Feed Preservatives Market Overview
Feed Preservatives Market to grow at 9.0% CAGR from 2019 to 2027
Market Dynamics
Since feed preservatives are commonly favored in the feed premix industry, demand for them is increasingly increasing, and the global market for them is expected to develop. They are also used in a variety of applications, with the potential to become the global feed preservative in the future. Because of the greater need to maintain the quality of premix ingredients such as minerals, amino acids, and vitamins, which are easily perishable and can deteriorate in the presence of light and heat, pre-mixtures for feed are commonly recognized in the market of forage preservatives.
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The growing demand for feed premixes to preserve animal health is intended to promote the use of feed preservatives, as well as the use of feed preservatives by several suppliers to maintain premix quality. Investment in food-rich products has increased as people become more aware of personalized formulations and food management methods for lowering production costs and improving livestock health. To maintain feed quality, feed additives such as acidifiers, mold inhibitors, and anti-caking agents were developed. The use of feed preservatives in compound feeds has been highlighted for its effectiveness in preserving the feed’s quality during storage in the silo and transportation. The efficient use of preservatives in forage has become a priority for feed producers due to growing versatility and competition in the prices of critical control and raw materials.
However, a drop in global agricultural end-product prices may result in substantial product cost-cutting, which has been shown to be a limiting factor for market growth.
Segmental Analysis
The market for feed preservatives has been segmented by type, livestock, feed type, and area.
Acidifiers, antioxidants, mold inhibitors, and anticaking agents are the diverse types of feed preservatives available. The acidifiers segment dominated the global feed preservatives market in terms of revenue in 2018. During the forecast period, the segment is also expected to have the highest CAGR of 9.3%. In the animal feed industry, organic acids are most used to inhibit bacterial development.
The global feed preservatives market is divided into poultry, ruminants, swine, aquaculture, and other livestock types. In 2018, the poultry industry accounted for the largest share of the global feed preservatives market. In 2018, the poultry feed segment dominated the global feed preservatives market, accounting for 34.1 percent of the total market share. Poultry farming is profitable, and it accounts for many poultry farming worldwide. During the forecast era, however, the aquaculture segment is expected to expand at the fastest rate.
The Global Feed Preservatives Market Size has been divided into three categories: compound feed, feed premixes, and others. The compound feed segment had the largest revenue share of the market in 2018. Commercialized animal rearing has increased in the last decade because of the rising demand for animal-based products. Nutritional needs have become more important because of the need to improve animal growth and performance. For animal rearers, providing clean and healthy feed is a top priority. The aquafeed market is expanding at a rapid pace, owing to rising demand for aqua-based protein and rising seafood consumption.
Analyses by Region
Over the review period, the Asia-Pacific region will have the fastest-growing demand for feed preservatives, while the European region had the largest market in 2015. The move to organized agriculture in aquaculture and poultry parts in emerging markets such as Thailand, India, Malaysia, China, Indonesia, and Vietnam have accelerated market growth in the Asia-Pacific region.
In European countries such as Germany, the United Kingdom, and Spain, tight regulatory restrictions on antibiotics and the increasing popularity of feed acidifiers as a suitable alternative were major reasons for its strong market share in 2015. Seafood is high in protein and contains vitamins and amino acids not found in other meat products. In intensive and semi-intensive aquaculture, modern technology is being used, resulting in advanced feed production for cultured organisms.
Competitive Analysis
Special chemical manufacturers, such as Perstorp Holding AB (Sweden), among others; additives and premixture manufacturers, such as Nutrition N.V. (Netherlands), Kemin Industries, Inc. (United States), Biomin Holding GmbH (Austria), and Impextraco NV (Belgium), among others; and animal nutrition and health companies, such as Merck Animal Health (USA), Novus AB (Netherlands), Novus AB (Netherlands), Nov In the last five years, the most profitable strategy among the major players has been expansion, acquisitions, and mergers, which should ultimately result in global market consolidation.
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