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Global animal feed additives market to hit $18.7 billion in 2016

The global animal feed additives market will reach $18.7 billion in 2016, according to estimates in the latest MarketsandMarkets report.

According to "Global Animal Feed Additives by Type, Livestock, Geography, Regulations Trends & Forecasts (2009-2016)", the Asian market, a driving sales force, will hold 28.5% of the global market share in 2016. Increasing demand for meat products in the region and rising domestic meat production are both expected to contribute to the area's growth.

Europe is currently the leading market for feed additives, with a 35% share in 2013 resulting from regulatory concerns and increasing percapita meat consumption. North America is the second largest market as of 2013, with a share of 28%; the U.S. is the largest market with a share of more than 80%, according to the report.

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