Animal Feed Additive Market - Forecast(2020 - 2025)
Animal Feed Additive Market Overview: According to the Food and Agriculture Organization (FAO), livestock contributes to 40% of the global value of agricultural output. [1] The abundance of livestock in the agricultural sector has created a demand for animal feed. However, there are times when there is a discernible dearth of nutrient supply for farm animals which becomes detrimental to their growth. This is leading to an augmented need for animal feed additives that are more often than not used as nutrient supplements in animal feed. The flourishing animal feed additive market was valued to be $25,126 million as of 2018, and the demand for the same is poised to grow with a modest compound annual growth rate (CAGR) of 3.8% during the forecast period of 2019 to 2025. Owing to the population density in APAC and the catapulting demand for the livestock, the animal feed additive market is booming in the region. Furthermore, countries such as China, India, Indonesia, and others have