Report : North America Animal Feed Additives Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Vitamins, Amino Acids, Carotenoids, Enzymes, Prebiotics & Probiotics, Minerals, Acidifiers, Lipids, and Others) ,Livestock (Poultry, Ruminants, Swine, Aquaculture, and Others)
Amino Acid Segment has the Largest Share of Product Type in the North America Animal Feed Additives Market during 2020–2028
According to a new market research study on “North America Animal Feed Additives Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Livestock and Country” is expected to reach US$ 12,339.03 million, by 2028 from US$ 8,132.01 million in 2021. The market is estimated to grow at a CAGR of 6.1% from 2021 to 2028. The report provides trends prevailing in the North America animal feed additives market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to increase use of additives in animal feed, and the high demand for livestock products are the key factors driving the market growth. However, the market is expected to experience slow growth during the forecast period owing to demand for animal feed additives, such as antibiotics.
The US has the highest number of confirmed cases of COVID-19, as, compared to Canada and Mexico. This is likely to impact the animal feed industry in the region as, due to the COVID-19 outbreak, the supply chain is likely to get affected. In addition, the overall manufacturing processes, research, and development activities will also impact market growth. Moreover, more than half of the population in the US is fully vaccinated which is expected to benefit the manufacturing operations in the country and therefore ensure uninterrupted production. Over the forecast period, the US market is expected to be stable due to the proactive measures implemented by the government, thereby ensuring continuous demand from end users. Therefore, North America is expected to suffer low impact over forecast period as well.
The market for North America Animal Feed Additives Market is segmented into the product type, livestock and country. Based on product type, the North America Animal Feed Additives Market is segmented into vitamins, amino acids, carotenoids, enzymes, prebiotics & probiotics, minerals, acidifiers, lipids, and others. In 2021, the amino acids segment accounted for the largest market share. Amino acid segment is dominant because amino acids are building blocks of polypeptides and proteins that are a primary component in animals’ tissues and muscles. They play an important role in metabolic and biochemical processes of an animal which in turn has propelled the demand for amino acids from the animal feed industry. However the aquaculture systems segment is estimated to register the highest CAGR during the forecast period.
Cargill, Incorporated , Archer-Daniels-Midland Company , Evonik Industries AG , Land O'Lakes, Inc , Nutreco N.V , Alltech , DuPont de Nemours, Inc., DSM , Novozymes ,Kemin Industries Inc. Among the leading companies in the North America animal feed additives market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.
The market for North America animal feed additives market is segmented into product type, livestock. Based on product type, the North America animal feed additives market is segmented into vitamins, amino acids, carotenoids, enzymes, prebiotics & probiotics, minerals, acidifiers, lipids, and others. Based on end user, the North America animal feed additives market is segmented into poultry, ruminants, swine, aquaculture, and others. By Geographically, North America animal feed additives market is segmented into (US, Canada, and Mexico).
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