Growing consumption of dairy products with urbanization is expected to provide opportunities for the specialty feed additives market growth
The global specialty feed additives market surpassed USD 7.60 billion in 2019 and is expected to rise at a CAGR of 5.43% by the end of 2028. Specialty feed additives, typically used as a food substitute, are intended for farm animals. Their primary purpose is to compensate for the lack of nutrients that farm animals do not obtain from their daily diet, so as to provide them with immunity and improved overall health. Vitamins and minerals, fatty acids, and amino acids are some of the more popular feed additives in specialties. One of the main differences in feed additives is that it does not only meet dietary needs but is sanitary, easy to consume and has a positive impact on the intestinal health of the animal, too.
The primary factor contributing to the booming rise in global demand for specialty feed additives is the currently high disease infliction rate among typical farm animals. Increasingly, people and corporations that handle certain products have to guarantee they are not vulnerable to viruses, harmful bacteria and pests for economic viability closely linked to animals' health. But the general lack of knowledge among the world's most individual farmers, especially in developing economies, where agriculture and cattle are the main part of the region’s economics, currently reduces the global demand for specialty feed added goods. Another challenge hampering the growth rate of specialist feed additives on the world market is the higher raw materials and manufacturing costs compared to normal feedstock. Advances in engineering and the use of improved raw materials could overcome this issue in the coming years.
Asia Pacific is projected to be a promising area of interest for players in the global feed additives sector, with a large economic dependence on agriculture and cattle. North America and Europe respectively have a higher market share thanks to their increased visibility and better distribution of specialist feed additives. A greater quotient of global actors shows tremendous interest in penetrating the regions as the population on development markets, technology improvement and agricultural facilities grows.
The specialty feed additives markets of China, India, and Japan are expected to rise in demand in the coming years due to these countries' increased buying power. As a result, their financial advance is projected to play a crucial role in the global market for specialty feed additives.
Segment Overview of Global Specialty Feed Additives Market
Key Segments of the Global Specialty Feed Additives Market
Type Overview, 2018-2028 (USD Million) (Kilo Tons)
- Flavors & Sweeteners
Function Overview, 2018-2028 (USD Million) (Kilo Tons)
- Gut Health & Digestive Performance
- Mycotoxin Management
- Palatability Enhancement
- Preservation of Functional Ingredients
Livestock Overview, 2018-2028 (USD Million) (Kilo Tons)
- Aquatic Animals
Regional Overview, 2018-2028 (USD Million) (Kilo Tons)
- Rest of Europ
- Rest of Asia-Pacifi
Middle East and Africa
- South Africa
- Rest of Middle East and Afric
- Rest of South America