An increase in demand for meat and meat products has fuelled the growth of the global feed additives market over the past three years, said the report. Countries such as China, India and Brazil are contributing 23% to the market and are predicted to provide more than 39% in 2018.
The report breaks segments the animal feed market into several categories, including antibiotics, vitamins, antioxidants, amino acids, feed enzymes, feed acidifiers and others. An estimated reach of US$1.6bn is expected from the feed acidifiers sector in 2018 – a growth of US$0.8bn. North America leads the amino acids market, holding 29.9% of the global market share, while China holds 49.5% of the market and is the leader in the Asia-Pacific region.
Contributors to feed additive use include, highlighted in the report, include the outbreak of disease, rising awareness of meat quality and the industrialisation of the meat industry.
According to the report, the feed additives market was worth US$13.5bn last year. Asia-Pacific is the leader in this sector in revenue terms and is expected to maintain the lead until 2018, when it will account for 32.4% of the global animal feed additives market, followed by Europe.
