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The size of feed additives markets is also determined by economic factors. These may include fluctuations in prices of commodities, foreign exchange rate changes among others that affect the buying power of livestock growers. Economic recessions may cause a decline in expenditure; hence impacting on the premium or special feed additive requirements. Opposite to this, economic growth can result into more investment in livestock sector thus enhancing adoption of advanced fed additive use.
Furthermore, disease prevalence and prevention are key determinants for the state of affairs with respect to feed additives market. Besides this, probiotics, prebiotics and immune stimulants as some examples of such additives have now become common place in supporting animal health improvement while increasing their resistance against diseases. There might be higher demand for avian influenza or swine fever outbreaks that require those kinds of healthy supplements for overall welfare including management of diseases within animals.
The volatility in live animal feedstuff exports, as well as import obligations and tariffs, have a significant influence on these inputs in terms of availability and cost. Disruption of supply chains caused by geopolitical events that affect major producing areas for feed additives can impact the global market.
The size of the feed additives market was USD 30.5 billion in 2022; this number is expected to expand significantly reaching USD 49.62 billion by 2030 according to industry estimates starting from USD 32.7 billion in 2023. This implies an impressive CAGR of about 7.20% during the forecast period between 2023 and 2030. This is partly because there is an increased need for meat due to population growth worldwide including developing countries, which are increasingly becoming more affluent, people consuming more protein-rich diets, while others may be exporting more meat than before Some vital nutrients needed for their body growth are usually acquired through applying these supplements thus increasing metabolic activities which leads to rising revenues.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Segment Outlook | Type, Form, Livestock, and Region |
Feed Additives Market Highlights:
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