Specialty Feed Additives Industry is Projected to Achieve a CAGR of 5.5% by the End of 2031, Finds Fact.MR Report
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FACT.MR
Specialty Feed Additives Market Report By Feedstock (Binders, Acidifiers, Minerals, Antioxidants, Vitamins), By Form (Dry, Liquid), By Functionality (Palatability Enhancement, Mycotoxin Management, Preservation of Functional Ingredients) & Regional Forecast 2021-2031
United States, Rockville MD, April 12, 2022 (GLOBE NEWSWIRE) -- According to a recently published Fact.MR report, the global Specialty Feed Additives market is projected to grow at a compound annual rate (CAGR) of 5.5% between 2021 and 2031. The market is expected to reach US$ 18.4 Bn by the end of 2031.
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Historical performance reveals that the market expanded at a steady pace, at a CAGR of 5% from 2016-2020. Demand further increased during the COVID-19 pandemic, given the zoonotic nature of the disease. Although global meat trade has declined by 4% since its outbreak, there is a significant proportion of people consuming meat products, hence sustaining demand for specialty feed additives.
It is anticipated that global demand for animal products is projected to increase by 60-70% by 2050. Presently, approximately 800 million tons of cereals, or 1/3rd of global cereal production, are used in animal feed. This number is projected to rise to over 1.1 billion tons by the next three decades. Consequently, the need to incorporated specialty feed additives will increase manifold in forthcoming years.
Rising Frequency of Zoonotic Diseases to Enhance Specialty Feed Uptake? Recent years have seen an explosion of various zoonotic diseases across the world. Various categories of bacterial, viral or parasitic infections have been documented amongst animals of all species. In addition, their prevalence has posed a major threat to human existence as well, the well-documented instance of the same being the current COVID-19 pandemic.
According to the World Health Organization, zoonoses comprise a large percentage of all newly identified infectious diseases, with some infections such as HIV beginning as zoonosis and later mutating into human-only strains. Consequently, efforts are underway to mitigate this incidence across the world.
Based on this development, the need to incorporate specialty feed additives and ingredients in animal feeds has acquired paramount importance. In January 2021, Novus International partnered with Agrivida, to leverage its technology of embedding feed additives directly into corn grown for production animals. By having the additive inside of the grain, the molecules are more efficiently absorbed, and producers can improve both animal performance and their bottom line.
Key Segments Covered in the Specialty Feed Minerals Industry Survey Feedstock
Specialty Feed Binders
Specialty Feed Acidifiers
Specialty Feed Minerals
Specialty Feed Antioxidants
Specialty Feed Flavors & Sweeteners
Specialty Feed Vitamins
Other Specialty Feed Additives
Form
Dry Specialty Feed Additives
Liquid Specialty Feed Additives
Functionality
Specialty Feed Additives for Palatability Enhancement
Specialty Feed Additives for Mycotoxin Management
Specialty Feed Additives for Preservation of Functional Ingredients
Specialty Feed Additives for Other Functionalities
Competitive Landscape
Primary focus of leading manufacturers of specialty feed additives is on introducing novel product lines into the global market. Besides this, players are reliant on strategic partnerships with existing entities to enhance their production capacities. Notable developments in the market as follows:
In September 2021, Koninklijke DSM NV announced its strategic decision to fully focus on its resources and capabilities, by establishing an independent animal nutrition & health business group, focusing entirely on specialty solutions for a radical, yet achievable, transformation in the sustainability of animal protein production.
In March 2019, BASF SE introduced a new phytase, Natuphos E, to unlock vital nutrients for the feed industry in Indonesia. Natuphos E helps animals better utilize important nutrients- rendering livestock feed more cost effective and environmentally friendly.
Key players in the Liquid Specialty Feed Additives Market
Koninklijke DSM N.V.
DuPont de Nemours Inc.
BASF SE
Evonik Industries
Novozymes A/S
Nutreco N.V.
Novus International
Akzo Nobel Surface Chemistry AB
Kemin Industries Inc.
Key Takeaways from the Dry Specialty Feed Additives Market Study
Based on feedstock, acidifiers to enjoy maximum growth, at 6% CAGR, yielding US$ 550 Mn absolute opportunity
Palatability enhancement to emerge as one of the primary functionality of specialty feed additives, registering a 4.5% CAGR
U.S to be the fastest growing market, registering a CAGR of 5% through 2031
China to be the dominant market in Asia, capturing 35% of total market revenue
Preference for dry specialty feed additives to remain, accumulating a revenue share of 30%
Global market for specialty feed additives to reach US$ 10.8 Bn by 2021
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More Insights Available Fact.MR, in its new offering, presents an unbiased analysis of the Specialty Feed Additives Market, presenting historical demand data (2016-2020) and forecast statistics from 2021 to 2031.
The study divulges essential insights on the market based on feedstock (binders, acidifiers, minerals, antioxidants, flavours & sweeteners, vitamins & others), form (dry and liquid) and functionality (palatability enhancement, mycotoxin management, preservation of functional ingredients and others) across seven regions (North America, Latin America, Europe, South Asia, Oceania and Middle East & Africa).
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