Many marketing agencies dive into business intelligence. According to a new market report published by Transparency Market Research the market for animal feed additives is to grow from US$13.5 billion in 2011 to US$18.5 billion in 2018.
In their report “Animal Feed and Feed Additives Market – Global Industry Size, Market Share, Trends, Analysis, and Forecast, 2011 – 2018”, the global animal feed additives market can count on a compound annual growth rate (CAGR) of 3.8% from 2011 to 2018.
In the overall global market, Asia Pacific is expected to maintain its lead position in terms of revenue untill 2018.
Asia Pacific is expected to enjoy 32.4% of global animal feed additives market revenue share in 2018 followed by Europe.
The increase in global demand for meat and meat products has fuelled the growth of global feed additives market over the last three years. This growth is particularly higher in emerging countries like China, India, and Brazil, which contributed 23% in 2011 and expected to contribute 39% in 2018.
In the report the animal feed additives market is segmented into antibiotics, vitamins, antioxidants, amino acids, feed enzymes, feed acidifiers and others (Trace minerals, NPN and so on).
In the press release for promoting the $4,395 costing report the research agency gives an example of the global feed acidifiers market, which is estimated to reach $1.6 billion in 2018 from $1.0 billion in 2011, at a CAGR of 6.3% from 2011 to 2018.
Asia Pacific is major sales contributor and is expected to hold 32% of the global market share in 2018. This market is expected to have high growth of CAGR 4.0% due to higher demand and sales.
The US remains the leader in the North American amino acids market with 29.9% market share, while China leads the Asia Pacific market with 49.5% market share followed by Japan. Within Europe, UK draws the largest demand, which is followed by Germany.