Chicago, July 26, 2024 (GLOBE NEWSWIRE) -- The global feed additives market size is estimated at USD 42.2 billion in 2023 and is projected to reach USD 55.8 billion by 2028, at a CAGR of 5.8% from 2023 to 2028. Feed additives are substances added to animal feed to enhance its nutritional value, improve animal health, and boost livestock productivity. These additives have gained significant importance in the global agricultural and livestock industry due to their ability to address various challenges faced by farmers and feed producers. Download PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=870 Key Players in the Market Cargill, Incorporated (US) ADM (US) International Flavors & Fragrances, Inc. (US) Evonik Industries AG (Germany) BASF SE (Germany) DSM (Netherlands) Ajinomoto (Japan) Novozymes (Denmark) CHR. HANSEN (Denmark) TEGASA (Spain) Drivers: Rise in awareness about feed quality As consumers become more conscious of the quality and safety of animal-derived products, such as meat, milk, and eggs, there has been a growing demand for healthier and more sustainable livestock production practices. Owing to this, farmers and producers have become increasingly cognizant of the fact that the nutritional content and safety of animal feed directly impact the health, growth, and overall performance of their livestock. This rising awareness has spurred a growing demand for feed additives, as they are essential in enhancing the nutritional value of animal feed and ensuring its safety. Moreover, the occurrence of disease outbreaks in the livestock industry has further fueled this awareness. Outbreaks like avian influenza and swine fever have highlighted the immense importance of maintaining stringent feed quality standards to prevent the spread of diseases and safeguard animal health. As a result, farmers are now investing more in high-quality feed additives to bolster their animal nutrition programs, reduce disease risks, and optimize production efficiency. Opportunities: Shift toward natural growth promoters Natural growth promoters, such as probiotics, prebiotics, and botanical extracts, have gained immense traction as alternatives to traditional antibiotics and synthetic additives. These natural additives not only enhance animal health and performance but also mitigate the risk of antibiotic resistance and residual chemical residues in animal products. Consequently, the opportunities in the feed additives market have expanded significantly, driven by the rising demand for clean-label and organic animal products. The adoption of natural growth promoters is poised to have a profound impact on the feed additives market. As consumers become increasingly conscious of the food they ...