June 10, 2020
According to the research report titled ‘North America Specialty Animal Feed Additives Market Size By Product, By Livestock, Industry Analysis Report, Country Outlook, Application Development, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026’ available with Market Study Report LLC, North America specialty animal feed additives market is expected to witness a significant growth through 2026.
Specialty animal feed additives market is gaining traction in North America as these additives add extra nutrients like vitamins, minerals, amino acids and fatty acids to livestock feed. They play a very important role in animal nutrition. Focus among livestock producers to adopt natural and sustainable ways to improve performance, enhance gut health, and optimize feed conversive in animals while ensuring minimized use of antibiotic growth promotors is boosting the growth of North America specialty animal feed additives market.
With regards to product terrain, the market is segmented into DCAD products, tribasic copper chloride, encapsulated methionine, sulfate-based minerals, chromium propionate and hydroxy vitamin D. Among these, chromium propionate segment is expected to grow with CAGR of 3.7% through 2026, owing to shifting preference for inorganic trace minerals in animal feed. Right among of chromium in animal feed improves animal growth performance resulting in enhanced meat quality.
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The report cites that there has been an increase in the demand for less toxic copper additive in animal feed. Hence, tribasic copper chloride segment is expected to witness a significant growth over the ensuing years.
Meanwhile, DCAD products segment had a market share of 1.72% in the year 2019 and is slated to record substantial growth over the forecast duration.
Based on the livestock, North America specialty animal feed additives market is classified into cattle, poultry, pets, aquaculture, and pork/swine. Industry share from pork/swine segment is expected to expand with a CAGR of 3.7% during 2020-2026. Rising concerns about the quality of meat and meat products due to the outbreak of several viruses and diseases in livestock over the last decade is fostering the demand for specialty animal feed additives for pork/swine livestock in North America.
Parallelly, pet segment is reckoned to witness a healthy growth over the next few years, on account of surge in pet adoption, especially across the urban regions. Inclination of pet owners towards nutrition-rich diet for their pets is augmenting the market outlook.
Kemin Industries, Inc., Alltech, Royal DSM, Nutreco, Novus International, Form-A-Feed Inc., Evonik Industries, ORFFA, OLD BRIDGE CHEMICALS, Vilofoss International, Phibro Animal Health Corporation, Adisseo, Balchem Corporation, and Zinpro Performance Minerals are the key market players in North America specialty animal feed additives industry.