Specialty Feed Additives Market by Function , Livestock & by Region - Global Trends and Forecast to 2020
NEW YORK, June 17, 2015 /PRNewswire/ -- The specialty feed additives market is gaining momentum over the last few years and this trend is projected to continue. 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 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.
The U.S. dominated the specialty feed additives market in 2014. By function, the palatability segment in specialty feed additives dominates the market and accounted for a share of about 20% in 2014. The specialty feed additives market an emerging market with key market players driving the growth with new product developments, expansions, acquisitions, and investments to develop their position in the specialty feed additives market. The market is competitive with the leading players being involved in the research & development of various specialty feed additives products to bring sustainability.
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. 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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