June 1, 2015

 

'Specialty feed additives market remains lucrative, worth $11.9 billion in 2020'

 

 

The specialty feed additives market continues to be lucrative as it is projected to reach US$11.9 billion by 2020 with a CAGR [compound annual growth rate] of 4.5% from 2015 to 2020, a report recently released by MarketsandMarkets said.

 

It said the US dominated the specialty feed additives market last year, adding that the market was driven by such factors as swelling demand for protein-rich meat products worldwide, industrialisation in meat production, and rising awareness towards meat-product quality.

 

Specialty feed additives help improve animal health and increase productivity by providing enriched nutrients along with the feedstuff which accelerates growth and weight gain, develops immunity against diseases, and enhances overall performance of the livestock.

 

According to the report, the high growth potential of specialty feed additives in developing markets and advanced technology provides a host of opportunities for emerging market players.

 

Lack of awareness among farmers regarding the benefits of specialty feed additives, coupled with large, unorganised market for feed additives, was identified as a major factor restraining the growth of the market.

 

Lack of regulations was also identified as a major challenge for the industry players in the concerned market.

 

Palatability dominates

 

The market report has a wealth of information in terms of the specialty feed additive's function, which includes gut health/digestive performance, mycotoxin binders, palatability, preservation and functional ingredients; livestock, categorized into poultry, swine, cattle, aquatic animals and others; and region, which is segmented into North America, EMEA ( which includes Central Eastern Europe, North West Europe, Southeast Europe and Middle East Africa), Asia-Pacific, Latin America, and Rest of the World.

 

By function, the palatability segment dominates the market and accounted for a share of about 20% in 2014, the report said.

 

The 161-page report also covers the size of the markets in key countries and projected size for each region.

 

According to the report, the specialty feed additives market is highly fragmented with key market players driving the growth with new product developments, expansions and investments to develop their position in the market.

 

The market is described as competitive, with the key market players identified as BASF SE (of Germany), Evonik Industries AG (Germany), Nutreco N.V. (the Netherlands), Novozymes A/S (Denmark, and Invivo NSA (France).

For more information on the report and how to purchase it, log on to http://www.marketsandmarkets.com/Market-Reports/specialty-feed-additives-market-72590192.html.