Animal Feed Additives Market Size, Share & Trends Analysis Report By Product (Antibiotics, Vitamins), By Source (Natural, Synthetic), By Form (Liquid, Dry), By Livestock, By Region, And Segment Forecasts, 2024 - 2030

Animal Feed Additives Market Size, Share & Trends Analysis Report By Product (Antibiotics, Vitamins), By Source (Natural, Synthetic), By Form (Liquid, Dry), By Livestock, By Region, And Segment Forecasts, 2024 - 2030

Animal Feed Additives Market Growth & Trends

The global animal feed additives market is anticipated to reach USD 55.46 billion by 2030 and is anticipated to grow at a CAGR of 4.3% from 2024 to 2030, according to a new report by Grand View Research, Inc. The market growth is fueled by growing animal feed production owing to the surging meat consumption across the globe, thereby bolstering the product in the coming years.

Amino Acids dominated with a 19.2% revenue share in 2023 due to the increasing demand for premium proteins, the need for improved feed efficiency, and a strong emphasis on livestock health and welfare. The amino acid segment was valued at USD 8.05 billion in 2023 and is likely to reach USD 11.27 billion by 2030, with a healthy CAGR of 5.2% during the review period. The synthetic source segment held the largest share, at 65.68% in 2023. This is due to advancements in synthetic chemistry, which have led to the development of more effective and safer feed additives.

The Asia Pacific region dominated the market in 2023 with a share of 40.50%, which is attributed to a large livestock population and the presence of various agricultural economies in the region. Increasing government efforts in India that focus on productivity enhancement in cattle, along with Bringing Green Revolution to Eastern India (BGREI), are expected to positively influence the product demand in the country.

Animal Feed Additives Market Report Highlights

• The dry form segment held the majority share of the market, at 78.41% in 2023, owing to its widespread use, which was facilitated by its ease of handling, cost-effectiveness, and convenience in storage and transportation
• The poultry segment held the largest market share at 45.79%. Their shorter production cycles allow for the use of feed additives like antibiotics, probiotics, and growth promoters to achieve quick and noticeable improvements in weight gain
• In April 2024, Zoetis Inc. entered into a definitive agreement with Phibro Animal Health Corporation. As per the agreement, Phibro Animal Health will acquire the Medicated Feed Additives (MFA) product portfolio of Zoetis Inc

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