New York, United States , May 15, 2023 (GLOBE NEWSWIRE) -- The Global Feed Preservatives Market Size is to Grow from USD 4.7 Billion in 2022 to USD 8.9 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 6.5% during the projected period. Rising demand for livestock feed, as well as the increased number of animals required to meet rising demand for animal-based goods such as milk, eggs, and meat, are expected to drive the global feed preservative market during the forecast period.
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The feed preservatives industry refers to the additives used to keep animal feed fresh and nutritionally balanced. Feed preservatives help to improve livestock health and productivity, which in turn improves the quality of meat and dairy products. Feed preservatives are used to improve the nutritional value of livestock while also protecting it from microbial contamination, thereby extending the item's lifespan. Growing food safety concerns, as well as rising meat consumption worldwide, are driving up demand for feed preservatives.
To strengthen their market position and expand their product portfolios, the key players in the feed preservatives market are implementing various growth strategies such as mergers and acquisitions, collaborations, and new product launches. For example, Volac, a UK-based company, introduced an entirely new feed additives division in March 2023 to help the international feed industry increase efficiency and meet the Net Zero challenge. Their top priority continues to be to provide technical advice, innovative products, and added-value services that assist the feed industry in improving livestock farming efficiency and sustainability.
Factors driving the market include increased meat consumption, increased demand for meat and dairy products, and increased demand for eggs. The growing demand for livestock in the end-user sector has significantly increased the demand for feed preservatives. However, high margins are difficult to achieve in the animal nutrition industry. In recent decades, high-margin products have been sold at a lower volume, reducing sales volume.
Browse key industry insights spread across 200 pages with 130 market data tables and figures & charts from the report on "Global Feed Preservatives Market Size, Share, and COVID-19 Impact Analysis, By Type (Feed Acidifiers, Feed Antioxidants, Mold Inhibitors, and Anticaking Agents), By Livestock (Cattle, Poultry, Swine, Aquaculture), By Feed Type (Feed Premix, Compound Feed, Feed Meal, and Silage), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032)." Get Detailed Report Description Here:
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The anticaking agent’s segment is anticipated to expand at the fastest CAGR in the feed preservatives market over the study period.
The global feed preservatives market is divided into four categories: acidifiers, antioxidants, mould inhibitors, and anticaking agents. The anticaking agent’s segment is expected to grow at the fastest CAGR in the feed preservatives market during the study period. The reason for the increase is that anticaking agents absorb extra moisture or resist water and oil, keeping the feed dry for longer periods of time. These are added to the feed to prevent lumps and make the product more transportable.
The poultry segment is expected to account for the largest share of the global feed preservatives market throughout the period of projection.
Based on livestock, the global feed preservatives market is divided into four segments: cattle, poultry, swine, and aquaculture. The poultry segment is expected to account for the largest share of the global feed preservatives market during the period of prediction. The increase can be attributed to rising demand for eggs for appropriate vitamins and protein, which is expected to drive up poultry demand. Increased awareness of proper nutrition and care would also increase demand for feed preservatives in the poultry industry.
The compound feed segment is expected to hold the largest share of the global feed preservatives market over the forecast period.
The global feed preservatives market is classified into four categories: feed premix, compound feed, feed meal, and silage. Over the forecast period, the compound feed segment is expected to hold the largest share of the global feed preservatives market. The compound feed is widely used in animal husbandry and is the preferred choice of feed for most farmers, which can be attributed to the segmental growth.
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North America is estimated to hold the largest share of the global feed preservatives market over the predicted timeframe.
North America holds the largest market for feed preservatives due to the increasing demand for meat products and the adoption of advanced technologies in animal husbandry. Because of its large livestock population and the presence of major feed preservative manufacturers in the region, the United States is the largest contributor to the North American market. Over the forecast period, Europe is projected to expand at the highest pace in the global feed preservatives market. Because of the region's high consumption of meat and dairy products, Europe is expected to grow at the fastest pace for feed preservatives. In Europe, the demand for feed preservatives is being driven by growing concerns about the quality and safety of animal feed, as well as stringent regulations governing the use of antibiotics in animal feed.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the Global Feed Preservatives Market include BASF SE, Cargill, Inc, Alltech, Inc., Perstorp Holding AB, DSM N.V., Kemin Industries, Eastman Chemical Company, Bluestar Adisseo Nutrition Group Ltd., Archer-Daniels-Midland Company, Jungbunzlauer Suisse AG, Niacet Corporation, Pestell Minerals & Ingredients, Inc., Impextraco NV, Novus International, Inc., Nutreco N.V., and Others.
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Recent Developments
In January 2023, Nutreco, a feed manufacturer, and BiomEdit, a microbiome research company, have formed a long-term research and commercial collaboration to develop novel feed additives.
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