Rockville, Feb. 16, 2023 (GLOBE NEWSWIRE) -- A recent research study from Fact.MR on the market for specialty feed additives provides a thorough analysis of the industry's top segments in terms of feedstock, form, functionality, and region. It also gives in-depth details on important players and the crucial tactics they leverage to achieve a competitive edge.
Fact.MR – A Market Research and Competitive Intelligence Provider: The global specialty feed additives market is predicted to propel at a steady CAGR of 5.2% from 2023 to 2033. Right now, the market is valued at US$ 12.3 billion, and its acceleration over the next decade is likely to result in US$ 20.5 billion in 2033.
The trend of using animal sourced protein in the form of milk and eggs is growing rapidly, creating demand for specialty feed additives. This trend is a result of the increasing awareness of the health benefits of these proteins for humans as well as animals.
Studies have shown that animal sourced proteins are more nutrient-dense than plant-based proteins and can be easily digested by animals. Consumption of these proteins can also help reduce the risks of developing certain diseases and disorders.
This increasing demand for animal sourced proteins is creating a need for specialty feed additives, which can be used to supplement the diet of animals and ensure optimal nutrient absorption.
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For instance, various specialty feed additives contain important vitamins and minerals, such as Vitamin A and zinc, which are essential for proper growth and development of animals. These feed additives can also improve the digestibility of feed, allowing animals to make better use of the nutrients they are receiving.
Based on feedstock, acidifiers based feed additives are set to lead the global market from 2023 to 2033, because they work well in promoting gut health by regulating intestinal flora. They also help an animal's general digestion and immunological system while reducing dangerous microorganisms. To support productive animal growth, feed products for poultry and horses are also increasingly including macro minerals such as salt and calcium.
Regionally, Asia Pacific specialty feed additives market is increasing at significant rate during the forecast. Because of the region's substantial reliance on cattle and the quickly expanding need for animal protein. The cattle industry in the industrialized markets of the West strives towards sustainable production, which will lead to low costs and high quality.
Key Takeaways:
- China is poised to hold a share of 35% in the global market for specialty feed additive from 2023 to 2033.
- The United States market is poised to expand at a steady CAGR of 5% between 2023 and 2033.
- Europe accounts for a significant revenue in the global market for specialty feed additives.
- Based on functionality, palatability enhancement sector is slated to increase at a CAGR of 4.6% between 2023 and 2033.
- By feedstock, acidifiers are estimated to account for a sizeable share in the global market for specialty feed additives.
Growth Drivers:
- Growing need for organically produced feed and feed additives, as well as meat product uniformity, should stimulate demand.
- Increasing awareness of the advantages of using specialty feed additives among consumers is poised to promote acceleration.
- Rising demand for livestock products such as dairy and eggs is likely to generate development opportunities.
Restraints:
- The global market for specialty feed additives may experience slow development as a result of various countries' bans on antibiotics.
- The health of humans may be negatively impacted by specialty feed additives, and allergic responses in particular are likely to impede growth.
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Competitive Landscape:
Manufacturers are looking to produce high-quality feed additives to meet demand. They are focused on products that can increase milk and egg production. They are also offering feed additive products that help animals to metabolize proteins more efficiently, improving the nutritional content of milk and eggs. These companies also looking to introduce specialty feed additives that are natural and organic.
Manufacturers are introducing feed additives that contain prebiotics and probiotics, which help to improve the digestive health of animals. This helps to increase their nutrient absorption and improve the overall quality of the milk and eggs produced. There is also an emphasis on innovative technology to improve the efficacy of their feed additives.
For instance,
- In January 2023, Purina Animal Nutrition introduced Purina® EnduraSow and Purina® EnduraPig, two new feed additives designed to improve sow performance and reproductive efficiency as well as piglet respiratory health and immunological function throughout the post-weaning phase.
- In January 2021, Azelis, a top distributor of specialized chemicals and food additives, announced that it has joined forces with Perstorp, a world authority on the specialty chemical and feed additives markets, to portray them in the United Kingdom for their line of animal nutrition products, including acidifiers, preservatives for grains, and solutions for feed hygienic practices and digestive health.
- In December 2020, Dutch feed additive business FRAmelco Group was fully acquired by Bluestar Adisseo Company. This deal advanced Adisseo's goal of leading the field of specialized animal feed additives on a global scale.
Companies Profiled by Fact.MR
- Chr. Hansen Holdings A/S
- Koninklijke DSM N.V.
- Brookside Agra
- Evonik Industries
- Nutreco N.V
- Novus International
- DuPont de Nemours Inc.
- BASF SE
- Akzo Nobel Surface Chemistry AB
- Kemin Industries Inc.
- Neovia Group
- Novozymes A/S
More Valuable Insights on Specialty Feed Additives Market
In the latest study, Fact.MR offers a detailed study on global specialty feed additives market for the forecast period of 2023 to 2033. This study also highlights key drivers promoting the sales of specialty feed additives through detailed segmentation as follows:
By Feedstock:
- Binders
- Acidifiers
- Minerals
- Antioxidants
- Flavors & Sweeteners
- Vitamins
- Other Specialty Feed Additives
By Form:
- Dry
- Liquid
By Functionality:
- Palatability Enhancement
- Mycotoxin Management
- Preservation of Functional Ingredients
- Other Functionalities
By Region:
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Key Questions Covered in the Specialty Feed Additives Market Report
- What is the projected value of the specialty feed additives market in 2023?
- At what rate will the global specialty feed additives market grow until 2033?
- Which are the factors hampering the growth in the specialty feed additives market?
- Which region is expected to lead in the global specialty feed additives market during 2023-2033?
- Which are the factors driving the specialty feed additives market during the forecast period?
- What is the expected market value of the specialty feed additives market during the forecast period?
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