Specialty Feed Additives Market to Grow Steadily with Heightened Uptake of Poultry and Dairy Products
The global specialty feed additives market is estimated to grow at a modest CAGR of over 5% during the forecast period (2019-2027) and reach a valuation of over US$ 14.5 Bn on the back of growing focus on sustainability of animal nutrition products across the developed as well as developing regions.
Increasing focus on immunity of farm animals along with changing preferences of customers for different flavors is anticipated to create remunerative and incremental opportunities in specialty feed additives market.
Over the last decade, the overall population across key regions has increased significantly, resulting in increased consumption of poultry, milk, meat, and dairy products. The global demand for meat along with dairy products is projected to increase at a steady growth rate over the forecast period, which in turn, is expected to amplify demand for specialty feed additives.
Acidifiers to Witness an Absolute Opportunity of US$ 550 Mn, with Ban on Antibiotics
The acidifiers segment is expected to be the most lucrative during the forecast period, with a growth rate of about 6%. Acidifiers are gaining wide acceptance in modern poultry farming to cure diseases such as ascites caused by microbial invasion. Animal feed acidifiers are organic acids which are used for nutritional or preservative purposes in feed.
They help control microbial growth, decrease feed buffer ability, inhibit pathogenic bacteria and also improve digestibility of the nutrients. The growing awareness among farming personnel to protect farm animals from harmful bacteria and parasites through acidifiers is providing growth opportunities in specialty feed additives market over the forecast period.
However, higher prices of raw materials and higher production cost as compared to normal feed additives might hamper growth prospects
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Asia Pacific to Remain a Frontrunner with Fast Growing Agricultural Sector
The specialty feed additives market is mainly concentrated in the Asia Pacific region due to rising demand of meat and other meat based products in this region. With a fast growing animal feed industry, and a growing industrial manufacturing sector, the specialty feed additives market in the Asia Pacific contributed more than 35% of total revenue in 2019.
A higher percentage in market share in North America and Europe area is expected over the forecast period due to easier availability of specialty feed additives.
In addition, enhanced knowledge of animal feed products and increasing agricultural infrastructure, is pushing a considerable quotient of global players to show high interest in penetrating this region for the specialty feed additives market in the coming years.
Emerging Competitors Developing Novel Varieties to Attract a Larger Consumer Base
The global specialty feed additives market is moderately consolidated with few multinational conglomerates such as DSM, DuPont, BASF SE and Evonik Industries occupying the largest shares.
Emerging competitors in the specialty feed additives market are facing numerous constraints such as increased regulations, increased production costs and subdued awareness among consumers. As a result, their prime focus is the strategic launch of novel products. Some of the key developments in the specialty feed additives market are:
- On 13th June 2019, DSM launched Balancius in Europe which is one of a kind specialty feed ingredient that breaks down peptidoglycans (PGNs) in bacterial cell debris, discharging nutrients and uncovering secret gastrointestinal usability potential.
- On 7th December 2018, Nutreco signed an agreement with The Heritage Group to acquire the global leader in trace minerals. The acquisition will allow Nutreco to further expand its portfolio of Selko Specialty Feed Additives.
Key industry competitors are participating in a collaborative effort in the emerging regions to increase their market strength in specialty feed additives. Changing consumer preferences from normal feed additives to specialty feed additives are allowing key competitors to upgrade their portfolio of specialty feed additives.
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Global Specialty Feed Additives Market: In-Depth Assessment on Key Segments
The global specialty feed additives market is segmented on the basis of feedstock, form, functionality and region.
Country-specific assessment on demand for specialty feed additives has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous specialty feed additives manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
Global Specialty Feed Additives Market – Scope Of The Report
The following report provides forecast and analysis of the global specialty feed additives market along with the historical data of 2013, estimated data 2019 and forecast data up to 2027 in terms of revenue (US$ Mn) and volume (Kilo Tons), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global specialty feed additives market along with several macro-economic indicators.
This newly published and insightful report on specialty feed additives sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global specialty feed additives market.
The report also comprises the study of current issues with end users and opportunities for specialty feed additives. It also contains value chain analysis, including the key market participants.
To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of specialty feed additives manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the specialty feed additives market provided in the report adds to the credibility of this exhaustive research study.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates.
The report provides detailed competitive and company profiles of key participants operating in the global market. Some of the major competitors operating in the specialty feed additives market are Koninklijke DSM N.V., DuPont, BASF SE, Evonik Industries, Novozymes A/S, Nutreco N.V. and others.
Global Specialty Feed Additives Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research. The report also includes a description of assumptions and acronyms utilized for research purposes.
Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the specialty feed additives market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the specialty feed additives market, which includes global GDP growth rate, various industries growth rate, such as the food & beverages and animal feed industry.
This report serves as an authentic resource of intelligence on the specialty feed additives market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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