According to MarketsandMarkets, the "Feed Additives Market by Type (Amino Acids, Phosphates, Vitamins, Acidifiers, Carotenoids, Enzymes, Mycotoxin Detoxifiers, Flavors & Sweeteners, Minerals, and Antioxidants), Livestock, Form, Source, and Region - Global Forecast to 2026" size is estimated to be valued at USD 38.1 billion in 2021.
It is projected to reach USD 49.6 billion by 2026, recording a CAGR of 5.5%, in terms of value.
The growing consumption of livestock-based products and increasing feed manufacturers is driving the demand for feed additives.The Asia Pacific region accounted for the largest share in the global market, in terms of value.
Furthermore, the region has witnessed an increase in the number of feed mills and feed production, particularly in countries such as India and Japan.
This increase in the number of feed mills in the region reflects the growth in feed production.
The largest feed producer, China, contributes significantly to the region’s leading position, with Thailand and Indonesia being the emerging feed-producing countries, while India and Japan demonstrate constant growth in feed production.Request for Customization:https://www.marketsandmarkets.com/requestCustomizationNew.asp?id=870By livestock, the poultry segment is projected to grow with the highest CAGR in the global market during the forecast periodBased on livestock, the poultry segment is projected to be the largest and fastest-growing segment in the feed additives market.