Newly published data by market research provider Fact.MR reveals that demand for specialty feed additives will surge at a CAGR of 5.5% from 2021-2031, reaching US$ 18.4 Bn in value. Emergence of food borne diseases, which are largely zoonotic, are prompting increased incorporation of feed additives in recent years.
Historical performance reveals that the market expanded at a steady pace, at a CAGR of 5% from 2016-2020. Demand further increased during the COVID-19 pandemic, given the zoonotic nature of the disease. Although global meat trade has declined by 4% since its outbreak, there is a significant proportion of people consuming meat products, hence sustaining demand for specialty feed additives.
It is anticipated that global demand for animal products is projected to increase by 60-70% by 2050. Presently, approximately 800 million tons of cereals, or 1/3rd of global cereal production, are used in animal feed. This number is projected to rise to over 1.1 billion tons by the next three decades. Consequently, the need to incorporated specialty feed additives will increase manifold in forthcoming years.
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Key Takeaways from the Market Study
- Based on feedstock, acidifiers to enjoy maximum growth, at 6% CAGR, yielding US$ 550 Mn absolute opportunity
- Palatability enhancement to emerge as one of the primary functionality of specialty feed additives, registering a 4.5% CAGR
- S to be the fastest growing market, registering a CAGR of 5% through 2031
- China to be the dominant market in Asia, capturing 35% of total market revenue
- Preference for dry specialty feed additives to remain, accumulating a revenue share of 30%
- Global market for specialty feed additives to reach US$ 10.8 Bn by 2021
“Increasing scramble to develop more novel specialty feed additives is broadening scope for the market, with prominent manufacturers initiating numerous R&D projects,” comments a Fact.MR analyst.
How is Rising Meat Production Broadening Scope across the U.S?
In terms of global consumption, the U.S is amongst the largest consumer of specialty feed additives. Growth in the meat industry will cater to the demand for specialty feed additives in U.S.
As recognized by the Food & Drug Administration, animal feed additives are classified under Generally Recognized as Safe (GRAS), which ensures that animal food quality meet the required standards. Soaring meat & meat products consumption has led to rise in incorporation of various additives such as vitamins, and organic and inorganic trace minerals, which will augment demand.
Growing fondness for processed food and upsetting obligation to improve food security is driving the aquaculture sector, which in turn is predicted to positively influence the country’s animal feed additive market in the coming years. Fact.MR predicts the U.S market to surge at a CAGR of 5% until 2031.
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Competitive Landscape
Primary focus of leading manufacturers of specialty feed additives is on introducing novel product lines into the global market. Besides this, players are reliant on strategic partnerships with existing entities to enhance their production capacities. Notable developments in the market as follows:
- In September 2021, Koninklijke DSM NV announced its strategic decision to fully focus on its resources and capabilities, by establishing an independent animal nutrition & health business group, focusing entirely on specialty solutions for a radical, yet achievable, transformation in the sustainability of animal protein production.
- In March 2019, BASF SE introduced a new phytase, Natuphos E, to unlock vital nutrients for the feed industry in Indonesia. Natuphos E helps animals better utilize important nutrients- rendering livestock feed more cost effective and environmentally friendly.
Key Market Players:
- Koninklijke DSM N.V.
- DuPont de Nemours Inc.
- BASF SE
- Evonik Industries
- Novozymes A/S
- Nutreco N.V.
- Novus International
- Akzo Nobel Surface Chemistry AB
- Kemin Industries Inc.
- Brookside Agra
- Neovia Group
- Hansen Holdings A/S
Key Segments Covered
Feedstock
- Specialty Feed Binders
- Specialty Feed Acidifiers
- Specialty Feed Minerals
- Specialty Feed Antioxidants
- Specialty Feed Flavors & Sweeteners
- Specialty Feed Vitamins
- Other Specialty Feed Additives
Form
- Dry Specialty Feed Additives
- Liquid Specialty Feed Additives
Functionality
- Specialty Feed Additives for Palatability Enhancement
- Specialty Feed Additives for Mycotoxin Management
- Specialty Feed Additives for Preservation of Functional Ingredients
- Specialty Feed Additives for Other Functionalities
Key Points Covered in Specialty Feed Additives Industry Survey
- Market Estimates and Forecasts 2016-2031
- Key drivers and restraints shaping market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on Specialty Feed Additives and How to Navigate
- Recommendation on a Key Winning Strategy
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