MARKET REPORT 72 FEED & ADDITIVE MAGAZINE March 2022 ids globally with 2020 consumption volume share of 44.4%, which is slated to compound annually at 6.5% over 2020-2026 in reaching a projected 3.3 million metric tons by 2026. Swine feed is the second-largest consumer of feed amino acids with a share of 37.1% while aqua feed is anticipated to register the fastest similar period CAGR of 9.9% and reach a projected 67 thousand metric tons by 2026. MARKET STATUS ON REGIONAL BASIS Due to the continuous modernization of livestock production methods and the increase in demand for animal protein, Asia-Pacific dominates the feed amino acids market. Europe, on the other hand, is considered one of the fastest growing regions owing to the increasing consumption of quality meat. Industry ARC's report includes the following information on the regional market situation: Asia-Pacific dominated the feed amino acids market share with more than 52.68%, followed by North America and Europe, due to the rising consumer perception about the effect on animal products such as meat and dairy products of quality feed given to livestock. In addition, the ongoing modernization of the techniques of animal processing is expected to boost demand in Asia-Pacific region for different types of feed acids. Asia Pacific’s highest market share is attributed to rapid industrialization and urbanization, which helps to increase people's per capita income and has contributed to a growth in demand from protein-rich food. The number of feed mills in 2016 decreased respectively by about 39 percent, 18 percent and 13 percent, in countries such as India, South Korea and Vietnam, compared to 2015. This decrease in the number of feed mills indicates that, despite the continuous growth in consumption of animal protein, agricultural and feed production has consolidated. MAJOR PLAYERS IN FEED MINERALS MARKET Technology launches, acquisitions and R&D activities are key strategies adopted by players in the feed amino acids market. According to Transparency Market Research, manufacturers are focusing on increasing their production capacities of animal feed amino acid systems to meet the demand for animal feed amino acids from among end users. Resources: • Verified Market Research, Global Amino Acids Market Size By Product, By Raw Material, By Application, By Geographic Scope & Forecast, https://bit. ly/3CwSKUp • Industry ARC, Feed Amino Acids Market - Forecast(2022 - 2027), https://bit.ly/3sIcRvo
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