Press release
Nutritional Feed Additives Global Market Size | Share Soars to $5.97 Billion By 2028 with 7.3% | Key Players: BASF SE, Cargill Incorporated, Evonik Industries AG, Nutreco N.V, Kemin Industries Inc.
Nutritional Feed Additives Market
Furthermore, the report highlights on emerging trends, significant drivers, challenges, and opportunities, providing all necessary data for thriving in the Nutritional Feed Additives industry. This report on Nutritional Feed Additives market research offers a comprehensive perspective, including an in-depth analysis of the present and future scenarios within the industry.
Market Sizing:
The nutritional feed additives market size has grown strongly in recent years. It will grow from $4.18 billion in 2023 to $4.5 billion in 2024 at a compound annual growth rate (CAGR) of 7.7%. The growth in the historic period can be attributed to livestock health and productivity, disease prevention, nutritional supplementation, increased meat and dairy production. The nutritional feed additives market size is expected to see strong growth in the next few years. It will grow to $5.97 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%.
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Key Market Players:
BASF SE, Cargill Incorporated, Archer Daniels Midland Company, Evonik Industries AG, Nutreco N.V, Kemin Industries Inc., The Progressive Corporation are prominent players in the Nutritional Feed Additives industry.
Market Drivers:
The rise in consumption of meat products is one of the driving factors for the nutritional feed additives market. Due to high meat consumption, the concern for high-quality meat is also increasing. Thus, to deliver high-quality meat, add-on nutrition feed additives are fed to the animals so that they have good digestion to build on more muscle and weight. This increases the yield and productivity and, hence, the demand for nutritional feed additives. Currently, meat and poultry consumption in the US is more than 100 billion pounds every year.
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Market segments for Nutritional Feed Additives include:
1) By Form: Dry, Liquid, Other Forms
2) By Additive Type: Antibiotics, Vitamins, Antioxidants, Amino Acids, Enzymes, Mycotoxin Detoxifiers, Prebiotics, Probiotics, Flavors And Sweeteners, Pigments, Binders, Minerals
3) By Livestock: Ruminants, Poultry, Swine, Aquatic
4) By Distribution Channel: Direct, Indirect, Hypermarket/Supermarket, Specialty Stores, Online Retail
The report answers the following questions:
What are the primary factors propelling the market during the projected period?
In which region is the most substantial growth expected?
Which trend will take center stage in the upcoming period?
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