Market Overview:

Specialty Feed Additives Market was worth USD 9.05 billion in 2019 and estimated to be growing at a CAGR of 5.5%, to reach USD 11.83 billion by 2024. Specialty Feed Additives facilitate the provision of nutrition to farm animals, which cannot be gained through regular meals. They enhance the digestive system of the animals and are provided in the form of palatable food materials. Specialty feed additives is an essential market for society as it increases the quality of meat and other animal products, thus adding nutrition to human life as well. The recent period has seen a significant rise in the importance paid to the specialty feed additives for the livestock.

Market Drivers and Restraints:

The growth of the Global Specialty Feed Additives Market is mainly driven by factors such as rise in the consumption of meat and other animal products like dairy, leather, etc. are favoring the growth of this market. The increasing spread of diseases amongst the livestock and innovation in the livestock rearing culture is another major factor driving the growth of the market. However, lack of awareness, high investment costs, and government regulations are preventing the growth of the market.

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Report segmented as

By Feed Type:

Vitamins
Antioxidants
Flavors and Sweeteners
Minerals
Binders
Acidifiers
By Livestock:

Aquatic Animals
Poultry
Swine
Ruminants
By Type of Feed:

Liquid Feed
Dry Feed
By Function:

Palatability Enhancement
Mycotoxin Management
Ingredient Preservation Digestive Performance Enhancement
Geographical Analysis:

The market has also been geographically segmented into North America, Europe, Asia-Pacific, Latin America, and Middle-East & Africa. In 2016, Europe led the global Specialty Feed Additives Market. However, the Asia Pacific region is projected to grow the highest during the forecast period due to various factors such as increasing the urban population, increase in spending, and the rise in population.

Important Market Players:

This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the global Specialty Feed Additives Market are Novus International, BASF SE, Evonik Industries, Lucta S.A, Chr. Hansen Holdings A/S, Biomin Holding GmbH, Invivo NSA, DSM, Akzo Nobel Surface Chemistry AB, Kemin Industries Inc., Biomin Holding GmbH and Nutreco N.V.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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