Specialty Feed Additives Market to Reach US$ 20.5 Billion at a CAGR of 5.2% by 2033
Worldwide demand for specialty feed additives market is projected to increase at 5.2% CAGR From 2023 to 2033. Currently, the global specialty feed additives market enjoys a valuation of US$ 12.3 billion and is expected to reach US$ 20.5 billion by the end of 2033.
On the other hand, through 2033, it is projected that shifting regulatory criteria for the usage of various feed ingredients and the high manufacturing costs of specialised feed additives will restrain market growth overall. For instance, the use of antibiotic growth promoters in animal feed has been outlawed in several nations due to the development of zoonotic infections caused by their excessive use, which resulted in animal drug resistance. The food additive industry underwent significant modifications and reforms as a result of this restriction, which also temporarily slowed market growth.
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Key Takeaways:
- China is poised to hold a share of 35% in the global market for specialty feed additive from 2023 to 2033.
- The United States market is poised to expand at a steady CAGR of 5% between 2023 and 2033.
- Europe accounts for a significant revenue in the global market for specialty feed additives.
- Based on functionality, palatability enhancement sector is slated to increase at a CAGR of 4.6% between 2023 and 2033.
- By feedstock, acidifiers are estimated to account for a sizeable share in the global market for specialty feed additives.
Competitive landscape:
Prime specialty feed additive manufacturers are taking up collaborative efforts to develop new products and expand their business scope across the world. These established market players are also increasing their market presence through new mergers, acquisitions, and partnerships.
- In June 2022, Cargill, a leading food conglomerate announced that it had signed an agreement to acquire a renowned name in the plant-based phytogenic additives business called Delacon. Through this acquisition, Cargill has strengthened its foothold in the additives and animal feed business.
Specialty feed additive suppliers are investing in R&D to fast-track the launch of novel products that will allow them to maximize their revenue generation capacity globally.
- In November 2022, ADM, a leading name in animal and human nutrition announced the launch of two new products in its in-feed sweetening solution range called SUCRAM for livestock. These new sweeteners are developed by ADM’s global feed additive business.
- In April 2022, Amlan International, the animal health division of Oil-Dri Corporation of America announced the launch of new feed additives to its existing product portfolio. The addition includes a natural alternative to anticoccidial drugs and for antibiotic-free poultry production, the company launched a natural pathogen.
Companies Profiled by Fact.MR
- Chr. Hansen Holdings A/S
- Koninklijke DSM N.V.
- Brookside Agra
- Evonik Industries
- Nutreco N.V
- Novus International
- DuPont de Nemours Inc.
- BASF SE
- Akzo Nobel Surface Chemistry AB
- Kemin Industries Inc.
- Neovia Group
- Novozymes A/S
Growth Drivers:
- Growing need for organically produced feed and feed additives, as well as meat product uniformity, should stimulate demand.
- Increasing awareness of the advantages of using specialty feed additives among consumers is poised to promote acceleration.
- Rising demand for livestock products such as dairy and eggs is likely to generate development opportunities.
Restraints:
- The global market for specialty feed additives may experience slow development as a result of various countries’ bans on antibiotics.
- The health of humans may be negatively impacted by specialty feed additives, and allergic responses in particular are likely to impede growth.
Key Segments of Specialty Feed Additives Industry Research:
- By Feedstock :
- Binders
- Acidifiers
- Minerals
- Antioxidants
- Flavors & Sweeteners
- Vitamins
- Other Specialty Feed Additives
- By Form :
- Dry
- Liquid
- By Functionality :
- Palatability Enhancement
- Mycotoxin Management
- Preservation of Functional Ingredients
- Other Functionalities
- By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
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Questionnaire answered in the Market outlook Report of Specialty Feed Additives include:
- What is the key strategy deployed by large players to maximize Specialty Feed Additives Market growth?
- What are the main challenges faced by players in the Specialty Feed Additives market Demand?
- With the advent of technological advancement, how will the Specialty Feed Additives market landscape change over the forecast period?
- What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Specialty Feed Additives market size?
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