South Korea Feed Additives Market Assessment, By Product Type [Technological Additives, Nutritional Additives, Sensory Additives, Zootechnical Additives, Coccidiostats and Histomonostats], By Livestock [Ruminants, Poultry, Aquatic Animals, Swine, Others], By Source [Synthetic, Natural], By Form [Dry, Liquid], By End-user [Residential, Commercial], By Region, Opportunities and Forecast, 2017-2031F

South Korea Feed Additives Market is projected to witness a CAGR of 4.50% during the forecast period 2024-2031, growing from USD 0.52 billion in 2023 to USD 0.74 billion in 2031.

South Korea Feed Additives Market Size, Growth, Report 2031

South Korea feed additives market&nbsp;is projected to witness a&nbsp;CAGR of 4.50%&nbsp;during the forecast period 2024-2031, growing from&nbsp;USD 0.52 billion&nbsp;in 2023 to&nbsp;USD 0.74 billion&nbsp;in 2031. The sector is ready for substantial development considering several elements that articulate the importance of improving livestock productivity and assuring food security. There is an increase in demand for premium animal products such as meat, dairy, and eggs due to people&rsquo;s rising knowledge about diet and health advantages. The trend has led to an increased concentration on animal diets enriched with nutrient supplements which improve the dietary intake of animals, spur their growth and improve the overall health status.
The market is being driven by advancements in technology that are being harnessed for the production of specialized additive substances such as enzymes, amino acids, and probiotics in feed formulation. These innovations are aimed at making feeds more efficient, minimizing wastage in farms while promoting sustainable agricultural practices, which are highly regarded in the light of environmental concerns and compliance with different regulations.
Additionally, South Korean authorities are working on adjusting mechanisms that foster better living conditions for farm animals and food quality. Such changes have, in turn, affected other aspects of the livestock industry including shift towards animal feeds which do not contain antibiotics, and promote animal wellbeing without negotiating safety.
The key global and local players are investing heavily in research and development for developing new and innovative products. South Korea feed additive market is expected to grow steadily driven by increasing livestock productivity, ensuring food safety, and promoting sustainable agriculture.
In April 2024, a pilot project aimed at increasing the conception rates of dairy cows was launched by Gyeongnam Province in South Korea to provide farmers with a coated beta-carotene feed supplement. The 2024 conception rate improvement dairy specification technology pilot project includes this program, which will target dairy farms with more than 40 dairy or Gyeongsan cows spread over five cities and counties.
<h2 style="text-align: justify;">Rising Demand for Animal Products Fuel the Market Growth</h2>
The feed additives market is majorly propelled by the increasing demand for animal products in South Korea as the consumers emphasize more on high-standard meats, dairy products, and eggs. An increase in health consciousness and knowledge about the nutritional advantages of animal proteins has primarily fostered this change.
To meet the increased demand, farmers and producers are concentrating on maximizing animal production which results in more use of feed supplements. Feed additives are essential for improving animal feeds in terms of nutrition, increasing growth rates, enhancing feed conversion efficiency, and improving overall health status of the livestock. With the incorporation of vitamins, minerals, enzymes, and probiotics into diets of animals that are being reared on farms, these feed additives help producers to satisfy growing consumer demands for quality and safety.
In February 2024, South Korea based animal nutrition company, EASY BIO, Inc. acquired US-based feed additives company, Devenish Nutrition LLC, to expand its feed premix and feed additives business in North America. The acquisition is intended to facilitate customer satisfaction by offering more advanced and diverse solutions in the market.
<h2 style="text-align: justify;">Technological Advancements Catalyze Market Expansion</h2>
Technological advancements have been a key factor in the growth of South Korea feed additives market due to innovations aimed at improving animal nutrition and production efficiency. With modernization taking root in agriculture, specialized feed additives such as enzymes, amino acids, and probiotics emerge as vital ingredients for better feed quality and enhanced animal health. They allow producers to design accurate and balanced diets that suit varying needs of different livestock species.
For instance, enzymes are meant for the breakdown of complex food ingredients, consequently leading to improved absorption of feed nutrients and minimization of feed wastes. It eventually, improves feed effectiveness and decreases the costs of production. In fact, in March 2023, BASF Company Ltd. and Cargill Agri Purina, Inc. extended their collaboration to provide high-performance enzyme solutions to South Korean animal protein manufacturers. The advances in enzyme feed developed by the partners promote production, farmer sustainability, and animal welfare.
Hence, there is an increase in the adoption of advanced feed additives in South Korea due to technological advancements that are coherent with the rising regulatory demands and customers&rsquo; desires for safer, healthier, and more sustainable animal products.
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<h2 style="text-align: justify;">Ruminants Hold a Larger Market Share</h2>
In South Korea feed additives market, ruminants inclusive of cattle, sheep, and goats have a more substantial market share due to the increasing demand for dairy and beef products in the country. The increased consumption of dairy products, such as milk or cheese, with preference for high quality beef has resulted in an emphasis on optimizing nutrition among ruminants. As a result, specialty feed or nutritional additives are needed to enhance digestion, improve feed conversion rates, and promote overall livestock well-being.
The major reason behind the monopoly of ruminants in the feed additives market is their complicated digestion system where nutrition has to be managed with accuracy for higher production levels. Ruminant feed supplements such as probiotics, enzymes, and minerals are important for improving nutrient uptake and subsequently milk yield and meat quality. Moreover, additives have a role to play in maintaining ruminant health by reducing cases of diseases caused by poor digestion and promoting environmentally friendly farming techniques.
In September 2023, CH4 Global, Inc., a producer of methane reducing feed additive, Methane Tamer,&nbsp;collaborated with South Korean giant Lotte International, to offer its ruminant enteric methane-reduction technology to the livestock farmers in South Korea. Lotte International, the only partner of CH4 Global, Inc. in South Korea, will supply the enteric methane-reducing feed supplement to a maximum of four million cattle. Four million cattle would have ten million metric tons reduced emissions or, in a cautious estimate, seven million metric tons of CO2-e annually, impacting the climate tremendously (GWP100).
Future Market Scenario (2024 &ndash; 2031F)
1.&nbsp;With the constantly increasing need for premium animal products, focus will remain on improving livestock production with advanced feed additives.
2.&nbsp;Emerging from the fear of ecological degradation and necessitated by sustainable agriculture, feed additives that enhance resource-use efficiency, decrease greenhouse gas emissions, and enhance animal well-being to increasingly gain attention.
3.&nbsp;As South Korea gets more connected and involved in global economies, keeping pace with international norms will thus be imperative, shaping the production of kinds of feed additives.
Report Scope
&ldquo;South Korea Feed Additives Market Assessment, Opportunities and Forecast, 2017-2031F&rdquo;,&nbsp;is a comprehensive report by Markets and Data, providing in-depth analysis and qualitative and quantitative assessment of the current state of South Korea feed additives market, industry dynamics, and challenges. The report includes market size, segmental shares, growth trends, opportunities, and forecast between 2024 and 2031. Additionally, the report profiles the leading players in the industry, mentioning their respective market share, business models, competitive intelligence, etc.
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Report Attribute
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Details
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Base Year of the Analysis
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2023
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Historical Period
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2017-2022
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Forecast Period
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2024-2031
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Projected Growth Rate
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CAGR of 4.50% between 2024 and 2031
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Revenue Forecast in 2031
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USD 0.74 billion
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Segments Covered
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Product Type, Livestock, Source, Form, End-user
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Regions Covered
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North Chungcheong, South Chungcheong, Gangwon, North Gyeongsang, Gyeonggi, South Gyeongsang, Jeju, North Jeolla, South Jeolla
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Key Companies Profile
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BASF Company Ltd., Cargill Agri Purina, Inc., Archer Daniels Midland Korea LLC, Evonik Korea Ltd., Novozymes Korea Limited, Miltech Co., Ltd., Eunjin Bio Co., Ltd., DAEHO CO., LTD., SOMA Inc., CENTINAL Animal Health &amp; Nutrition
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Customization Scope
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15% free report customization with purchase
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Pricing and Purchase Options
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Avail the customized purchase options to fulfill your precise research needs
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Delivery Format
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PDF and Excel through email (subject to the license purchased)
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In the report,&nbsp;South Korea feed additives market&nbsp;has been segmented into the following categories:&nbsp;
<ul style="text-align: justify;">
<li>By Product Type
<ul>
<li>Technological Additives
<ul>
<li>Preservatives</li>
<li>Antioxidants</li>
<li>Emulsifiers</li>
<li>Acidity Regulators</li>
<li>Others</li>
</ul>
</li>
<li>Nutritional Additives
<ul>
<li>Vitamins</li>
<li>Amino Acids</li>
<li>Others</li>
</ul>
</li>
<li>Sensory Additives</li>
<li>Zootechnical Additives</li>
<li>Coccidiostats and Histomonostats</li>
</ul>
</li>
<li>By Livestock
<ul>
<li>Ruminants</li>
<li>Poultry</li>
<li>Aquatic Animals</li>
<li>Swine</li>
<li>Others</li>
</ul>
</li>
<li>By Source
<ul>
<li>Synthetic</li>
<li>Natural</li>
</ul>
</li>
<li>By Form
<ul>
<li>Dry</li>
<li>Liquid</li>
</ul>
</li>
<li>By End-user
<ul>
<li>Residential</li>
<li>Commercial</li>
</ul>
</li>
<li>By Region
<ul>
<li>North Chungcheong</li>
<li>South Chungcheong</li>
<li>Gangwon</li>
<li>North Gyeongsang</li>
<li>Gyeonggi</li>
<li>South Gyeongsang</li>
<li>Jeju</li>
<li>North Jeolla</li>
<li>South Jeolla</li>
</ul>
</li>
</ul>
Key Players Landscape and Outlook
The key players in South Korea feed additives market are positioning themselves to capitalize on the growing demand for high-quality livestock products and the need for sustainable agricultural practices. These market leaders are focusing on expanding their product portfolios through continuous research and development, aiming to introduce innovative feed additives that address the specific nutritional needs of various livestock categories, including poultry, ruminants, swine, and aquaculture.
As the market becomes increasingly competitive, companies are investing in advanced technologies to enhance the effectiveness of their feed additives, such as the development of enzyme-based products that improve feed conversion efficiency and probiotic solutions that boost animal health. In addition, partnerships and collaborations within the industry are becoming more common, as firms seek to combine expertise and resources to strengthen their market presence.
The market outlook for key players remains positive, with opportunities for growth driven by the rising demand for sustainable and safe animal products. As regulatory requirements tighten, particularly concerning antibiotic usage, the adoption of alternative, health-promoting feed additives is expected to increase, positioning these companies to lead the market in the coming years.
In March 2022, Spain-based Bioiberica announced a strategic partnership with Miltech Co., Ltd. for the exclusive distribution of its Palbio line of hydrolyzed proteins for animal nutrition in South Korea. Palbio is a secure source of high-grade hydrolyzed proteins in the form of bioactive peptides and L-&alpha;-amino acids. Palbio 50 RD improves the digestive health of young animals, enhancing feed intake and digestion to guarantee upgrades in fish, poultry, and pigs.
Key Players Operating in South Korea Feed Additives Market are:
<ul style="text-align: justify;">
<li>BASF Company Ltd.</li>
<li>Cargill Agri Purina, Inc.</li>
<li>Archer Daniels Midland Korea LLC</li>
<li>Evonik Korea Ltd.</li>
<li>Novozymes Korea Limited</li>
<li>Miltech Co., Ltd.</li>
<li>Eunjin Bio Co., Ltd.</li>
<li>DAEHO CO.,LTD.</li>
<li>SOMA Inc.</li>
<li>CENTINAL Animal Health &amp; Nutrition</li>
</ul>
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South Korea Feed Additives Market Assessment, Opportunities and Forecast, 2017-2031F

South Korea feed additives market is expected to experience growth due to rising demand for high-quality livestock products, increasing awareness of animal nutrition, advancements in feed technology, and a focus on sustainable and safe animal farming practices.

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