The Animal Nutrition Market is an essential market as it provides nutrients to animals for proper growth, maintenance and health. Animal nutrition products include fodder, feed additives, amino acids and more. These products provide balanced nutrition to animals and improve their productivity as well as overall health. Rapidly growing demand for animal protein has boosted the Animal Nutrition Market globally.
Animal nutrition products cater to the nutrient requirements of various livestock and companion animals. Feed additives constitute the largest segment as they help enhance digestion, absorption of nutrients and increase immunity. Key products in this market include vitamins, probiotics, enzymes, antioxidants and acidifiers. Rising consumption of meat and dairy has increased demand for high-quality animal feed across major economies.
The Animal Nutrition market is estimated to be valued at US$ 48100 Mn or Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the major trends spurring growth in the Animal Nutrition Market is the rising demand for natural and organic feed. Consumers are increasingly favoring animal products from livestock fed with organic and herbal feed additives. This is encouraging feed manufacturers to develop natural and sustainable animal nutrition solutions. Furthermore, advancements in formulations with probiotics and prebiotics have gained traction. These formulations offer gut health benefits and improve nutrient utilization in animals. Their growing usage will support the long-term prospects of this market.
Porter’s Analysis
Threat of new entrants: Low barriers to entry due to low capital requirements but established players enjoy economies of scale and brand recognition.
Bargaining power of buyers: Medium bargaining power as buyers have many choices available but look for customized and scientific solutions.
Bargaining power of suppliers: High bargaining power as raw material suppliers like corn, soybean producers are consolidated however feed additives suppliers have lower power.
Threat of new substitutes: Low threat as dietary supplements have limited substitutes and animal nutrition industry focuses on scientific solutions.
Competitive rivalry: Intense competition among key players to develop new products and services.
SWOT Analysis
Strengths: Rising meat consumption worldwide, technological advancements in feed formulations.
Weaknesses: Regulatory hurdles regarding antibiotics usage, price volatility of raw materials.
Opportunities: Shift towards natural growth promoters, untapped markets in emerging economies.
Threats: Spread of animal diseases, stringent environmental regulations.
Key Takeaways
The global animal nutrition market is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing meat consumption worldwide. The Asia Pacific region is projected to dominate the market owing to rising meat demand from China and India.
Regional analysis: The Asia Pacific region is projected to be the fastest growing as well as dominating regional market over the forecast period due to rising meat demand from China and India. China dominates the APAC animal nutrition market due to large livestock population in the country.
Key players: Key players operating in the animal nutrition market are Archer-Daniels-Midland Company, Adisseo France SAS, Alltech, BASF SE, Cargill Inc., Dow Chemical Company, DuPont, Evonik Industries AG, Tata Chemicals, Novozymes A/S, Royal DSM N.V., Kemin Industries, Inc., and Nutreco N.V. Companies are focused on developing customized premixes, innovative delivery systems and specialized products.
This market report also allows you to identify the future opportunity and growth rate of the leading segment based on regions and countries.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the animal nutrition chemicals market include Tata chemicals Ltd, S.p.A., Cargill, Inc., Evonik Industries AG, BASF SE, CHURCH & DWIGHT CO. INC, Novozymes, Koninklijke DSM NV, BalChem, Kemin Industries AND SHV N.V.
This section includes a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global Animal Nutrition Chemicals Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/animal-nutrition-chemicals-market/download-sampleMarket DynamicsGrowing domesticated animals and livestock population are expected to fuel the market growth.
Furthermore, the increase in pet health care centers and veterinaries are supporting to drive market growth.
The faster growth of animal meat coupled with the increasing demand for meat globally is projected to offer a high return on investment.
This factor results in growth in a number of animal farmers and modern animal husbandries, which is further projected to provide growth opportunities.The report covers Porter’s Five Forces Model, Market Attractiveness Analysis and Value Chain analysis.
According to the new market research report by IndustryARC titled “Animal Nutrition Market: By Nutrient (Amino Acids, Minerals, Vitamins, Eubiotics, Enzymes, Others); By Livestock (Ruminant, Poultry, Aquaculture, Swine, Equine, Pets, Others); By Administration Method (Oral, Topical and Injection); By Geography - (2018-2023)”, the market is largely driven by the increasing adoption of animal nutrition products by the farmers and producers for the high quality production of meat and milk globally.APAC continues to lead the Animal Nutrition Market share and growth during 2018-2023:Asia-Pacific region is the prominent market for animal nutrition, with the highest share in the overall market.
Additionally, with the increasing population and food needs, the production of meat and dairy products has been at a consistent rise in the recent years.
Animal Nutrition products are used at various stages in the meat production value chain.
It also prevents the livestock from various disease outbreaks and helps in increasing the overall body mass of the animals.
Therefore, animal nutrition plays a significant role in retaining good health of animals and providing quality end-products to humans.Excerpts on Animal Nutrition Market Growth Factors Mentioned in the Full Report:Consumer awareness coupled with rising demand for quality and nutrition food from consumers, is set to drive the growth of the market throughout the forecast period.Rapidly rising mass production of meat and meat products is an indicator of growing trend for landless meat production facilities.
This trend is projected to enhance the growth of animal nutrition market.Key Players of the Animal Nutritions Market:The major key players of the Animal Nutritions Market includes Adisseo France SAS, Royal DSM and Archer Daniels Midland Company.Nutreco N.V. acquired two Brazilian companies namely, Fatec Indústria de Nutrição e Saúde Animal Ltda (Brazil) and BRNova Sistemas Nutriconais S.A. (Brazil) to strengthen its distribution network and product portfolio in animal nutrition.
