The specialty feed additives market is projected to experience an upward trend in terms of growth during the forecast period. Specialty feed additives are nutritional ingredients and enhance the taste of feed provided to the livestock. These products are majorly used as food supplements for farm animals. The products are available in liquid as well as solid form. Specialty food additives can be classified into sweeteners and flavors, binders, minerals, antioxidants, vitamins, and acidifiers.
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Prevention of zoonotic diseases to serve as a major growth factor for the specialty feed additives market
Zoonotic diseases have been on the rise in recent times. Nipah virus and the novel coronavirus disease are some instances of zoonotic diseases, that is, animal to human transmission. The COVID-19 pandemic has resulted in unparalleled loss of human lives and the threat keeps growing day by day. With the advent of the pandemic, the hygiene and nutrition factors in animals have rung alarm bells across the globe. Nutrition in animals is of utmost importance to prevent such transmissions. Hence, this can help the specialty feed additives market to garner growth.
The rising demand for poultry may also propel the specialty feed additives market. A considerable rise in the consumption of eggs and chicken is the major factor that can drive the growth of the specialty feed additives market. Furthermore, innovations leading to more efficient products through focused research and development activities are also expected to garner momentum in the specialty feed additives market.
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Governments and academic institutions are investing heavily in the development of specialty feed additives. Technologies such as Artificial Intelligence, Internet of Things (IoT), and blockchain are further expected to accelerate the growth rate of specialty feed additives market. Countries like India having agriculture as their main occupation may record positive growth numbers. This can be attributed to increasing awareness about maintaining the hygiene standards and nutrition of the livestock.