Specialty Feed Additives Market Worth $11.9 Billion by 2020
Browse63 market data Tables and 60 Figures spread through 161 Pages and in-depth TOC on "Specialty Feed Additives Market"
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The Specialty Feed Additives Market, based on livestock, is segmented into poultry, swine, cattle, aquatic animals, and others. It also identifies the driving and restraining factors of the market with detailed analysis of opportunities, burning issues, and challenges. The market has been segmented on the basis of the key regions-North America, EMEA which includes Central Eastern Europe, North West Europe, South East Europe, and Middle East Africa, Asia-Pacific, Latin America and Rest of the World (RoW)-along with a value projection. The size of the markets in the key countries has also been covered and projected for each region. The market report analyzes the Specialty Feed Additives Market, which is segmented based on the function performed, livestock, and region. The Specialty Feed Additives Market, based on function, includes gut health/digestive performance, mycotoxin binders, palatability, preservation & functional Ingredients, and others.
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The Specialty Feed Additives Market is projected to reach $11.9 Billion by 2020, at a CAGR of 4.5% from 2015 to 2020. The U.S. dominated the Specialty Feed Additives Market in 2014. The market is driven by factors such as swelling demand for protein-rich meat products worldwide, industrialization in meat production, and rising awareness towards meat product quality. The high growth potential in developing markets and advanced technology provides a plethora of opportunities for emerging market players. Lack of awareness among farmers regarding benefits of specialty feed additives, coupled with large, unorganized market for feed additives are some of the major factors restraining the growth of the market. Lack of regulations is also proving to be a major challenge for the industry players in the concerned market.
The global Specialty Feed Additives Market is segmented on the basis of function performed by these additives. Key functions considered for the research are gut health/digestive performance, mycotoxin binders, palatability, preservation & functional Ingredients and others. Similarly, usage of various feed additive products on different types of livestock is classified. By function, palatability segment in specialty feed additives dominates the market and accounted for a share of about 20% in 2014.
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 Specialty Feed Additives Market. The market is competitive with leading players being involved in the research & development of various innovative feed additives to attain majority market share. The key players in this market are BASF SE (Germany), Evonik Industries AG (Germany), Nutreco N.V. (The Netherlands), Novozymes A/S (Denmark), and Invivo NSA (France).
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