If I drop the axiom that Zero is the identity of an addition what consequences does this entail? What do I need to change to my axiomatization?
By definition it is not possible, but are there mathematical structures like a field but without an additive identity?
I don't have a concrete example/issue but I am interested in this question.
Yes. It is part of the definition of a field (and, more generally, a ring).
People do study various alterations to the concept of field, such as
but, I think it is worth mentioning, all of these have an identity element for the $+$ operation. It is a pretty fundamental thing to want one's mathematical structures to have. I'm not saying that structures without an additive identity aren't worth studying, just that they would behave so differently from fields I don't see any reason to even say "It's like a field, but..."
Edit: Looking at the page on semifields, it appears that an alternative definition of the term does in fact allow for not having an additive identity. So much for objects getting names that make sense...