The size of animal feed additives market is estimated to touch USD 21 billion till 2022 with an annual growth rate of 3.7% as per the study done by Global Market Insights. And this fuelling trend is because of change in eating habits and population growth all over the world. For satisfying global needs of food, production of livestock such as poultry, swine and cattle has been accelerated which in turn has boosted animal feed additives market trend. Increase in income in Asia Pacific and Latin America has contributed to the growth in consumption of meat, thereby augmenting additives market for livestock feeding.
The per capita consumption of milk and meat has been increasing especially in countries like China along with India. Animal feed sector in India was $15 billion in 2015 and is anticipated to double in the next 5 years.Standardization in meat products has been preferred because of disease like SARS which is going to expedite the feeding market. Supplements like amino acid, antioxidants and antibiotics will raise the level of immunity in animals. Amino acid additive touched USD 5.3 billion in the year 2014 along with market of feed enzyme which is likely to capture animal supplement market till 2022.
Europe animal feed additives market size, by product, 2012-2022 (USD Million)
In the year 2014, poultry feeding market touched USD 6 billion. Emergence of diseases like bird flu has boosted the demand of superior quality meat along with the awareness regarding supplements catered to the animals. This has obviously speed up the feeding market. Along with poultry, pork production has also noticed 27% of overall revenue in the year 2014. Awareness towards infections in animals is anticipated to have a thriving demand of pork meat. However, pork market will receive average response because of its ban in countries like Saudi Arabia, Qatar, UAE, Pakistan and Bangladesh because of religious reasons.
While considering regional growth, China has dominated the market. It crossed USD 5.1 billion in the year 2014 and is the biggest producer and purchaser of animal food worldwide. This country is noticing import of meat along with raw material used for its production and all this is happening because of change in lifestyle and financial conditions. Other countries expecting growth in this market till 2022 are India, Indonesia, Malaysia, Philippines and Thailand. Also, Latin America countries like Brazil and Argentina are focusing on animal meat as a package of protein with Brazil bypassed 8% of overall revenue in the year 2014.
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Written By : Dhananjay Punekar