The global animal feed additives industry is growing at a CAGR of 5.3% to reach over 38 billion by 2021. Asia-Pacific and North America are the top two consumers of feed additives in the world, with Asia-Pacific alone accounting for a 41% share of the global feed additives market. Asia-Pacific is the largest market for feed additive consumption and it holds a lot more potential due to the large untapped and unorganized livestock production sector, which still lacks awareness about the benefits of feed additives. North America is the second largest consumer of feed additives with 25% share.
The European market is one of the largest due to increased health awareness of meat quality, and the shifting meat consumption trend towards poultry and pork which require high feed additive inputs. On the other hand, the Asia-Pacific market is showing the highest CAGR of 5.68% in terms of feed additives demand due to increasing per capita meat consumption in the region, and rising consumer awareness towards meat quality.
The report segments the market by the type of additive and gives information (market size and growth rates) for each of the types at the regional level. It enables the audience to identify key growth areas to invest and information inputs for both strategic and tactical decision making.