(Entertainment-NewsWire.com, November 07, 2017 ) The North America Feed Additives Market was worth $3.02 billion in 2016 and estimated to be growing at a CAGR of 3.71%, to reach $3.85 billion by 2021.
The North America feed additives market is developing at a significant rate due to the increase in the livestock population for meat consumption as a source of protein. Feed additives are vital in animal nutrition, as they enhance the quality of feed, and thereby enrich the animals’ performance and health. They also subsequently enhance the yield and quality of food from animal origin.
Feed additives are used in animal nutrition to boost the quality and properties of animal fodder to enhance features such as palatability preservation, overall gut health/digestive performance, and others. They have gained reputation globally, as they further the overall health of the animal, in turn enhancing the quality and quantity of meat produced from them.
The growth of the North America Feed Additives market is mainly driven the demand for low-cost meat with superior nutritional value throughout this region. Technology innovations are also playing a crucial role in the advancement of this industry. Different regulatory structures, increasing cost of raw materials and operations are the key restraining factors for the market.
The North America feed additives market is segmented based on type and livestock. The market for feed additives, on the basis of type, is classified into Antibiotics, Amino Acids, Enzymes, Antioxidants, Vitamins, Prebiotics, Acidifiers, Probiotics, Mycotoxin Detoxifiers, Feed Pigments, Flavours and Sweeteners, Feed Minerals, Feed Binders, and each is further classified into subgroups. On the basis of livestock, the North America feed additives market is segmented into poultry, cattle, swine, aquatic animals, and others. By livestock, the poultry segment leads the feed additives market in this region.
The North America market, which has the largest consumer base in the world, has been geographically segmented into USA and Canada. The USA leads the market in this region. The poultry segment is developing as a leading livestock segment for the consumption of feed additives, trailed by swine and cattle, because of the increase in demand for poultry meat, consumer taste predilections.
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