Published on : Mar 29, 2016
The global animal feed additives market has been exhibiting significant rise over the past decade. The increasing demand for meat and dairy products across the world, together with the growing concerns over their qualities among global consumers, has subsequently fueled the demand for these additives, which are used in the cattle-feed to ensure the quality of the milk and meat.
In addition to this, the rising consumption of milk around the world is likely to stimulate the demand for animal feed additives substantially over the next few years.
China and India Lead Asia Pacific Animal Feed Additives Market
Asia Pacific has been leading the worldwide animal feed additives market since last few years. In 2014, it acquired a share of 30% in the overall market. The increasing demands for meat and dairy products in China and India are driving the Asia Pacific market for animal feed additives.
North America has occupied the second position in the global animal feed additives market. The U.S. and Canada are the leading markets for animal feed additives in North America.
Cattle Emerges as Biggest Consumer for Animal Feed Additives
Cattle, buffalo, and other ruminants such as goat, sheep, and deer are the key end users of animal feed additives. Cattle has emerged as the biggest consumers of these additives across the world. In 2014, this segment accounted for 80% of the overall consumption of animal feed additives in the global arena. The increasing awareness regarding the healthcare of the cattle, together with the growing demand for quality meat, is boosting the demand for these additives in this segment. The buffalo segment is also expect to report a significant rise in the coming years.
CHR Holdings A/S, BASF S.E., Evonik Industries, Archer Daniels Midlands Co., Novozymes, DSM, Danisco, Alltech Inc., Cargill Inc., and Elanco are the animal feed additives producers in the global arena.