The Spain feed additives market size was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 5.3% during 2023–2031. The growth of the market is attributed to growing meat consumption along with recent outbreak of diseases has generated the need for additives in aqua, poultry, and other animal-based products.
Feed additive refers to the products that enhance animal nutrition and are added to animal feed, to provide complete nutrition to farm animals. The end consumers of feed additives are feed mills that manufacture compound feed. The market scope excludes supplements directly purchased by farmers to add to the nutritional qualities of home-grown feed.
The Covid-19 pandemic had an adverse impact on the Spain feed additives market. The production and supply in the market has been on halt owing to lockdown; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.
Market Trends, Drivers, Restraints, and Opportunities
Rising meat consumption is expected to drive the feed additives market during the forecast period
Significant rise in cattle farming is likely to spur the demand for animal feed additives over the forecast period.
Increasing consciousness about the benefits of additives and the recent outbreak of various diseases is estimated to propel the market in coming years
Various applications of feed additives such as improvement in digestion and reproduction as well as the health of the animals are the key factor fueling the market growth.
regulations restricting the use of antibiotics in animal feed are projected to impede the market
R&D investment and technological advancement in Spain feed additives market is expected to offer lucrative opportunities for the market players.
Scope of the Report
The report on the Spain feed additives market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Spain Feed Additives Market –Industry Analysis, Growth, Share, Size, Trends, and Forecast
Additive Type (Antibiotics, Vitamins, Antioxidants, Amino Acids, Enzymes, Mycotoxin Detoxifiers, Prebiotics, Probiotics, Flavors and Sweeteners, Pigments, Binders Acidifiers, and Minerals) and Animal Type (Ruminants, Poultry, Swine, and Others)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
BASF SE, Cargill Incorporated, Adisseo, Alltech, and Nanta SA
Market Segment insights
The amino acids segment is projected to constitute a large market share
Based on additive type, the feed additives market is segregated into antibiotics, vitamins, antioxidants, amino acids, enzymes, mycotoxin detoxifiers, prebiotics, probiotics, flavors and sweeteners, pigments, binders acidifiers, and minerals. The amino acids segment is expected to account for a key share of the market during the forecast period owing to growing consumer awareness regarding the benefits associated with the use of feed additives to reduce the prevalence of diseases. It is considered as protein building blocks for livestock health and is responsible for food intake, enhancing gut health, reproduction, and metabolic process.
The poultry segment is expected to register a substantial CAGR
Based on animal type, the feed additives market is divided into ruminants, poultry, swine, and others. The poultry segment accounts for a key share of the market and is estimated to propel even further over the forecast period owing to increasing demand of poultry meat supplemented by the consumption of processed poultry. The rising demand for processed meat and protein diet, owing the rise in household income levels, is anticipated to continue driving the demand for animal feed.
The Spain feed additives market has been segmented on the basis of:
- Amino Acids
- Mycotoxin Detoxifiers
- Flavors and Sweeteners
- Binders Acidifiers
- BASF SE
- Cargill Incorporated
- Nanta SA
Key players competing in the Spain feed additives market includes BASF SE, Cargill Incorporated, Adisseo, Alltech, and Nanta SA.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares.