DSM to Continue its Dominance in Animal Feed Additive Market until 2023
Increase in
livestock production and growing preference for protein rich diets to boost
demand for animal feed additives, globally, through 2023
According
to TechSci Research report, “Global
Animal Feed Additive Market By Type, By Livestock, By Region, Competition
Forecast & Opportunities, 2013 – 2023’’, the global animal feed
additive market is forecast to surpass $ 14 billion by 2023, owing to increasing
consumption of animal meat, which is leading to higher production of livestock
across the globe. With rising global population, growing consumption of protein
rich food is being witnessed on account of rising consumer focus on health and reducing
risks of diet-related diseases. To improve the gut health, muscle health, etc.,
the animal feed is administered with feed additives to supply proper nutrition
to the animals. Consequently, increasing focus towards dietary needs of animals
is positively impacting the global animal feed additive market.
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Increasing
government regulations pertaining to food safety has coaxed manufacturers of
feed additives to comply with the new regulations that analyze risk-based
preventive control for animal food manufacturing facilities. New livestock
producing areas are popping across Europe and North America. Amino acid type of
feed additives is among the most popular product categories as it meets the
nutritional requirements for animals and offers a cost-effective means of supplying
protein. Poultry sector generates the largest demand for animal health
additives, owing to huge production of guinea, geese, chicken, pigeons and
other domesticated birds across the globe, especially backed by the large-scale
requirement of chicken meat. DSM is the leading player in the global animal
feed additive market, as the company offers feed additives for livestock
ranging from poultry, swine, cattle to aquaculture. The company also offers
feed additives consisting of enzymes, organic acids, vitamins and
micronutrients.
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“Asia-Pacific
controls the largest share in the global animal feed additive market, mainly
due to higher livestock production compared to other regions. Demand for animal
feed is mainly generated from countries such as China, India, Japan and Indonesia.
As a result of growing population in the region, demand for meat and milk
products would continue to grow in the coming years, which in turn is
anticipated to aid the region’s animal feed additive market over the course of
next five years.”, said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Animal
Feed Additive Market By Type, By Livestock, By Region, Competition Forecast
& Opportunities, 2013 – 2023” has evaluated the future growth
potential of animal feed additive market and provides statistics and
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and analyzes
the emerging trends along with essential drivers, challenges and opportunities
in the global animal feed additive market.
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