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 such as encapsulation of acidifiers. The high growth potential in emerging markets and untapped regions such as the Latin American countries provide new growth opportunities to the market players.
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 an increase in the purchasing power of the population.
Among the types of specialty feed additives, the acidifiers Segment is projected to be the fastest-growing from 2016 to 2022. Currently, acidifiers are gaining popularity in modern poultry farming to cure diseases such as ascites, which are triggered by different microbes (E. coli and Salmonella). A variety of acidifiers are blended with the feed in varying quantities, depending on the requirements of the livestock and its impact on the animals.
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On the basis of form, the liquid segment is the largest segment and was followed by the dry segment in 2015. The liquid segment is projected to grow at the highest CAGR from 2016 to 2021. The liquid form is preferred due to its ease of handling & mixing with the animal feed. The Asia-Pacific region is projected to be the fastest-growing in the specialty feed additives market. Growth in population, rise in disposable incomes, progressive urbanization, and increase in demand for quality animal products have spurred the demand for specialty feed additives.
The key players in this market have been developing a range of innovative products to target specific needs of the end users of specialty feed additives. They continue to expand and invest to increase their market share across different countries. These players also enter into numerous new product launches, expansions, and agreements with leading and other local companies, to enhance and strengthen their geographic reach. The key players in the market include BASF SE (Germany), Evonik Industries (Germany), Novozymes A/S (Denmark), Nutreco N.V. (Netherlands), and Alltech Inc. (U.S.). Other players in this market include Chr. Hansen Holdings A/S (Denmark), Invivo NSA (France), BIOMIN Holding GmbH (Austria), Lucta S.A. (Spain), and Kemin Industries Inc (U.S.).
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