Specialty Feed Additives Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI1361
Specialty Feed Additives Market size is gaining huge importance as a nutrition content and hygiene and digestibility enhancer to augment the nutritional value of the animal feed that improves their intestinal health. Hence the specialty feeds additive market is expected to witness a prominent growth from 2017 to 2024 with a moderate CAGR.
The addition of specialty feed additives such as sweeteners & flavors helps to enhance the deliciousness of the feed. This in turn leads to a high feed intake by the livestock animals making them perform better. Hence, these taste enhancers are witnessing significant gain and position in the specialty feed additives market. Moreover, rising animal product consumption and growing outbreak of diseases such as bird flu, swine flu, mouth & foot infections in the livestock animals increase the safety & concern issues and are the major drivers for the specialty feed additives market. Also, encapsulation in feed acidifiers, innovation in animal husbandry, adverse impacts on the environment due to emission of greenhouse gasses, increasing epidemic outbreaks in livestock, increasing eggs consumption, dairy products, meat, and animal products will have positive impact the specialty feed additives market.
These products are mainly used for farm animals as food supplement. They add nutritional value to the feed. Increase in the demand for natural feed additives may create ample opportunities for future growth of the specialty feed additives market.
Lack of awareness among small scale farmers about the advantages of the product, rise in the operational and raw material cost and inconsistency in the regulatory structure might hinder the specialty feed additives market growth.
The specialty feed additives market can be segmented based on types into antioxidants, sweeteners & flavors, acidifiers, vitamins, binders, minerals and so on. Acidifiers are projected to develop at a rapid rate during the projected period. The sweeteners & flavors segment accounted for a noteworthy chunk of share in 2015, followed by the minerals.
The specialty feed additives market is classified in terms of livestock as aquatic, swine, ruminants and poultry animals. The poultry segment is projected to expand at a prominent pace during the projected timeframe owing to increasing consumer demand for eggs and other protein rich poultry products. It will be followed by the ruminant and swine segments in the forecast period. Increasing concerns about food security and rising poultry trade between nations are the factors projected to enhance the specialty feed additives market globally in the estimated timespan.
On the basis of function, the specialty feed additives market is majorly classified into functional ingredient preservation, palatability enhancement and mycotoxin management. Palatability or deliciousness enhancement additives is likely to witness a rapid growth in the forecast period as they gain substantial position in the market.
The product is available in dry and liquid form. They are available in dry form as powder and pellets. On the basis of form, the liquid segment of the specialty feed additives market is projected to grow at a higher CAGR than the dry segment due to its lower cost and easy availability.
Asia Pacific region is projected to be the most rapidly growing specialty feed additives market followed by the regions of North America and Europe. Specialty feed additives market demand is driven by factors such as urbanization growth, rise in disposable income and increase in population in the respective countries. Due to the rise in the purchasing power of consumers in the countries such as Japan, India and China, the specialty feed additives market is likely to expand at a higher rate.
Specialty feed additives market has some prominent and big players. These players include multinational companies such as BASF SE, Chr. Hansen Holdings A/S, Invivo NSA, Biomin Holding GmbH, Kemin Industries Inc., Lucta S.A., Brookside Agra, Nutreco N.V., Novozymes A/S, DSM, AkzoNobel Surface Chemestry AB, Novus International and Evonik Industries to name a few.
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