North America Specialty Feed Additives Market was worth USD 5.07 billion in 2021 and estimated to be growing at a CAGR of 5.9%, to reach USD 6.42 billion by 2026.
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.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.
North America Specialty Feed Additives Market Drivers:
The growth of the North America Specialty Feed Additives Market is mainly driven by factors such as the rising awareness and knowledge among people about agriculture, the increased concern for quality of meat and rise in consumption of animal products. However, factors such as high raw materials cost could prove as major constraints for this market.
North America 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.
North America Specialty Feed Additives Market - By Livestock:
Under this segment, feed additives for the poultry segment are leading the market currently.
North America 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.
North America Specialty Feed Additives Market - By Function:
The Market is Geographically divided into:
As of 2018, North America is an important market region with market, accounting for about 26% of the entire market share. The increased focus on enhancing the meat and other animal products’ quality is the prime growth driver for the market in this region.
Major Key Players:
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the Specialty Feed Additives Market in this region are Alltech Inc. (U.S.) and Kemin Industries Inc (U.S).
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