Competitive Landscape in the Novel Feed Additives Market: Key Players and Strategic Developments

Competitive Landscape in the Novel Feed Additives Market: Key Players and Strategic Developments

Blog Article

Global sales of novel feed additives are projected to reach approximately USD 5,584.2 million by the end of 2024, with the market anticipated to grow at a 6.6% compound annual growth rate (CAGR), surpassing USD 10,581.2 million by 2034.

Farmers and producers are increasingly seeking alternatives that not only improve animal health and productivity but also minimize environmental impact. Companies like Evonik Industries and Alltech are at the forefront of this shift, developing natural feed additives that enhance nutrient absorption and reduce methane emissions, particularly in cattle nutrition.

Rising consumer demand for high-quality animal products is another key growth driver. With heightened awareness about health, there is growing preference for meat, milk, and eggs free from antibiotics and artificial additives.

This trend is pushing producers to adopt novel feed supplements, such as probiotics and prebiotics, which support gut health and boost the immune systems of animals. For example, Novus International offers a range of feed additives designed to improve animal health and performance, further driving industry growth.

Read full Report: https://www.futuremarketinsights.com/reports/novel-feed-additives-market