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Animal Feed Preservatives Market Share

Report ID: GMI7611
Published Date: Dec 2023
Report Format: PDF

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Animal Feed Preservatives Market Share

In November 2023, IFF’s and BASF’s Pharma Solutions divisions have joined forces in a collaboration to onboard IFF’s leading product brands in pharmaceutical excipients on BASF’s Virtual Pharma Assistant platform – Zoom Lab. The platform is a science-based digital tool designed to rapidly and accurately predict the best excipients needed for the development of new pharmaceutical formulations to help overcome formulation challenges.

In November 2023, BASF Services Europe GmbH is investing in an efficient and sustainable working environment for approximately 2,800 employees.

Animal Feed Preservatives Market Companies

Major players operating in the animal feed preservatives industry include:

BASF SE
Novus International, Inc.
Kemin Industries, Inc.
Nutreco N.V.
Cargill, Incorporated
DuPont de Nemours, Inc.

Authors: Kiran Pulidindi, Kunal Ahuja

Frequently Asked Questions (FAQ) :

Global market for animal feed preservatives was valued at USD 5.4 Billion in 2023 and is anticipated to grow a CAGR of over 6.1% between 2024 and 2032 driven by the increasing demand for high-quality animal nutrition and the need to prevent spoilage of feed ingredients.

The natural preservatives segment held a dominant market share of around 59.4% in 2023 and is expected to grow at a lucrative pace through 2032, attributing to consumers' increasing preference for healthier and environmentally friendly options.

North America market accounted for a revenue share of 45.3% in 2023 and is anticipated to expand at a significant pace during 2023-2032, driven by robust demand for high-quality animal nutrition, technologically advanced feed production practices, and a strong focus on optimizing livestock health and productivity.

BASF SE, Novus International, Inc., Kemin Industries, Inc., Nutreco N.V. are some of the major industry contenders.