Press release
COVID-19 Impact Affects Specialty Feed Additives Market Globally in 2020; key players are Alltech Inc, BASF SE, Cargill Incorporated, Archer Daniels Midland Company and more
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Some of the key players covered in the Specialty Feed Additives Market report include
• Alltech Inc.
• BASF SE
• Cargill Incorporated
• Archer Daniels Midland Company
• Evonik Industries
• Kemin Industries Inc.
• Biomin Gmbh
• Nutreco N.V.
• Hansen Holdings A/S
• Lucta
• A.
• Yara International ASA, and Brookside Agra.
Specialty feed additives are ingredients that are used as nutritional enhancing additives in several foods in concentrated forms. Besides nutritional feed, the substance is used for increasing the shelf life of these foods. These products are used in enhancing the overall nutritional value in animal foods and subsequently, improve the overall animal produce. The demand for specialty feed additives has risen dramatically in recent years, driven by increasing livestock across the world.
Increasing regulatory approvals by leading food authorities will have a positive impact on the specialty feed additives market in the coming years. The primary aim of a specialty feed additive is to fulfil the deficiency of specific or all of the nutrients in animal feed. The benefits offered by these additives, coupled with their availability at low prices will lead to a wider product use in several countries across the world.
The report provides an in-depth analysis of the global specialty feed additives market. It highlights the latest product launches and labels major innovations in the market. In addition to this, it states the impact of these products on the growth of the market. The competitive landscape has been discussed in detail and predictions are made with respect to leading companies and products in the coming years. Forecast values have been provided for the market for the period of 2019-2026. The factual figures have been obtained through trusted sources. Moreover, these predictions are made on the basis of extensive research analysis methods, coupled with the opinions of experienced market research professionals.
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Evonik’s Acquisition of Porphyrio Will Have a Huge Impact on Market Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. Due to the huge potential held by specialty feed additives across numerous industries, several large companies are focused on raising their overall investments in the development of newer products. In November 2018, Evonik announced the acquisition of Belgium-based Porphyrio. The company is a leading big data software provider. Through this acquisition, the company plans to enhance its precision livestock farming. The report identifies a few of the major company mergers of recent times and gauges their impact on the growth of the market.
Asia Pacific to Witness High CAGR; Dependency on Livestock to Aid Growth
The market is segmented on the basis of regional demographics into North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among these regions, the market in Asia Pacific is projected to witness a high CAGR in the coming years driven by the huge reliance and use of livestock and other farm animals. The growing demand for animal protein and other nutrition will have a positive impact on market growth. Moreover, availability of these products at low costs will aid the growth of the regional market. The stringent regulatory compliances that are imposed on antimicrobial growth promoters will contribute to the growth of the market in this region.
Industry Developments:
February 2019: Archer Daniels Midland Company announced that it has completed the acquisition of France-based Neovia. Through this acquisition, the company will look to strenghthen its portfolio of premixes, ingredients, pet care solutions, aquaculture, additives, and amino acids.
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