Amino Acid Segment has the Largest Share of Product Type in the Asia Pacific Animal Feed Additives Market during 2020–2028 

According to a new market research study on “Asia Pacific Animal Feed Additives Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Livestock and Country” is expected to reach US$ 17,585.87 million, by 2028 from US$ 12,713.20 million in 2021. The market is estimated to grow at a CAGR of 4.7% from 2021 to 2028. The report provides trends prevailing in the Asia Pacific animal feed additives market along with the drivers and restraints pertaining to the market growth. The growth of this market is estimated to increase use of additives in animal feed, and the high demand for livestock products are the key factors driving the market growth. However, the market is expected to experience slow growth during the forecast period owing to demand for animal feed additives, such as antibiotics.

The COVID-19 pandemic is anticipated to cause a significant economic loss in Asia-Pacific. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of different countries across Asia Pacific have taken various possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. The Airports Council International (ACI) Asia-Pacific warned that the prolonged duration of the coronavirus (COVID-19) outbreak would drastically impact the region’s airports’ connectivity and economic sustainability, significantly restricting them from achieving previously forecasted growth prospects. Such closures are anticipated to negatively impact market growth in the coming period. Moreover, several economies in Asia Pacific region such as Singapore are primarily based on trade as opposed to manufacturing. Therefore, these economies suffered greatly in the situation of pandemic. However, post the government measures, vaccinations, and strategic economic recovery plan implementation has led the animal feed additives market in the region to resume growth.

The market for Asia Pacific Animal Feed Additives Market is segmented into the product type, livestock and country. Based on product type, the Asia Pacific Animal Feed Additives Market is segmented into vitamins, amino acids, carotenoids, enzymes, prebiotics & probiotics, minerals, acidifiers, lipids, and others. In 2021, the amino acids segment accounted for the largest market share. Amino acid segment is dominant because amino acids are building blocks of polypeptides and proteins that are a primary component in animals’ tissues and muscles. They play an important role in metabolic and biochemical processes of an animal which in turn has propelled the demand for amino acids from the animal feed industry. However the aquaculture systems segment is estimated to register the highest CAGR during the forecast period.

Cargill, Incorporated , Archer-Daniels-Midland Company , Evonik Industries AG  , Nutreco N.V , Alltech , DuPont de Nemours, Inc., DSM , Novozymes ,Kemin Industries Inc. Among the leading companies in the Asia Pacific animal feed additives market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The market for Asia Pacific animal feed additives market is segmented into product type, livestock. Based on product type, the Asia Pacific animal feed additives market is segmented into vitamins, amino acids, carotenoids, enzymes, prebiotics & probiotics, minerals, acidifiers, lipids, and others. Based on end user, the Asia Pacific animal feed additives market is segmented into poultry, ruminants, swine, aquaculture, and others. By Geographically, Asia Pacific animal feed additives market is segmented into (China, Japan, India, South Korea, Australia, and Rest of APAC).

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