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The global animal feed additives market was worth US$13.5bn in 2011 and is expected to reach US$17.5bn in 2018, according to a new report by Transparency Market Research
The report revealed that the global animal feed additives market is growing at a compound annual growth rate (CAGR) of 3.8 per cent from 2011 to 2018. In the overall global market, Asia Pacific is expected to maintain its lead position in terms of revenue till 2018. Asia Pacific is expected to enjoy 32.4 per cent of global animal feed additives market revenue share in 2018 followed by Europe.
The increase in global demand for meat and meat products has fueled the growth of global feed additives market over the last three years. This growth is particularly higher in emerging countries like China, India, and Brazil which contributed 23 per cent in 2011 and expected to contribute 39 per cent in 2018.
The animal feed additives market is segmented into antibiotics, vitamins, antioxidants, amino acids, feed enzymes, feed acidifiers and others (Trace minerals, NPN and so on). The global feed acidifiers market is estimated to reach US$1.6bn in 2018 from US$1bn in 2011, at a CAGR of 6.3 per cent from 2011 to 2018. Asia Pacific is major sales contributor and is expected to hold 32 per cent of the global market share in 2018.
This market is expected to have high growth of CAGR 4.0 per cent due to higher demand and sales. The US remains the leader in the North American amino acids market with 29.9 per cent market share, while China leads the Asia Pacific market with 49.5 per cent market share followed by Japan. Within Europe, UK draws the largest demand, which is followed by Germany.