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BASF SE and Evonik Industries (Germany) are Leading Players in Specialty Feed Additives Market
The specialty feed additives market has many players (small, medium, and large); however, the market is dominated by a few, such as BASF SE (Germany), Evonik Industries (Germany), Novozymes A/S (Denmark), Nutreco N.V. (Netherlands), and Alltech Inc. (U.S.), collectively accounting for a significant share in the specialty feed additives market. Aquisitions, agreements, and investments were the preferred growth strategies of the key players from 2011 to 2016 for better penetration and coverage, increase in the product portfolio, and to reach new potential markets. Other players such as Chr. Hansen Holdings A/S (Denmark), Invivo NSA (France), BIOMIN Holding GmbH (Austria), Lucta S.A. (Spain), and Kemin Industries, Inc. (U.S.), also have a strong presence in this market.
BASF SE operates through various business segments including chemicals, plastics, functional solutions, performance products, agricultural solutions, nutrition, and oil & gas. It provides innovative products for livestock and animal nutrition, globally. Its specialty feed additives business is managed through its nutrition & health subsegment. It operates in more than 80 countries with 380 production facilities, through its subsidiaries. The company mainly operates in Europe and has an active presence in North America, Asia-Pacific, South America, Africa, and the Middle East. It has customers in 200 countries and supplies products to a wide range of industries.
The increase in demand for specialty feed additive products has encouraged the company to focus on R&D to innovate new products for the global market. The company’s expanded product portfolio reduces its market risks to a great extent. It has dedicated R&D teams for continuous introduction of new products to obtain a major market share and increase the company’s revenues.
Evonik Industries (Germany)
Evonik Industries is one of the world’s leading specialty chemical companies. The company is active in sectors such as animal chemicals, feed nutrition, coal power, renewable energies, trading, and real estate. The major segments which operate independently include nutrition & care, resource efficiency, and performance materials. The company offers specialty feed additives through its nutrition & care segment. It has more than 50 years of experience in the animal nutrition business and has its presence in more than 100 countries. Feed additives are produced in six facilities across five countries. Evonik also offers healthy & environment-friendly animal nutrition products and solutions.
The company focuses on health, nutrition, resource efficiency, and globalization of its products to drive its business. Its growth strategy has been to increase profits and sustain value creation. The company is a leading player in the feed amino acid business and has diverse product portfolios. It has also been the most active company in the sector, accounting for the most number of developments. It has made a considerable number of expansions, by not only increasing its production capacity, but also increasing research in the field and expanding geographically, to enhance its business.
Specialty Feed Additives Market by Type (Flavors & Sweeteners, Minerals, Binders, Vitamins, Acidifiers, Antioxidants), Livestock (Swine, Ruminants, Poultry, Aquatic Animals), Function, Form, and Region - Global Forecast to 2022
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