amlan International., Biochem Zusatzstoffe Handels- und Produktionsgesellschaft mbH, OCP, and others.

Recent Developmental Activities In The Feed Additives Market:

• In July 2023, Olmix acquired Yes Sinergy to reinforce its animal care portfolio. Through this transaction, Olmix pursued global expansion and established itself as a major provider of bio-sourced solutions.
• In June 2023, Alltech launched Triad, an innovative solution designed to enhance pig livability and promote successful farrowing. Triad combines a flavorful mixture of Alltech's leading ingredients.
• In May 2023, Kemin Food Technologies commenced the opening of BITEPod, its premier center for food advancements across Asia. The main objective of this establishment is to create prototypes and enhance formulations within the food and beverage domain.

Key Takeaways From The Feed Additives Market Report Study

• Market size analysis for current Feed Additives Market size (2023), and market forecast for 6 years (2024 to 2030)
• Top key product/technology developments, mergers, acquisitions, partnerships, and joint ventures happened over the last 3 years
• Key companies dominating the global Feed Additives market.
• Various opportunities are available for the other competitors in the Feed Additives Market space.
• What are the top-performing segments in 2023? How these segments will perform in 2030?
• Which are the top-performing regions and countries in the current Feed Additives market scenario?
• Which are the regions and countries where companies should have concentrated on opportunities for Feed Additives market growth in the coming future?

Target Audience Who Can Be Benefited From This Feed Additives Market Report Study

• Feed Additives product providers
• Research organizations and consulting companies
• Feed Additives-related organizations, associations, forums, and other alliances
• Government and corporate offices
• Start-up companies, venture capitalists, and private equity firms
• Distributors and Traders dealing in Feed Additives
• Various end-users who want to know more about the Feed Additives Market and the latest developments in the Feed Additives Market.

Frequently Asked Questions For The Feed Additives Market:

1. What are Feed Additives?

Feed additives are substances added to animal feed to enhance its nutritional value, improve animal health, optimize growth, or aid in the production process. They can come in various forms, including vitamins, minerals, amino acids, enzymes, probiotics, prebiotics, antioxidants, and flavoring agents.

2. What is the market for Feed Additives?

The global feed additives market was valued at USD 34.82 billion in 2023, growing at a CAGR of 4.11% during the forecast period from 2024 to 2030 to reach USD 46.09 billion by 2030.

3. What are the drivers for the global Feed Additives market?

The Feed Additives Market is slated to witness prosperity owing to the increasing demand and consumption of animal-based products, rising global population, rising income levels, and increasing awareness about feed quality particularly in developing regions during the forecast period from 2024 to 2030.

4. Who are the key players operating in the global Feed Additives market?

Some of the key market players operating in the Feed Additives include ADM, Ajinomoto Co., Inc., Alltech, BASF SE, DSM, Cargill, Incorporated., Centafarm SRL, Chr. Hansen A/S, Evonik Industries AG, International Flavors & Fragrances Inc., Kemin Industries, Inc., Novozymes A/S, Novus International, Inc., Olmix., Solvay, DuPont., Adisseo, Amlan International., Biochem Zusatzstoffe Handels- und Produktionsgesellschaft mbH, OCP, and others.

5. Which region has the highest share in the global Feed Additives market?

Asia-Pacific is expected to dominate the overall Feed Additives market during the forecast period from 2024 to 2030. This is due to the presence of an abundant livestock population along with the presence of various agriculture economies, leading to increased demand for animal protein such as meats, eggs, and dairy. This surge in demand has driven substantial growth in the livestock industry, thereby fueling the need for feed additives to enhance animal health, growth, and productivity are some of the key factors driving the growth of the feed additives market in Asia Pacific.


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