Feed Additives Market worth $59.82 billion by 2029 - Exclusive Report by MarketsandMarkets
DELRAY BEACH, Fla., Jan. 15, 2025 /PRNewswire/ -- The feed additives market is estimated at USD 45.38 billion in 2024 and is projected to reach USD 59.82 billion by 2029, at a CAGR of 5.7% from 2024 to 2029, according to a report published by MarketsandMarkets.
The feed additives market represents an important role in augmenting the quality and nutrition content of animal feed in order to enhance the animals' health and productivity for the overall efficiency of animal farming. Feed additives include vitamins, minerals, amino acids, enzymes, probiotics, among many other essential nutrients, applied heavily in livestock and poultry farms for growth, strengthening of immunity, and efficient feed consumption. With the increasing demand for meats, dairy products, and other animal-based products across the world, the global feed additives market is growing increasingly. Some of the major factors contributing to such growth are awareness of improving animal health, increasing demand from customers for quality animal products, and the pursuit towards sustainable agriculture and efficient farming. The feed additives market is also expected to pick up in the future due to innovation in feed formulations and rising concern with environmental impact reduction.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=870
Browse in-depth TOC on "Feed Additives Market"
180 – Tables
80 – Figure
300 – Pages
The liquid form holds a significant share within the form sector of the feed additives market.
Liquid feed additives are becoming increasingly popular in the feed additives market due to the development of new product formulations that are expected to improve production efficiency and feed quality. For instance, in October 2022, Kemin Animal Nutrition and Health (US) launched its latest MillSAVOR Liquid and Liquid Concentrate, featuring strong surfactants to decrease surface tension in feed particles. This leads to increased milling efficiency with higher throughput and less energy consumption, which consequently increases pellet durability and starch gelatinization. Innovations like these in liquid feed additives illustrate the focus of the industry on optimizing production processes, thus increasing the nutritional quality of animal feed and further establishing the growth market share of liquid additives in the feed industry.