Asia-Pacific Feed Additives Market (Vitamins, Minerals)

The Asia Pacific Feed Additives Market was worth $9.52 billion in 2016 and estimated to be growing at a CAGR of 5.1%, to reach $12.29 billion by 2021.

The Asia-Pacific feed additives market is evolving at a significant rate due to the surge in the livestock population for meat consumption as a source of protein.

Feed additives are used in animal nutrition to lift the quality and properties of animal fodder to augment features such as palatability preservation, overall gut health/digestive performance, and others. They have gained reputation internationally, as they further the general health of the animal, in turn improving the quality and quantity of meat produced from them. For example, poultry feed additives are used to enhance the bird’s egg-laying capacity, disease prevention, and feed utilization.

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The growth of the Asia-Pacific Feed Additives market is majorly driven by factors such as the increase in meat consumption, industrialization of the livestock industry, and the threat of diseases in livestock. Increasing cost of raw materials is a key factor hindering the growth of the market in the Asia-Pacific region.

The Asia-Pacific feed additives market is segmented based on type and livestock. The market for feed additives, on the basis of type, is classified into Antibiotics, Antioxidants, Amino Acids, Enzymes, Vitamins, Mycotoxin Detoxifiers, Prebiotics, Acidifiers, Probiotics, Feed Pigments, Feed Binders, Flavours and Sweeteners, Feed Minerals and each is further classified into subgroups. On the basis of livestock, the Asia-Pacific feed additives market is segmented into poultry, cattle, swine, aquatic animals, and others. By livestock, the poultry segment leads the feed additives market in this region. Amino Acids, antibiotics, acidifiers, and vitamins are the major sectors accounting for almost 50% of the entire feed additives market. Feed antioxidant is another high growth segment in this market owing to ramped-up efforts of manufacturers to avoid feed spoilage and wastage.

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The Asia-Pacific region is geographically segmented into China, India, Japan, South Korea, and Australia. This region offers significant opportunities for the feed additives market, with China and India being the most populous countries in this region contributing to the increasing demand. The Asia-Pacific region is expected to offer lucrative growth opportunities, owing to the considerable increase in feed production and increasing awareness among the consumers about the quality of meat products and due to the rise in disposable incomes in developing economies, primarily in China and India. China is the major feed additives manufacturer in the world and accounts for around half the production of feed additives in the Asia-Pacific region.

Some of the major companies dominating this market in this region are BASF SE, Alltech, Inc., Novozymes A/S,Cargill, Inc., Archer Daniels Midland Company, Charoen Pokphand Foods Public Company Limited,Chr. Hansen Holding A/S, Evonik Industries AG, Adisseo France SAS, andNutreco N.V,.

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