Specialty feed additives play an important role in maintaining digestive health, enhancing the palatability, and several other functions. They include an array of products such as flavors and sweeteners, vitamins, minerals, acidifiers and antioxidants. Rise in meat consumption and growing concern over the meat quality are the major factors influencing the market. Spike in density of urbanized and highincome level consumers in Asiapacific region also drives the market. In addition, the outbreak of livestock diseases is another factor influencing the market significantly, which is often accompanied by sudden public panic and increased regulations. The buyers in compound feed industry tend to increase their focus on feeding the livestock with special ingredients to strengthen the immune system thereby preventing from diseases. Hiking emphasis on feeding the livestock with specialty feed additives would increase the consumption rate of Special feed ingredients.
The market also faces several constraints that include increasing regulations and lack of awareness about the special additives to people residing in remote areas. European Union is observed to have higher stringency for animal feed regulations across the globe. The regulations are moreover undefined and are prone to rapid volatility. . South America represents a growing market, as nations like Argentina and Brazil are gaining prominence as livestock exporters. Despite occupying a minor market share during the forecast period, Africa is expected to perform well in the future as the livestock sector gets more industrialized. The highly competitive nature of the market implies high RD investments and quick product innovation.
The future potential of this sector lies in expanding the present scope of the market, by reducing the average price of the product available in the market and expanding the foot prints in emerging economies. Countries like India, Brazil, and South Africa are adopting a more industrial and commercial approach to farming. This move away from the traditional subsistence farming is expected to open several opportunities.
The identification of sustainable and lowcost solutions is considered crucial in expanding the present range of the market. Many product categories, such as organic acids, are witnessing a rapid growth through the development of new and effective blends.
Major Players: CARGILL Corporation, KEMIN INDUSTRIES, NUTRECO, BASF SE and ALLTECH INC amongst others.
RECENT DEVELOPMENTS:
DECEMBER,2017: ADM Animal Nutrition, a division of Archer Daniels Midland Co. ADM, has announced that the company will launch a new specialty feed additive named Anco AC for Swine, Poultry and dairy producers operating in the Canadian Market. Developed in partnership with Austriabased Anco Animal Nutrition Competence GmbH, Anco AC is an anticaking agent and yeast primary used in all phases of production across multiple species. It is designed to allow animals to deal more efficiently with nutritional stressors in their feed.
Reasons to Purchase this Report:
Provides latest insights into the specialty feed additivesindustry.
Gives a detailed analysis of the competitive landscape in the specialty feed additives market
Analyzes the market scenario with the help of Porter's Five Forces Analysis.
Forecasts the market volume and value by assessing the impact of the market drivers and constraints.
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