The feed additives market is experiencing significant growth, with a value of 38.1 billion dollars in 2021 and a projected increase to 49.6 billion dollars by 2026, demonstrating a compounded annual growth rate of 5.5%. This growth is driven by the rising demand for animal-based protein, increasing population, and growing awareness of the benefits of feed additives for animal health and growth.
The feed additives industry is on the rise, buoyed by a confluence of driving forces. The ever-increasing demand for animal-based protein, coupled with a burgeoning global population, has shed light on the positive impact of feed additives on animal health and growth. Furthermore, advancements in production techniques and a shift towards precision livestock farming, along with government backing, are propelling the market forward. The Asia Pacific region stands out as the leader, with a vast and rapidly growing livestock population, and a surge in feed mill and production numbers, especially in countries like India and Japan.
The feed additives market is defined by several defining traits, such as the growing recognition of animal health, the surging demand for animal-based protein, the imposition of stringent regulations, and the advances in technology and precision farming practices. As awareness of the importance of animal welfare grows, so does the use of feed additives to promote healthy growth and development. Meanwhile, the increasing demand for animal protein fuels the market’s growth, while regulations ensure its safety and efficacy. At the same time, technological innovations bring new and more effective feed additives to the forefront, while precision farming methods allow for a more targeted approach to animal nutrition.
The Asia Pacific region accounted for the largest share in the global market, in terms of value. The market in the region is driven by the presence of a large livestock population and their growth rate. Furthermore, the region has witnessed an increase in the number of feed mills and feed production, particularly in countries such as India and Japan. This increase in the number of feed mills in the region reflects the growth in feed production. The largest feed producer, China, contributes significantly to the region’s leading position, with Thailand and Indonesia being the emerging feed-producing countries, while India and Japan demonstrate constant growth in feed production.
