Increasing demand for preservatives in feed premixes, compound feed, silage, and other animal feed products for enhanced stability and high shelf-life has surged the growth of the feed preservatives market in the Asia Pacific region. Feed preservatives are natural or chemical ingredients that are used to increase the shelf-life of animal feed. It is added to the feed product in small quantity as an additive. Feed preservatives restrict the process of osmosis to kill the micro-organisms, these products are regarded as safe and economical. Major key players are investing in R&D to bring up innovation in the product lines.
The Asia Pacific region is leading the feed preservatives market and is expected to have a substantial growth over the forecast period, 2017-2023. India and China are leading this market and are expected to dominate over the review period. Also, the Asia Pacific region accounts for a higher consumption of feed preservatives owing to increasing livestock population and high demand for superior quality feed for livestock animals.
Furthermore, increasing demand for natural preservatives in the animal feed in Asia Pacific countries like China, India, and Japan are likely to boost the growth of the feed preservatives market during the assessment period.
Moreover, increasing demand for feed preservatives from poultry and livestock feed manufacturers is boosting the growth of feed preservatives in this region. However, the high cost of processing and raw materials may hamper the market growth in the upcoming years. Asia Pacific feed preservatives market is estimated to grow at a CAGR of 9.4% during the forecast period, 2017-2023.
This report includes a study of strategies such as mergers, acquisitions, and product launches by the major feed preservatives players. It further includes product portfolios and developments of leading players, which includes
Cargill Inc. (U.S.) Kemin Industries, Inc. (U.S.) I. du Pont de Nemours and Company (U.S.) Alltech, Inc. (U.S.) BASF SE (Germany) Nutreco N.V. (the Netherlands) Biomin Holding GmbH (Austria) Impextraco NV (Belgium) Perstorp Holding AB (Sweden) and Novus International, Inc. (U.S.) Segments:
The global feed preservatives market is segmented into type and application.
On the basis of the type, it is segmented into natural and synthetic. Among the both, the synthetic feed preservatives hold the major market share owing to its wide range of product applicability and low cost. However, due to the increasing awareness regarding the side-effects associated with synthetic preservatives and growing consumer demand for green label products, a high demand for natural preservatives is observed which is likely to grow the market of natural feed preservatives over the review period.
On the basis of the application, it is segmented into feed premix, compound feed, silage, and others. Among all, the compound feed segment is dominating the market based on increased use of feed preservatives to maintain feed quality during transportation and storage. However, the silage segment is projected to witness steady growth over the forecast period.
The global feed preservatives market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Europe is dominating the feed preservatives market followed by Asia Pacific. The U.K registered a higher consumption of feed preservatives owing to increasing awareness about the benefits of using feed preservatives to extend the shelf-life of feed. Additionally, increasing demand for animal feed products with extended shelf-life is majorly driving the market growth in this region.
Also, growing demand for feed preservatives due to increased consumer awareness and inclination towards natural products, natural feed preservatives are experiencing a demand in the European market. Furthermore, increasing demand for preservatives in animal feed in the developing countries such as India, China, and Japan are likely to boost the growth of the feed preservatives market during the forecast period.