Animal feed products are fortified with vitamins, minerals, phosphorous, and calcium. Feed fortification helps increase the strength of bone and decrease the mortality of animals. Feed fortification is beneficial in treating bone fractures with help of boron additives. Probiotics fortification has evidently helped in increasing animal immunity and growing performance. The animal feed is fortified to reduce crude proteins, such as soybean, and contains synthetic amino acids. Antibiotics, acidifiers, antioxidants, vitamins, minerals, amino acids, binders, and enzymes are a few of the most popular types of additives used for the feed fortification. The growing demand for these additives due to the health benefits associated with each additive is expected to drive the growth of the animal feed additives market during the forecast period..
In Europe, The market for animal feed in the region has been negatively impacted due to COVID-19 restrictions. According to the European Compound Feed Manufacturers' Federation (FEFAC), EU animal feed production fell 1.0% in 2020 because the pandemic affected consumer demand for products of animal origin. Moreover, the avian influenza outbreaks in several parts of Europe added difficulties to the poultry sector which in turn also affected the animal feed additives market growth. However, chicken meat has begun gaining preference among consumers with the ease of restrictions in response to the improving situation of the ongoing pandemic. This is likely to gradually drive the growth of the animal feed industry in the coming years, which will subsequently offer growth opportunities for the animal feed additives market in terms of value sales.
With the new features and technologies, vendors can attract new customers and expand their footprints in emerging markets. This factor is likely to drive the Europe animal feed additives market. The Europe animal feed additives market is expected to grow at a good CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 7,727.66 Million |
| Market Size by 2028 | US$ 10,827.83 Million |
| CAGR (2021 - 2028) | 4.9% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
|
Regions and Countries Covered
|
|
| Europe | UK, Germany, France, Russia, Italy, Rest of Europe |
| Market leaders and key company profiles |
|
The Europe Animal Feed Additives Market is valued at US$ 7,727.66 Million in 2021, it is projected to reach US$ 10,827.83 Million by 2028.
As per our report Europe Animal Feed Additives Market, the market size is valued at US$ 7,727.66 Million in 2021, projecting it to reach US$ 10,827.83 Million by 2028. This translates to a CAGR of approximately 4.9% during the forecast period.
The Europe Animal Feed Additives Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Europe Animal Feed Additives Market report:
The Europe Animal Feed Additives Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Europe Animal Feed Additives Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Europe Animal Feed Additives Market value chain can benefit from the information contained in a comprehensive market report.
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