Middle East and Africa Specialty Feed Additives Market was worth USD 1.09 billion in 2021 and estimated to be growing at a CAGR of 4.195%, to reach USD 1.33 billion by 2026.
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 a vital market to the society as it enhances the quality of meat and other animal products thus adding nutrition to the human life as well. The recent period has seen a significant rise in the importance paid to the Specialty feed additives for the livestock.
Drivers and Restraints of Middle East and Africa Specialty Feed Additives Market:
The growth of the Middle East and Africa Specialty feed Additives Market is mainly driven by factors such as innovation and advancement in agricultural field, awareness about meat quality and concern for the same in animal products. However, factors such as high cost for raw materials and operations as well as government restrictions pose a major restraint for this market
Middle East and Africa Specialty Feed Additives Market - By Type of feed:
The Acidifiers segment leads the market on the basis of type of feed and is also projected to witness a higher growth rate during the forecast period.
Middle East and Africa Specialty Feed Additives Market - By Livestock:
Under this segment, feed additives for the poultry segment are leading the market currently.
Middle East and Africa Specialty Feed Additives Market - By Form of feed:
The dry feed is further classified as Pellets and Powders. The Liquid Feed additives market is expected to have a higher CAGR among the feed additives based on form of feed.
Middle East and Africa Specialty Feed Additives Market - By Function:
The market has been geographically segmented into Middle East and Africa. The private sector plays a major role in the agricultural field in Africa, accounting to more than half of the investment being done by them. The Specialty feed additives market is growing gradually as this region faces many problems due to the unstable economy. However, Africa is expected to grow in the future as the livestock sector undergoes industrialization.
This market is disjointed with multiple players operating in the business. The major companies in this region are Wisium, Animal Feed Manufacturers Association and Nutribase.
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