Cargill, Incorporated, Archer Daniels Midland Company, Evonik Industries AG, BASF SE, and DSM, among others, are the major players in the global feed additives market.
The global feed additives market reached a value of about USD 34.9 billion in 2020. The industry is further expected to grow at a CAGR of about 5.3% in the forecast period of 2021-2026 to reach a value of around USD 46.9 billion by 2026. As per the analysis by Expert Market Research, the market is expected to be driven by the growing global population and increasing health concerns among consumers.
The industry is being supported by rising meat consumption and the use of animal-origin foods. Growing consumer awareness of the benefits of these additives, combined with the emergence of new diseases, is driving demand for additives in poultry, aqua, and other animal-based goods, which is driving up product demand globally. Consumer preferences for protein-rich diets, and factors such as rising disposable incomes and changing lifestyle patterns, are driving up demand for meat, seafood, and other products, promoting industry growth. Prominent market players are boosting their R&D investments in order to produce improved products, which is expected to drive up demand for feed additives globally. Market players are also concentrating on upgrading and expanding their existing product lines and global footprint to strengthen their market position, which is projected to aid the global feed additives market over the forecast period.
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In the forecast period, the increased industrialisation of meat production is expected to assist the industry. The Indian animal feed market is also witnessing high growth, which is propelling the global feed additives market forward. In 2018, the Indian animal feed market was valued at over INR 820 billion, making it one of the world's largest feed producers. Cattle is one of the most important sources of dairy products in the world. Cattle farming is also witnessing a significant increase due to the increased consumption of dairy products, which is expected to drive demand for feed additives over the forecast period.
Headquarters: Wayzata, Minnesota
Cargill Inc is a privately held global food corporation. In terms of revenue, it is the largest privately held corporation in the United States. The company has around 166,000 employees in 66 countries and accounts for 25% of all grain exports from the United States. Purchasing, trading, and distributing grain, and other agricultural commodities, such as palm oil; trading in energy, steel, and transportation; raising livestock and producing feed; and producing food ingredients such as glucose syrup and starch, vegetable oils, and fats for use in processed foods and industrial use are some of Cargill's major businesses.
Headquarters: Chicago, Illinois
The Archer Daniels Midland Company, commonly known as ADM, is an American global food processing and commodities trading corporation. The company operates more than 420 crop procurement facilities and 270 plants worldwide, where oilseeds and cereal grains are processed into products used in beverage, food, industrial, nutraceutical, and animal feed markets worldwide. The company also provides transportation and agricultural storage services. The company specialises in food ingredients, soybean, corn, animal nutrition, food science, sustainable materials, and plant-based protein, among others.
Headquarters: Essen, Germany
Evonik is a leading speciality chemicals company in the world. The company has over 32,000 employees spread across more than a hundred locations. The company makes aircrafts greener, electric car batteries perform better, 3D printers more efficient, and medications more effective. The company specialises in animal nutrition, specialty chemicals, cosmetic solutions, membranes, resource efficiency, and high-performance polymers, among others.
Headquarters: Ludwigshafen, Germany
BASF creates chemistry for a sustainable future. The company combines economic success with social responsibility and environmental protection and has about 110,000 employees worldwide. The company's portfolio is organised into six segments: materials, chemicals, industrial solutions, surface technologies, agricultural solutions, and nutrition and care. The company specialises in chemicals, functional materials & solutions, agricultural solutions, and oil and gas, among others.
Headquarters: Heerlen, Limburg
Koninklijke DSM NV, commonly known as DSM, is a Dutch global corporation active in the fields of health, nutrition, and materials. DSM delivers innovative business solutions for animal nutrition, human nutrition, medical devices, personal care & aroma, green products and applications, and new mobility and connectivity. The company specialises in life sciences, materials sciences, sustainability, innovation, and sustainable living, among others.
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