Feed Preservatives Market During the Forecast Period 2022-2030

MRFR Press Release/- Market Research Future has published a Report on the Global Feed Preservatives Market

Feed Preservatives Market Highlights

Feed Preservatives Market has witnessed continued growth over the last few years and is projected to grow by USD 13.8 billion from 2022 to 2030 at a CAGR of 8.1%. The rise in demand for meat and dairy products has prompted the growth of the livestock industry. The increasing population and change in consumer lifestyles across the globe have accelerated meat consumption, driving the growth of the livestock population. In 2021, global livestock production accounted for about 40% of the gross value of agricultural production. Changing consumer preferences and a high inclination toward animal-based protein is fueling the demand for quality foods such as meat, eggs, and milk. Moreover, an increase in per capita disposable incomes and rising health consciousness are driving the growth of the industry. Consumers are willing to pay high prices for protein-rich products. The compound feed industry has seen significant growth in the last decade. The increasing commercialization of livestock farming in developing countries such as India, Brazil, Argentina, Nigeria, and South Africa has boosted the demand for commercialized feed.  

With the rising demand for animal-based products, there is a need to increase livestock productivity. Livestock rearers are becoming more aware of the benefits of precision nutrition and feed quality in increasing livestock productivity. Moreover, the consumers of animal-based products are conscious about quality. Consumer concern for the environment in which the livestock are being reared and the feed and nutrition they have been provided is rising as these factors directly affect the quality of meat and dairy products. This has also forced livestock rearers to focus on feed safety. The governments in various countries, especially in Europe, are paying attention to feed quality. With this increasing demand for feed, the demand for feed ingredients and additives is also growing. The need to increase the shelf life of feed products and ensure feed quality has led manufacturers to increasingly use feed preservatives. Thus, the demand for feed additives and feed preservatives has increased, fueling the growth of the market.

Segmental Analysis

The Global Feed Preservatives Market has been segmented on the basis of type, livestock, feed type, and region.

Based on type, the global feed preservatives market has been segmented into acidifiers, antioxidants, mold inhibitors, and anticaking agents. In terms of revenue, the acidifiers segment dominated the global feed preservatives market in 2021. The segment is also projected to register the highest CAGR of 8.1% during the forecast period. Organic acids are most popularly used to inhibit bacterial growth in the animal feed industry. There are various types of organic acids available in the market such as antimicrobial or mold inhibiting products ranging from a single acid to a complex blend of these acids and their salts. Most of these acids have selective functions and are used based on the requirement. For instance, propionic acid is highly effective against bacterial growth in high moisture cereal grains and acts as a rapid control measure. The powder form of these acids is preferable in compound feed and feed premix manufacturing, as powder can be easily mixed and dispersed across the mixtures. 

By livestock, the global feed preservatives market has been segmented into poultry, ruminants, swine, aquaculture, and others. The poultry segment garnered the largest share of the global feed preservatives market in 2021. The poultry feed segment dominated the global feed preservatives market and accounted for a market share of 34.1% in 2019. According to Alltech Feed Survey 2021, the poultry feed production has seen a growth of 3% from 2017 to 2021. Poultry farming is lucrative and accounts for the majority of livestock farming around the globe. However, the aquaculture segment is expected to be the fastest-growing segment during the forecast period.

Based on feed type, the Global Feed Preservatives Market has been segmented into compound feed, feed premixes, and others. In 2021, the compound feed segment constituted the largest revenue share of the market. Owing to the growing demand for animal-based products, the commercialized rearing of animals has seen a boost in the past decade. The need to enhance the growth and performance of the animals has increased the focus on nutritional requirements. To provide clean and safe nutrition to the animals is a major priority for rearers. The aquafeed market is growing at a considerable rate owing to the rising demand for aqua-based protein and increasing consumption of seafood, especially in European countries such as Germany, the UK, and Spain. Seafood has high nutrition content and is rich in vitamins and amino acids that are lacking in other meat products. Advanced technology is being used in intensive and semi-intensive aquaculture which has led to advanced feed production for cultured species.

Geographically, the Global Feed Preservatives Market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. As per MRFR analysis, Asia-Pacific dominated the market, accounting for the largest market share of nearly 35.74% in 2019. In addition, the segment is also expected to register the highest CAGR of 8.1% during the forecast period.

Market Players

Market Research Future recognizes Kemin Industries, Inc. (US), Nutreco NV (Netherlands), Cargill, Incorporated (US), Impextraco NV (Belgium), Novus International, Inc. (US), Perstorp Holding AB (Sweden), Biomin Holding GmbH (Austria), Nutriad International NV (Belgium), Pestell Minerals & Ingredients Inc. (Canada), and Eastman Chemical Company (US) as the key players active in the Global Feed Preservatives Market.

Key Findings of the Study:

• The Global Feed Preservatives Market is expected to register a growth rate of 8.1% between 2022 and 2030. The Expansion of the livestock industry is anticipated to propel the growth of the global feed preservatives market.

• By type, the acidifiers segment is projected to maintain its dominance from 2022 to 2030. The segment is expected to register a substantial growth rate of 3% during the forecast period.

• On the basis of livestock, the poultry segment is estimated to hold the largest market share during the forecast period and is projected to register a growth rate of 2%.