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Unveiling trends of Animal Feed Additives Market with Growth Opportunities 2024

Author : Rahul Sankrityayan | Published Date : 2019-05-28 

Europe animal feed additives market led by Germany, France and UK should witness growth at over 3.5% owing to its strong application outlook in livestock industry. Stringent regulatory regime pertaining to ban for antibiotic growth promoters (AGPs) should bolster demand for natural growth promoters (NGPs) driving industry growth.

Growing consumer demand for meat products as a source for protein and nutrients along with rising concern towards livestock health & safety should drive animal feed additives market demand. These products act as catalyst preventing diseases, improving weight gain, digestion, conversion rate and overall health.

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The current scenario in the overall animal health space seems to be indicating that prominent behemoths in animal feed additives market are continuously involved in enhancing the quality of feed nutrition and improving feed palatability and digestibility. Feed additives are known to overcome dietary deficiencies by complementing the growth rate of animals, on the grounds of which many livestock industries have been demanding feed additives on large scale to modify animal metabolism in specific ways – say for instance, improve milk yielding efficiency in lactating animals and minimizing animal waste. The rise in demand for the product from livestock farmers to supply daily nutrition to animals is likely to boost animal feed additives industry share.

U.S. animal feed additives market should grow significantly at a rate of over 3% by 2024 due to strong demand for quality & safe meat products. Stringent food & safety regulations pertaining to standardized meat and milk products along with ban on meat and bone meal should amplify regional product demand.

Animal feed additives market demand from aquaculture application should grow steadily to surpass 155 kilo tons by 2024. Amino acids are one of the important ingredients in aquafeed additives as fish and prawns are not able to synthesize proteins into amino acids which include tryptophan, lysine, methionine, and threonine. Vitamins also form importance source of diet for shrimp & fish to enhance disease resistance and improve defense mechanism.

A brief insight into the regulatory landscape influencing animal feed additives market expansion

In a conference held in 2016 by the Management Forum on ‘A Regulatory Update on Animal Feed and Feed Additives across EU, China, and USA’, representatives from the European Food Safety Authority (EFSA) and the European Commission (EU) presented a legal framework to establish regulations regarding animal feed additives. Taking into account the food chain safety issues, these regulatory bodies claimed that the guidance documents would be periodically updated, until June 2018. The escalating intervention of authorized bodies in enhancing feed safety is thus likely to augment animal feed additives market outlook.
 
Despite the fact that technological developments have forayed in animal feed additives industry, the EFSA (European Food Safety Authority) has drafted a few guidelines regarding the risks associated with the use of nanotechnology and nanoscience in the food and feed chain that most biggies in animal feed additives market would need to adhere to. As per the report published by EFSA, the inventory and evaluation in nanotechnology applications will replace antibiotics with nanoparticles as substitutes. But, nanoparticles are not well characterized and remain underutilized for poultry feed additives. For instance, nanoparticles are used currently in most of the chicken feed, resulting in improved chicken microbiota, however, silver nanoparticles contrarily, lead to higher toxicity level in birds. In fact, players in animal feed market are significantly investigating alternatives for inorganic nanoparticles like silver in terms of organic materials such as nano-composites and nano-encapsulation.

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Positive outlook for increasing investments & financial assistance for livestock farming as supplementary business as agriculture for catering growing meat demand & supportive technological innovations in processing equipment should drive animal feed additives demand. Growing emphasis on livestock nutrition for providing quality meat products is rising to its utmost importance to support consumer health & diet which should positively influence product demand.

Global animal feed additives market share is moderately fragmented with market players including Novus International, DSM, Kaesler Nutrition, Kemin, Cargill and ADM. Companies focus in developing application scope for products along with expanding production capacity through mergers, acquisitions and partnerships. It also helps them expand their product marketing reach to various other regions.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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