Specialty Feed Additives Market to Surpass $14B
Demand driven by innovations in animal husbandry, disease outbreaks in livestock, and newer health perspectives on animal nutrition
The global specialty feed additives market is projected to grow at a CAGR of over 5% and is estimated to reach a value pool of over $14.5 billion by the end of the forecast period (2019-2027).
The increasing demand for specialty feed additives is driven by innovations in animal husbandry, disease outbreaks in livestock and newer health perspectives on animal nutrition.
Specialty feed additives are playing an important role in preserving digestive health and increasing palatability of feeds.
Presently, large scale investments in research & development by key players have helped manufacturers shift toward specialty feed additives from their erstwhile conventional variants, as specialty feed additives provide outstanding characteristics such as enhancement of palatability, prevention of mycotoxin deaths and ingredient preservation in food.
Key Takeaways of Specialty Feed Additives Market Study
- The specialty feed additives market is mainly concentrated in Asia Pacific region due to rising demand of meat and other meat based products in this region. The region has shown massive economic dependence on agriculture and livestock and the market is expected to grow 1.4x during the forecast period
- Specialty feed additives market in India, China and Japan is expected to explode due to the countries' improving purchasing power
- Acidifiers segment is anticipated to be the fastest growing segment during the forecast period, poised to grow at a CAGR of 6%. Within the modern poultry farming business, acidifiers are gaining wide acceptance to cure diseases such as ascites caused by various microbial invasion
- Significant investments in R&D by key players is aiding the production of specialty feed additives with higher nutrient content and acquisition of regional players mainly in Asia Pacific region
- The specialty feed additives market is also facing several constraints such as increased regulations and lack of awareness of specialty feed additives for people living in remote areas
“With commercial productivity directly linked to an animal’s overall health, burgeoning applications of specialty feed additives combined with the participation of numerous additive manufacturers is going to boost the global market during the forecast period” says the study analyst
Specialty Amino Acids to Act as New Growth Levers
The specialty feed additives market is moderately consolidated with a few top-tier companies staking their claim on market share.
Asian manufacturers are looking forward to take extra steps to concentrate on specialty amino acids that are intrinsically high value and can be marketed at higher prices.
The stakeholders involved in the market are set to actively seek input, feedback and broaden support from investors along the value chain of specialty feed additives.
With manufacturing firms maintaining their position in the global market, most businesses are growing their market presence by obtaining new contracts and tapping new markets.
These insights are based on a report on Specialty Feed Additives Market by Fact.MR.