Feed preservative market has been significantly growing with increased awareness anout animal health.
Increased application of livestock in food industry has surged the feed preservative production, surging demand form poultry and aquafeed sectors, and rising awareness about animal health and nutrition are some of the major factors driving the growth of the market.
The anticaking agent segment is expected to pace up owing to its beneficial properties to absorb excess moisture, thus keeping preservatives dry and increase its shelf life. Further, other segments such as feed acidifiers, mold inhibitors, and feed antioxidants is also expected to gain traction during the forecasted year.
Within the report, the market is segmented into type, and livestock, and geography. By type, the market is further segmented into feed acidifiers, mold inhibitors, feed antioxidants, and anticaking agent. By livestock, the market is categorized into poultry, ruminants, swine, and aquaculture. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.
Increasing demand for animal health and nutrition has empowered the growth of futuristic innovations.
Rising number of animals to fulfill the growing number for animal products such as meat, milk, and eggs are expected to drive the growth of the market during the forecast period. Increased demand for animal products has led to the increased demand for feed preservative to longer shelf life long with to preserve the nutritional value of the feed. Further, various prominent players in the market to embark on research and development activities to develop more sustainable product.
Rising adoption in various livestock use is one of the major factors accelerating the market growth.
The livestock for feed preservative are poultry, ruminants, swine, aquaculture, and others. Within these livestock, poultry is one such end use, wherein the use of feed preservatives is increasing owing to increased demand for eggs for appropriate vitamins and protein and rise in awareness regarding optimum nutrition and care in the sector. The aquaculture has also witnessed an extensive use of feed preservatives in feed products owing to rising aquaculture farming in various developing economies.
Recent strategic developments in feed preservatives market
The feed preservatives market has undergone several significant developments, and a few of these have been mentioned below:
The feed preservatives market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Cargill, Incorporated, BASF SE, Nutreco N.V., Biomin Holding GmbH, and Perstorp Holding Ab are among the prominent players operating in the market.
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Scope of the report:
In this report, the market has been segmented on the basis of: