Largely influenced by increasing significance of boosting immunity in farm animals, the global specialty feed additives market will continue to see a healthy growth outlook over 2019 – 2027. Also driven by rising demand for specific flavor profiles in meat, dairy, and poultry products, sales of specialty meat additives are projected to exceed $14 billion in 2027.
A new Fact MR study has indicated that heightening demand for meat and dairy commodities will contribute substantially to the growth of specialty feed additives market in the near future.
“With commercial productivity being directly linked to overall health of farm animals, there would be a notable rise in application of specialty feed additives. With growing participation of specialty feed additive manufacturers in global landscape, the market is set for promising growth prospects,” concludes Fact.MR.
Key Takeaways from Specialty Feed Additives
- Higher investments in R&D is resulting in production of specialty feed additives, with better nutritional content.
- Specialty feed additives market is in Asia Pacific is highly dynamic owing to the rising demand for meat and meat products in this region.
- Acidifiers continue to witness high demand, majorly driven by application in poultry industry.
- Asia-based specialty feed additive manufacturers are developing interest in amino acid based offerings to bolster profitability.
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- Steady growth rate of the meat, dairy, and poultry products industry sustains market growth.
- Higher demand for specialty feed additives if arising from the increasing global focus on sustainability in animal nutrition products.
- Changing consumer preferences for unique flavor profiles in meat and dairy products will boost consumption of specialty feed additives.
- Easier availability of raw materials continues to benefit specialty feed additives market in North America and Europe.
- High price point of raw materials continues to restrict growth prospects of acidifier additives.
- Stringent regulatory framework, low consumer awareness, and expensive production costs continue to challenge new market entrants.
- Antimicrobial resistance of livestock stands as a major roadblock for manufacturers of specialty feed additives, which further calls for augmented investments in R&D.
The global specialty feed additives market continues to represent a consolidated competition landscape. Major multinational market players are investing efforts in cost competitiveness and regulatory compliance.
Some of the major competitors in the industry are taking part in strategic collaborations in emerging economies to bolster their market presence, and to widen the product portfolio. Key players in the specialty feed additives market include Koninklijke DSM N.V., DuPont, BASF SE, Evonik Industries, Kemin Industries Inc., Novozymes A/S, Nutreco N.V., Altech, and Chr. Hansen Holdings A/S among others.