Global Specialty Feed Additives Market - Analysis of Growth, Trends and Forecast (2018 - 2023)
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 high-income level consumers in Asia-pacific 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 R&D 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 low-cost 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.
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 Austria-based Anco Animal Nutrition Competence GmbH, Anco AC is an anti-caking 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.
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