Global Specialty Feed Additives Market: Overview
Specialty feed additives are meant for farm animals, commonly as a food supplement. Their primary goal is to make up for the lack of nutrients that farm animals do not receive from their regular diet, in order to provide them immunity and overall better health. Some of the more common specialty feed additives include vitamins and minerals, fatty acids, and amino acids. One of the key differences between regular feed additives and specialty feed additives is that the latter not only caters to nutritional requirement, but is also hygienic, easy to digest, and has a positive impact on the intestinal health of the animal.
This research report on the global specialty feed additives market provides a holistic snapshot of the market’s current events and statistics. It then moves into imparting predictive knowledge to its readers regarding the way the market is likely to shape itself over the coming years. The forecasts provided in the report are generated using tried and tested research methodologies that are aimed at finding out the core details of the market that all users can benefit from. These include Porter’s Five Forces analysis for the global specialty feed additives market’s drivers, restraints, and threats from new entrants and substitutes. It also includes a SWOT analysis for the market’s competitive landscape.
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Global Specialty Feed Additives Market: Trends and Opportunities:
The primary factor attributed to the booming growth of the global specialty feed additives market is the currently high rate of disease infliction within common farm animals. With commercial profitability directly related to the overall health of the animals, it is becoming extremely important for individuals and companies managing these animals to ensure that they do not fall prey to illnesses, harmful bacteria, and parasites. However, the global specialty feed additives market is currently being restrained by the overall lack of awareness among the more individual farms across the world, and especially in emerging economies, where agriculture and livestock form the bulk of the region’s economy. Another issue hampering the growth rate of the global specialty feed additives market is the higher costs of raw materials and production, as compared to regular feedstock. Advancements in manufacturing and the use of better raw materials could resolve this issue over the coming years.
The global specialty feed additives market can be segmented based on types, into flavors and sweeteners, antioxidants, binders, minerals, vitamins, and a collective segment of minority elements such as enzymes and complex carbohydrates. The global specialty feed additives market can be segmented on the basis of livestock, into ruminants, poultry, swine, and aquatic animals. Of these, the demand for specialty feed additives for poultry animals has been found to be the leading livestock segment in the global market. Acidifiers are expected to bag the top spot in the category of specialty feed additive types.
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Global Specialty Feed Additives Market: Region-wise Outlook:
Asia Pacific, with is vast economic dependence on agriculture and livestock, is expected to be a highly promising region of interest for players in the global specialty feed additives market. A greater percentage of the market share is currently held by North America and Europe, thanks to better awareness and easier availability of specialty feed additives. With the growing population in emerging economies, improvements in knowledge and agricultural infrastructure, a larger quotient of global players are showing high levels of interest in penetrating these regions.
The specialty feed additives markets of India, China, and Japan are expected to explode in terms of demand growth over the coming years, thanks to the improving purchasing power of these countries. Their economic advancement is therefore expected to play a pivotal role in the global specialty feed additives market for the report’s given forecast period.
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Companies Mentioned in the Research Report:
The leading players in the global specialty feed additives market currently include BASF SE, Novus International, Evonik Industries, DSM, Akzo Nobel Surface Chemistry AB, Nutreco N.V., Novozymes A/S, Kemin Industries Inc., Brookside Agra, Invivo NSA, Biomin Holding GmbH, and Chr. Hansen Holdings A/S.
Key segments of the Global Specialty Feed Additives Market:
Global Specialty Feed Additives Market, by Feedstock:
- Minerals
- Binders
- Vitamins
- Acidifiers
- Flavors & Sweeteners
- Antioxidants
- Others
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