Industrial livestock production has undergone a significant transformation due to the advancements in antibiotics and animal vaccinations. The increasing demand for meat-based products propels the production of industrial livestock. Livestock products account for 16% of energy and 34% of the protein in human diets. Also, livestock production accounts for around 19% of the value of food production and 30% of the global value of agriculture. The surge in demand for livestock products subsequently affects the demand for animal feed and feed additives. For feed mills and integrated feed mills, nutritional additives help improve sustainability, performance, and overall animal health. The additives offer improved gut performance that reduces the need for harmful antibiotics. Phytogenic, acidifiers, and aquaculture are a few examples of additives for gut health. The demand for such additives is growing, especially after the ban on antibiotics as an additive. Therefore, the high demand for livestock products drives the animal feed additives market.
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.
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 North America animal feed additives market. The North America animal feed additives market is expected to grow at a good CAGR during the forecast period.
| Report Attribute | Details |
|---|---|
| Market size in 2021 | US$ 8,132.01 Million |
| Market Size by 2028 | US$ 12,339.03 Million |
| CAGR (2021 - 2028) | 6.1% |
| Historical Data | 2019-2020 |
| Forecast period | 2022-2028 |
| Segments Covered |
By Product Type
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Animal Feed Additives Market is valued at US$ 8,132.01 Million in 2021, it is projected to reach US$ 12,339.03 Million by 2028.
As per our report North America Animal Feed Additives Market, the market size is valued at US$ 8,132.01 Million in 2021, projecting it to reach US$ 12,339.03 Million by 2028. This translates to a CAGR of approximately 6.1% during the forecast period.
The North America 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 North America Animal Feed Additives Market report:
The North America Animal Feed Additives Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Animal Feed Additives Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Animal Feed Additives Market value chain can benefit from the information contained in a comprehensive market report.
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