APAC Animal Feed Additives Market size is projected to reach $9.5 Billion by 2024. Growing livestock industry owing to increasing meat demand along with rising government subsidies and incentives for improving livestock health may increase the market size. Moreover, there is a rising demand for antibiotic-based products owing to their capability to promote livestock growth. Rising population in this region along with increasing living standards and disposable incomes may cause a shift in dietary habits leading to higher meat consumption.
China antioxidant animal feed additives market size is likely to exceed USD 75 million by 2024 pertaining to improved meat production & distribution systems, economic development and declining small-holder livestock production. Antioxidants help reduce oxidation of animal feed, improve meat shelf life, and vitamin deficit thus preventing tissue necrosis & muscular dystrophy.
Asia Pacific animal feed additives market size from broilers may witness significant gains at over 4.5% up to 2024 owing to rising production efficiency, growing imports and low costs of poultry products. These products enhance broiler growth, increase feed conversion, and provide the broiler’s cells with a constant energy supply.
Thailand pigment animal feed additives market demand may witness consumption gains over 4% in the predicted timeframe. The country is witnessing rising meat exports, increasing penetration by feed manufacturers, and rising focus on self-sufficiency in feed production. These products improve meat quality and appearance by improved skin, egg yolk and meat pigmentation along with providing antioxidants, immune & reproductive health benefits.
The market share is competitive and fairly fragmented among several industry participants such as BASF SE, ADM, Cargill, Kemin Industries and Alltech. Major manufacturers are focusing on strategic mergers & acquisitions to improve their product portfolio.
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