Market Trends of North America Feed Anti-Caking Agents Industry
This section covers the major market trends shaping the North America Feed Anti-Caking Agents Market according to our research experts:
Increasing Demand from Livestock Industry
The rapid growth of the livestock sector is promoting the use of Feed anti-caking agents in the North America region. According to the Food and Agriculture Organization Corporate Statistical Database, the livestock population has increased from 11.03 billion in 2016 to 11.38 billion in 2018. This growth is responsible for the huge population increasingly shifting their diets to livestock products. With this increasing demand for animal protein, the consumption of meat products is growing rapidly in this region. As the livestock industry is growing at a high rate, the rapid expansion of the animal feed industry is observed which is accelerating the demand for feed anti-caking agents. Hence, with these rising demands, the feed anti-caking agent's market is anticipated to grow at a positive growth rate during the forecast period.
Increasing Consumption in United States
The United States is recorded as the largest producer and consumer of this market, due to the high demand for feed in the country. According to Alltech Feed survey data, the feed production in North America for the year 2019, is 282 million metric tons, of which major contribution is from the United States, contributing 214 million metric tons. Of this, cattle and poultry feed segments occupied major portions, accounting for 82.193 million metric tons and 62.597 million metric tons. In poultry and cattle feed, an anti-caking agent is mostly used to stop caking and agglomeration, and increase the flow of feed ingredients. And so, there is an increasing demand for this market in the United States. Due to the rising demands for the requirement of high-quality livestock feed, the Feed anti-caking agent's market has seen a spurt in demand in recent years and is anticipated to grow further during the forecast period.
