Specialty Feed Additives Market to Surpass 14 Billion Mark, Finds Fact.MR
The global specialty feed additives market is estimated to grow at a modest CAGR of over 5% during the forecast period (2019-2027).
Key Takeaways of Specialty Feed Additives Market Study
• The specialty feed additives market is mainly concentrated in Asia Pacific region due to rising demand of meat and other meat based products in this region. The region has shown massive economic dependence on agriculture and livestock and the market is expected to grow 1.4x during the forecast period
• Specialty feed additives market in India, China and Japan is expected to explode due to the countries' improving purchasing power
• Acidifiers segment is anticipated to be the fastest growing segment during the forecast period, poised to grow at a CAGR of 6%. Within the modern poultry farming business, acidifiers are gaining wide acceptance to cure diseases such as ascites caused by various microbial invasion
• Significant investments in R&D by key players is aiding the production of specialty feed additives with higher nutrient content and acquisition of regional players mainly in Asia Pacific region
• The specialty feed additives market is also facing several constraints such as increased regulations and lack of awareness of specialty feed additives for people living in remote areas
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"With commercial productivity directly linked to an animal's overall health, burgeoning applications of specialty feed additives combined with the participation of numerous additive manufacturers is going to boost the global market during the forecast period" says the Fact.MR analyst
Specialty Amino Acids to Act as New Growth Levers
The specialty feed additives market is moderately consolidated with a few top-tier companies staking their claim on market share. Asian manufacturers are looking forward to take extra steps to concentrate on specialty amino acids that are intrinsically high value and can be marketed at higher prices.
PR Source- https://www.factmr.com/