Australia and New Zealand Animal Feed Additives Market Size Expands to Reach USD 12.11 Billion & 3.75 Million Tons by 2030
Published | 16 April 2024
Australia and New Zealand Animal Feed Additives Market is flourishing because of the increasing demand for meat and meat-based products and growing consumer awareness about the diseases caused by livestock animals.
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated the Australia and New Zealand Animal Feed Additives Market size at USD 9.82 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Australia and New Zealand Animal Feed Additives Market size to expand at a CAGR of 6.14% reaching a value of USD 12.11 billion by 2030. The increased frequency of zoonotic illnesses and expanding meat consumption are major growth factors for the Australia and New Zealand Animal Feed Additives Market.
By volume, BlueWeave estimated the Australia and New Zealand Animal Feed Additives Market size at 2.46 million tons in 2023. During the forecast period between 2024 and 2030, BlueWeave expects the Australia and New Zealand Animal Feed Additives Market size to expand at a CAGR of 7.30% reaching the volume of 3.75 million tons by 2030. During the period in analysis, it is projected that the Animal Feed Additives Market in Australia and New Zealand will be driven by growing consumer awareness and concerns as well as strict government regulations on the safety and quality of meat.
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Opportunity: Flourishing sheep farming industry in Australia
The Australia and New Zealand Animal Feed Additives Market is segmented into swine, ruminants, poultry, aquatic animals, and others, based on livestock. The ruminant segment accounts for the highest market share owing to large sheep farming in Australia. According to the data from Pasture.io, an agritech company, Australia is the world's leading sheep exporter, exporting 57% of its lamb output and 92% of its mutton production. The flourishing sheep farming in Australia is a result of a favorable climate and vast grazing lands, along with strict animal welfare regulations in the country, which produces high-quality wool.
Australia and New Zealand Animal Feed Additives Market
Segmental Coverage
Australia and New Zealand Animal Feed Additives Market – By Form
Based on form, the Australia and New Zealand Animal Feed Additives Market is segmented into dry, liquid, and others. The dry segment holds the largest share in the Australia and New Zealand Animal Feed Additives Market. Dry feed additives are easier to carry, transport, and store compared to liquid products and have lower chances of contamination and leakage, which may result in significant losses to farmers. Furthermore, dry products are also cost effective, which plays a crucial role in driving market growth. However, liquid animal feed additives are also anticipated to witness a significant growth rate during the forecast period as they are more convenient to mix in the feed.
Australia and New Zealand Animal Feed Additives Market – By Country
The in-depth research report on the Australia and New Zealand Animal Feed Additives Market covers the market in Australia and New Zealand. Australia dominates the Australia and New Zealand Animal Feed Additives Market. Together with India and Brazil, Australia is one of the world's top livestock producers, which has a direct impact on the demand for animal feed additives in the nation. New Zealand holds a significant portion of the market. Australia was given a 'C' rating in the Animal Protection Index, whereas New Zealand obtained the highest 'A' rating from the UK-based World Animal Protection (WAP) Organization.
Competitive Landscape
Major players operating in the Australia and New Zealand Animal Feed Additives Market include Ridley Corporation Limited, Alltech, Kemin Industries, Inc, Dsm-Firmenich, Zagro, BEC Feed Solutions Pty Ltd, Reid Stockfeeds, Nutrinza, ADM, and Nutritech International Ltd.
To further enhance their market share, these companies employ various strategies, including mergers and acquisitions, partnerships, joint ventures, license agreements, and new product launches.
The in-depth analysis of the report provides information about growth potential, upcoming trends, and the Australia and New Zealand Animal Feed Additives Market. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in the Australia and New Zealand Animal Feed Additives Market and industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyzes the growth drivers, challenges, and competitive dynamics of the market.
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