Global Feed Preservatives Market
Dublin, July 20, 2022 (GLOBE NEWSWIRE) -- The "Global Feed Preservatives Market by Type (Feed Acidifiers, Mold Inhibitors, Feed Antioxidants, Anticaking Agents), Livestock (Poultry, Cattle, Swine, Aquaculture), Feed Type (Compound Feed, Feed Premix, Feed Meal, Silage), and Region - Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The global feed preservatives market was valued at USD 4.5 billion in 2021 and it is projected to reach USD 6.7 billion by 2027, with a CAGR of 6.7%
Feed additives are non-nutritive products added to the basic feed mix. The increasing meat consumption is growing steadily in the global market. The key players are strengthening their livestock sectors by integrating their feed business operations to the end of the supply chain. Some of the other factors which contribute to the growth of the market are the growing application of livestock in the food industry, the increasing need for natural preservatives, etc.
By type, the anticaking agents' segment is projected to be the fastest-growing market with a significant CAGR during the forecast period
Based on type, the anticaking agents is projected to be the fastest-growing market during the forecast period. Anticaking agents are used in feed to prevent the agglomeration of nutrients as it tends to absorb moisture. The addition of anticaking agents ensures that the product remains dry. Anticaking agents are used for optimum packing for easy transportation.
By Livestock, Poultry segment is estimated to account for the highest market share during the forecast period
In terms of livestock, the poultry segment dominates the global feed preservatives market and is projected to grow at a significant CAGR. The total poultry production has been increasing globally due to increased consumption. Poultry has become one of the important segments for meat producers due to the demand.
By feed type, the compound feed segment is forecasted to account for the largest market share
In terms of feed type, the compound feed segment holds a significant market share in 2022. The compound feed is a mixture of edible substances such as vegetables, and organic substances used as feed for livestock. Increasing business portfolios and expanding opportunities in the market are some of the factors driving the growth of the sector.
European region is the second-largest market for the feed preservatives market during the forecast period
The European market holds the second-largest market share in the feed preservatives market and it is growing with a considerable CAGR between 2022 and 2027. The country is one of the highest consumers of meat and producer of livestock. The need for feed preservatives in the region increased after a ban on the usage of antibiotics by the regulatory authority.