Feed Preservatives Market Synopsis:
Market Definition:
Preservatives are chemical compounds added to foods & beverages, pharmaceutical drugs, feed, cosmetics, and variety of other products to check their decomposition caused by microbial growth and hence, increases the shelf-life of the products. Feed preservatives are either natural or synthetic ingredient. Along with improving the stability and feed quality, they also improve animal health by reducing livestock diseases. The most common preservatives used in feeds are sorbates, benzoates, propionates, nitrates, and many others.
Market Scenario:
The global feed preservatives market is growing due to rising consumer awareness and high demand for preservatives in the feed industry. Growing population in the developing countries has led to increased demand for poultry, ruminants and other livestock for consumption, which has uplifted the demand for feed, which, in turn, has uplifted the feed preservatives market. Moreover, use of feed preservatives has helped in restricting feed spoilage and also reducing feed wastage.
Furthermore, value-added benefits associated with the use of preservatives in the feed is also supporting the sale of feed preservatives across the globe. Additionally, the enhancement of the product coupled with technological advancements is considered to be one of the significant reasons for the increasing growth of the feed preservatives market during the forecast period, 2017-2023.
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Intended Audience:
• Feed preservatives manufacturers
• Feed manufacturers
• Livestock industry
• Raw material suppliers
• Retailers and wholesaler
• Traders, importers, and exporters
Key Findings:
• Asia Pacific region is found to be an emerging market for feed preservatives
• The demand for feed preservative is high from poultry and aqua feed manufacturers
• Natural feed preservatives have a considerable opportunity in the feed industry
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.
Regional Analysis:
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.
Key Players:
Some of the key players profiled in the global feed preservatives market: Cargill Inc. (U.S.), Kemin Industries, Inc. (U.S.), E. 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.)
The global feed preservatives market is segmented into the following regions
The report for global feed preservatives market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives a clear picture of current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macroeconomic and governing factors in the market. The report provides detailed information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
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