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)
North America animal feed additives market in North America is expected to grow from US$ 8,132.01 million in 2021 to US$ 12,339.03 million by 2028; it is estimated to grow at a CAGR of 6.1% from 2021 to 2028.
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.
North America Animal Feed Additives Revenue and Forecast to 2028(US$ Million)
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North America Animal Feed Additives Segmentation
By Product Type
- Vitamins
- Amino Acids
- Carotenoids,
- Enzymes
- Prebiotics & Probiotics
- Minerals
- Acidifiers
- Lipids
- Others
By Livestock
- Poultry
- Ruminants
- Swine
- Aquaculture
- Others
By Country
- North America
- US
- Canada
- Mexico
Companies Mentioned -
- 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.
- 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.
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