QY Research has recently published a new report, titled “Global Animal Feed Supplements Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application.” The report delves into the market dynamics of the global animal feed supplements market and provides valuable insights about the drivers. Analysts have also discussed the potential threats in the market that are likely to determine its future. The report has been collated using primary and secondary research methodologies that provide a precise and an accurate estimation of the overall market.
According to analysts, the global animal feed supplement market is estimated to be worth US$64.78 bn in 2025 from US$54.16 bn 2018. During the forecast years of 2018 to 2025, the global market for animal feed supplements is projected to register a CAGR of 2.59%.
Global Animal Feed Supplements Market: Drivers and Restraints
The significant growth of the global animal feed supplements market will be attributable to the soaring population. The increasing number of meat and dairy consumers are largely driving the market. Escalating demand for good quality meat that is derived from healthy and disease-free cattle is projected give the market a definite impetus in the coming years. Consumption of meat will be especially high in the developing countries as health awareness improves. Furthermore, growing awareness of nutritional deficiencies such as B12 amongst the young and old are also projected to spike demand for dairy consumption, thereby helping the market to grow.
On the flip side, the market does face certain restraints. Currently, the volatile prices of raw materials, such as wheat, barley, and maize, is expected to hamper the demand.
Global Animal Feed Supplements Market: Segmentation
On the basis of product, the market is segmented into minerals, amino acids, vitamins, enzymes, and others. The animal feed supplements are eventually applied to manufacture poultry feeds, pig feeds, and ruminant feeds.
Global Animal Feed Supplements Market: Regional Segmentation
On the basis of region, the global animal feed supplements market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa. Out of these, Asia Pacific is expected to lead the global market as the region boasts a huge meat-eating population, rising disposable income, awareness about benefits of consuming dairy, and improving lifestyles. Rapid pace of urbanization and manufacturing units producing supplements are expected to drive the regional market. Exports of animal feeds by emerging economies in Asia Pacific is also projected to keep the region in the lead.
Global Animal Supplements Market: Competitive Landscape
Some of the leading players operating in the global animal feed supplements market are Evonik, Adisseo, CJ Group, Novus International, DSM, Meihua Group, Kemin Industries, Zoetis, CP Group, BASF, Sumitomo Chemical, ADM, Alltech, Biomin, Lonza, Global Bio-Chem, Lesaffre, Nutreco, DuPont, and Novozymes.
Companies are expected to focus on acquisitions to widen their footprints and expand their businesses. For instance, Cargill has turned its attention to the Brazilian swine industry and is thus looking at acquiring Beckers, a Brazil-based manufacturer of swine feed. With this move, Cargill will acquire 50% of the country’s swine feed production.
Full Report Overview@ https://www.qyresearch.com/index/detail/1165602/global-animal-feed-supplements-market