MARKET REPORT FEED & ADDITIVE MAGAZINE May 2024 85 feed preservatives, regulatory authorities such as the FDA and the European Food Safety Authority have established recommendations for their use. COMMONLY USED FEED PRESERVATIVES Common types of animal feed preservatives include organic acids, antioxidants, mould inhibitors and antimicrobial agents. Each of these preservatives serves specific purposes in maintaining the quality of feed ingredients and finished feeds and are segmented into feed acidifiers, mould inhibitors, feed antioxidants, anti-caking agents. According to market research companies, feed acidulants are the segment with the largest market share in the global feed preservatives market. This segment is expected to grow significantly in the coming years and dominate the global market. Feed preservatives are also divided into synthetic and natural. Growing concerns over the potential effects of synthetic additives on animal and human health are fuelling the demand for natural alternatives in animal feed preservation. Natural preservatives derived from sources such as herbs, spices and plant extracts are considered as a safer and eco-friendly option to maintain the quality and safety of animal feed. On the basis of form, the dry feed preservatives segment is expected to witness significant growth in the coming years. Dry feeds, including pellets and granules, are widely used in the livestock and poultry industries owing to their ease of handling, storage, and transportation. However, the dry nature of these feeds makes them susceptible to microbial contamination and oxidation and requires the use of effective preservatives to maintain their nutritional value over time. The growth of the dry segment is attributed to the expanding global livestock and poultry industries where processed and dry feeds are widely used. FEED PRESERVATIVES MARKET AND FORECASTS According to a recent report by Acumen Research and Consulting, the global animal feed preservatives market size was realised at USD 4.8 billion in 2022. Pointing out that the market will grow at a CAGR of 6.4% between 2023 and 2032, the company estimates that the total size will reach USD 8.8 billion by 2032. DataM Intelligence's report provides similar data on the market size and growth expectations. According to the company's report on the global feed preservatives market, the market size, which reached USD 4.12 billion in 2022, will reach USD 6.76 billion by 2030, growing at a CAGR of 6.4% during the forecast period 2023-2030. Spherical Insights & Consulting also estimates the market size at USD 4.7 billion in 2022. According to the company's report, the feed preservatives market will reach USD 8.9 billion by 2032, growing at a CAGR of 6.5% during the forecast period. Another market forecast supporting the first 3 reports belongs to Maximize Market Research (MMR). According to MMR's report, the global feed preservatives market, valued at USD 4.79 billion in 2022, will grow at a CAGR of 6.6% during the forecast period 2023-2029. The company expects the market value to reach USD 7.49 billion in 2029.
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