Specialty Feed Additives Market Analysis and Forecast 2021-2031 factmr.com
Newly published data by market research provider Fact.MR reveals that demand for specialty feed additives will surge at a CAGR of 5.5% from 2021-2031, reaching US$ 18.4 Bn in value. Emergence of food borne diseases, which are largely zoonotic, are prompting increased incorporation of feed additives in recent years.
Historical performance reveals that the market expanded at a steady pace, at a CAGR of 5% from 2016-2020. Demand further increased during the COVID-19 pandemic, given the zoonotic nature of the disease. Although global meat trade has declined by 4% since its outbreak, there is a significant proportion of people consuming meat products, hence sustainingΒ demand for specialty feed additives.
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