Feed Preservatives Market Unveiling Growth Prospects Size Forecasted with 8.1% CAGR
Global Feed Preservatives Market Outlook Feed Preservatives Market has witnessed continued growth over the last few years and is projected to grow by USD 13.8 billion from 2022 to 2030 at a CAGR of 8.1%. The rise in demand for meat and dairy products has prompted the growth of the livestock industry. The increasing population and change in consumer lifestyles across the globe have accelerated meat consumption, driving the growth of the livestock population. In 2021, global livestock production accounted for about 40% of the gross value of agricultural production. Changing consumer preferences and a high inclination toward animal-based protein is fueling the demand for quality foods such as meat, eggs, and milk. Moreover, an increase in per capita disposable incomes and rising health consciousness are driving the growth of the industry. Consumers are willing to pay high prices for protein-rich products. The compound feed industry has seen significant growth in the last decade. The inc