The Global Feed Preservatives Market was worth $2.1 billion in 2016 and is estimated to be growing at a CAGR of 9.2%, to reach $3.27 billion by 2021.
The market is showcasing evident potential in the mentioned forecasting period. The market continues to gain momentum with growing awareness about feed management practises and customized formulations to reduce production costs and improve livestock health, which has led to increase in investments on high quality feed products resulting in the need for preservatives.
Feed Preservatives constitutes a bunch of feed additives like feed acidifiers, antioxidants etc. which are used to maintain a better hygiene for livestock and hence improve their productivity.
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There are various factors driving the growth of the Feed preservatives market and thus being responsible in the market showing immense potential in the forecast period. The major factors include regulatory requirements to improve feed quality, unpredictable crop harvest patterns which have led to the need for feed storage.
Further, Industrialization of poultry sector across developing markets has also been a key factor for the growth of the market. As far as restraints are concerned there has been just one major factor holding back the potential growth of the market recently which is the limited margins of profit of the End Product.
Due to the low profits the market has seen lower investments than its potential.
The Global market for Feed Preservatives is segmented on the basis of type, livestock and feed type. Based on type the market is segmented into Feed acidifiers, Mold inhibitors, Feed antioxidants and Anticaking agents.
The acidifiers are further fragmented into propionic, formic, lactic and sorbic acid. The sub segments for mold inhibitors include propionates, benzoates, natamycin.
For feed antioxidants, the sub segmentation is done into BHA, BHT and Ethoxyquin. On the basis of Livestock, the market is segmented into cattle, poultry, swine, aquaculture and other livestock.
Under feed type the segmentation is done into compound feed, feed premix, feed meal, silage and other feed types. Acidifiers, poultry and compound feed account for the largest market shares in their respective segments.
On the basis of geography, the global market is analysed under various regions namely North America, Europe, Asia-Pacific and Rest of the World. The Feed Preservatives market was dominated by Europe holding the largest market share globally.
It is followed by North America and Asia-Pacific. Asia Pacific is projected to show the highest growth rate compared to other regions in the coming years.
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Some of the major companies dominating the market, by their products and services include BASF SE, E.I. Dupont De Nemours and Company, Nutreco N.V., Alltech Inc., Novus International Inc., Perstorp Holding AB, Biomin Holding GmbH, Cargill Inc., Impextraco NV, Kemin Industries Inc.
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