Factors Driving the Specialty Feed Additives Market

The report "Specialty Feed Additives Market by Type (Flavors & Sweeteners, Minerals, Binders, Vitamins, Acidifiers, Antioxidants), Livestock (Swine, Ruminants, Poultry, Aquatic Animals), Function, Form, and Region - Global Forecast to 2022", The specialty feed additives market is projected to reach a value of USD 11.12 Billion by 2022, at a CAGR of 5.43% from 2016. The market is driven by factors such as  rise in consumption of animal products,  increase in incidences of disease outbreaks in livestock, adverse impact on the environment due to the emission of greenhouse gasses by the livestock, and innovations in animal husbandry. 

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On the basis of type, the global market is segmented into flavors & sweeteners, minerals, binders, vitamins, acidifiers, antioxidants, and others (feed PAA, enzymes, probiotics, prebiotics & complex carbohydrates). The flavors & sweetners segment accounted for the largest market share in 2015, followed by minerals. The acidifiers segment is projected to grow at the highest CAGR during the forecast period.

The swine segment, on the basis of livestock, is projected to grow at a significant rate during the forecast period. With increase in pork trade and concerns over food security, the demand for specialty feed additives is expected to increase to ensure better meat quality and safety.

On the basis of form, the specialty feed additives market is segmented into liquid, dry, and others (pellets and dust/powder forms). The liquid  segment is projected to grow at the highest CAGR during the forecast period. Liquid specialty feed additives are gaining popularity  because of their low cost.

On the basis of function, the global market is segmented into gut health & digestive performance, mycotoxin management, palatability enhancement, preservation of functional ingredients, and others (greater dry matter intake and increased capacity for nutrient absorption).Palatability enhancement is projected to be the fastest-growing from 2016 to 2022. Palatability enhancement of the feed leads to high feed intake by the livestock. Thus,  it is gaining a substantial position in this market.

The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period, owing to the increase in demand for animal products. Growth in population, rise in disposable incomes, progressive urbanization, and  increase in demand for quality meat products have driven the market for specialty feed additives. Growth is majorly witnessed in China, India, and Japan, owing to increase in the purchasing power of the population.

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The major restraints of the specialty feed additives market include harmful effects of rising operational  & raw material costs, and inconsistency in regulatory structure. The specialty feed additives market has a number of large and small-scale firms. Agreements and investments were the key strategies adopted by market players to ensure their growth. Players such as BASF SE (Germany), Evonik Industries (Germany), Novozymes A/S (Denmark), Nutreco N.V. (Netherlands), and Alltech Inc. (U.S.) collectively accounted for the largest share of this market.

Target Audience:

The key stakeholders for the report are as follows:

• Specialty feed additive manufacturers

• Specialty feed additive importers and exporters

• Government regulatory authorities and research organizations

• Feed additives associations and industry bodies