From application in aquaculture, animal feed additives market is expected to garner considerable gains at a CAGR of over 3.5%. Moreover, demand for animal feed additives in aquaculture is estimated to exceed 155 kilo tons by 2024. Growing prevalence of variety of diseases in aquaculture has resulted in reduced production and economic losses. This is estimated to fortify demand for animal feed additives in aquaculture over the coming years.
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Rising concerns pertaining to rearing healthy livestock will boost animal feed additives market growth over the coming years. Growing consumer demand for animal-based food products for maintaining a healthy, nutrient and protein rich diet is anticipated to drive animal feed additives industry outlook over 2017-2024.
Given the surging prevalence of infectious diseases in livestock, farmers are progressively fortifying animal feed with supplementary additives, which has culminated in augmented animal feed additives market demand. Inclusion of additives in animal feed helps enhance immune response in animals, improves beneficial micro flora and feed utilization, and aids in improving pathogen resistance in animals. Improving feed efficiency results in palpable health benefits such as enhanced meat, egg and milk yield as well as quality for human consumption. Moreover, these additives assist in disease prevention and helps enhance digestion, weight gain, conversion rate and overall health of livestock.
Governments of multiple countries have undertaken various initiatives to keep a check on livestock health and immunity alarmed by disease outbreaks in livestock such as swine flu, infections, avian influenza and bird flu. For instance, the Government of China has standardized meat products in order to protect citizens from infectious animal derived food. Such initiatives are likely to positively impact animal feed additives business outlook over the analysis period.
Global animal feed additives market is slightly fragmented. Major industry players contributing towards animal feed additives market share include Novus International, Kaesler Nutrition, DSM, ADM and Kemin, Cargill. These industry players are adopting strategies such as mergers, acquisitions and partnerships along with focusing on developing application scope for products. Such measures aid them to significantly expand their production capacity, product profile and market presence.
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Amino acids market is witnessing steady demand since the product is a major component in animal nutrition. Amino acids are extensively used in aquafeed since aquatic creatures such as fish and prawns are not able to synthesize proteins into amino acids and require amino acids from external source for optimized growth performance. Extensive utilization of functional feed enriched with supplementary additives such as amino acids, pigments, enzymes and probiotics to develop pathogen resistance and boost natural defense mechanism in aquaculture may drive animal feed additives demand, thereby expanding animal feed additives market size over the projected timeframe.
From pigment animal feed segment, animal feed additives market size is estimated to gain momentously at a CAGR of more than 4.5% over the projected timeframe. The ability of pigments to improve scrumptiousness and appeal of feed will positively impact industry growth. Moreover, growing industrialization of aquaculture, pork & poultry business on a global level will fuel product demand, hence driving animal feed additives market growth over the analysis period.
China will offer lucrative growth opportunities for animal feed additives market with an estimated revenue generation of more than 4.5 billion over the analysis period. This can be attributed to supportive government initiatives coupled with increasing investments in livestock industry across the region. China is a major producer of animal feed additives and contributes majorly towards the expansion of animal feed additives market size.
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