(I-BusinessNews.Com, November 18, 2019 ) The report “Specialty Feed Additives Market by Type (Flavors & Sweeteners, Minerals, Binders, Vitamins, Acidifiers, Antioxidants), Livestock (Swine, Ruminants, Poultry, Aquatic Animals), Function, Form, and Region – Global Forecast to 2022″, The specialty feed additives market is projected to reach USD 11.12 Billion by 2022, growing at a CAGR of around 5.43% from 2016. The global specialty feed additives market has grown exponentially in the last few years. Increase in consumption of animal products, rise in incidences of disease outbreaks in livestock, adverse impact on the environment from the emission of greenhouse gasses by the livestock and innovations in animal husbandry such as encapsulation of acidifiers are the major driving factors for this market.
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The acidifiers segment is projected to be the fastest-growing from 2016 to 2022.
This segment is projected to grow at the highest CAGR from 2016 to 2022. Acidifiers are gaining popularity in modern poultry farming to cure diseases such as ascites, which are triggered by various microbial factors (E. coli and Salmonella).
The swine segment is projected to grow at a significant rate during the forecast period.
With increase in pork trade and concerns over food security, the demand for specialty feed additives is expected to increase to ensure better meat quality and safety. Also, pork meat is the most consumed meat in the world which drives the specialty feed additives market in this segment.
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The Asia-Pacific region is projected to grow at a significant rate from 2016 to 2022.
The Asia-Pacific market is projected to grow at the highest CAGR during the forecast period, owing to the increase in demand for animal products. Growth in population, rise in disposable incomes, progressive urbanization, and increase in demand for quality meat products have driven the market for specialty feed additives. Growth is majorly witnessed in China, India, and Japan, owing to increase in the purchasing power of the population.
This report includes a study of marketing and development strategies, along with the product portfolio of leading companies, such as BASF SE (Germany), Evonik Industries (Germany), Novozymes A/S (Denmark), Nutreco N.V. (Netherlands), Alltech Inc. (U.S.), Chr. Hansen Holdings A/S (Denmark), Invivo NSA (France), Biomin Holding GmbH (Austria), Lucta S.A. (Spain), and Kemin Industries Inc. (U.S.).
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