At 7.5% CAGR, Specialty Feed Additives Market expected to boost more than USD 16.78 Billion by 2028-Zion Market Research

North America accounted for 21% of the global Specialty Feed Additives Market share in 2020, as North America is extremely competitive and consolidated

SUITE N202, NEW YORK, UNITED STATES, September 14, 2022 /EINPresswire.com/ -- Global Specialty Feed Additives Market is highly competitive² as the key players are involved in the development of strategies such as partnerships. The presence of important players defines the competitive landscape of the market. The major market players have distribution channels and production facilities all over the world. New entrants have found it difficult to develop a foothold in the industry due to the existence of dominating incumbents. New and potential businesses, on the other hand, have been investing in R&D operations in order to compete in the business.

The key players of the global specialty feed additives market are BASF SE, Novus International, Evonik Industries, DSM, AkzoNobel 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.

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The trend of Health Consciousness Spur Market Growth

The most important factor accredited to the thriving growth of the global specialty feed additives market is presently at high rate of disease infliction in common farm animals. With commercial prosperity directly associated largely to health of the animals, it is becoming tremendously significant for companies and individuals running and managing these animals to make sure that they do not fall victim to harmful bacteria, illnesses, and parasites. On the other hand, the global specialty feed additives market is being controlled by the overall lack of knowledge amongst the individual farms across the globe, and particularly in rising economies, where livestock and agriculture form the bulk of the region’s financial system. Another matter hampering the development rate of the global specialty feed additives market is the high costs of production and raw materials, as compared to normal feedstock.

Global Specialty Feed Additives Market: Regional Analysis

The Asia Pacific region is projected to grow at a CAGR of 9.3% over the forecast period.

Asia Pacific, with is huge economic region dependent on livestock and agriculture, is anticipated to be a highly capable province of interest for major key players in the global specialty feed additives market. A larger percentage of the market share is at present held by Europe and North America; this is due to better understanding and easier accessibility of the global specialty feed additives. With the increasing population in up-and-coming economies, improvements in information and agricultural infrastructure, a better measure of the key global players are present ting high levels of interest in these regions. With a large economy based on livestock and agriculture, Asia Pacific is expected to be a highly capable area of interest for major participants in the global specialty feed additives market. Due to strong economic growth in rising economies such as China, Indonesia, and India, the region has seen a significant increase in demand. The growing population and growing living standards have boosted regional meat demand, which is expected to continue to increase product demand.

The specialty feed additives markets of China, India, and Japan are anticipated to grow in terms of demand in the coming years due to the improvement in purchasing power of these countries. Their financial advancement is as a result anticipated to play an essential role in the global specialty feed additives market.

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The global Specialty Feed Additives Market is segmented as follows:

By Function

Gut Health & Digestive Performance
Mycotoxin Management
Palatability Enhancement
Preservation of Functional Ingredients
Others

By Livestock

Swine
Ruminants
Poultry
Aquatic Animals
Pork
Others

By Product

Amino Acids
Vitamins
Antibiotics
Antioxidants
Acidifiers
Enzymes
Others

By Region

North America

The U.S.
Canada

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC
South Africa
Rest of Middle East & Africa

COVID-19 Impact Analysis

More than 100 nations have been affected by the COVID-19 epidemic, which will have a substantial impact on the compound feed and additives market in 2020. The coronavirus disease (COVID-19) pandemic is spreading rapidly and claiming human lives all over the world. To slow the spread of the virus and save lives, lockdowns, isolation, and broad closures are required. The coronavirus outbreak is having an influence on worldwide economic activity. Because feed is such an important component in the development of various livestock animals, feed additives are an important component in the manufacture of nutrition-fortified feed. This nutrient-rich feed aids animals in maintaining their health, reproduction, lactation, and brand equity. The raw ingredient supply chain has been influenced by the pandemic and lockdown, affecting consumption and manufacturing patterns around the world. Because animals cannot acquire enough nourishment from conventional feed, feed additives containing vitamins, fatty acids, amino acids, and trace minerals are added to their daily meal.

Growth Factors

The major growth factors of Specialty Feed Additives Market are: Infectious illness is prevalent in typical farmed animals at a high rate, the current high rate of disease infliction in common farm animals is the most essential element attributed to the thriving expansion of the worldwide specialty feed additives market. With animal health being so closely linked to commercial success, it is becoming increasingly important for firms and individuals that own and manage these animals to ensure that they are free of hazardous infections, diseases, and parasites.

Innovations in animal husbandry, Increased cost efficiency, enhanced animal welfare, improved working conditions, better production monitoring and improved provision of essential production data are just a few of the advantages of new technology. Electronic records, milking, heat detection walk-over-weighing, auto-drafting, genetic improvement, feeding, barn environment optimization, and health recording are some of the primary technologies that livestock farmers require.

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Varsharani Lavate
Zion Market Research
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² https://www.zionmarketresearch.com/report/specialty-feed-additives-market
³ https://www.zionmarketresearch.com/buynow/su/specialty-feed-additives-market