(I-BusinessNews.Com, May 21, 2020 ) The global feed additives market size is projected to grow from USD 33.0 billion in 2018 to USD 44.3 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 6.1% during the forecast period. Increasing consumption of livestock-based products, rising awareness about the importance of feed quality, and standardization of meat products owing to disease outbreaks are the major drivers for the growth of feed additives.
The major feed additives vendors include Cargill (US), DowDuPont (US), ADM (US), Evonik (Germany), BASF (Germany), DSM (Netherlands), Solvay (Belgium), Ajinomoto (Japan), Novozymes (Denmark), Chr. Hansen (Denmark), InVivo (France), Nutreco (Netherlands), Kemin (US), Adisseo (France), and Alltech (US). Expansions and investments have been the most dominating strategy adopted by major players, followed by acquisitions. This has helped them to increase their presence in different regions and enhance their product portfolio
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Cargill is involved in the manufacturing and marketing of food, agricultural, financial & industrial, and animal nutrition & protein products. The company offers feed ingredients through its animal nutrition business segment. Cargill’s animal nutrition provides feed additives, through its brand “Promote”, for poultry, swine, beef, and dairy. The company offers products such as probiotics, enzymes, antioxidants, and mycotoxin detoxifiers. Cargill mainly manufacturers aqua feed, and 30% of the raw material comes from agricultural, industrial, or fishery byproducts; thus reducing wastage and achieving the goal of the company to achieve sustainable development. Strategically, the company is focusing on phytogenic and mineral feed additives market. In November 2018, it invested USD 235 million in the Philippines for the expansion of its animal feed and nutrition business. As a result of this expansion, the company is focusing on meeting increased demand for chicken and pork in the country, along with the expansion of the agricultural supply chain.
Archer Daniels Midland Company (ADM) operates through five segments—agricultural services, oilseeds processing, corn processing, wild flavors and specialty ingredients, and others. It offers feed additive products through its subsidiary ADM Animal Nutrition, Inc. (US). It offers specialty ingredients, premixes & blending services, and feed products for animal health through its 270 food & feed ingredient manufacturing facilities present across the globe. In August 2018, ADM acquired Probiotics International Limited (UK), under its brand Protexin. Protexin offers a variety of natural products and probiotic supplements for the veterinary, agriculture, and equine healthcare markets. This would increase the product portfolio of the ADM nutrition division.
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