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The animal nutrition market involves the manufacturing and distribution of feed and feed additives for animals including poultry, livestock, aquaculture and companion animals. Feed additives play an important role in improving feed quality by enhancing digestibility and metabolism. They help increase livestock productivity by improving growth rates, feed efficiency and immunity. Some common animal feed additives include vitamins, amino acids, fatty acids, probiotics and prebiotics, enzymes and minerals. Rising awareness among pet owners regarding the nutritional requirements of animals and importance of protein-rich diet for growth is driving the demand for animal nutrition products.
The Global Animal Nutrition Market is estimated to be valued at US$ 48100 Mn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the animal nutrition 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.. These players are focusing on new product launches and geographical expansion to consolidate their market presence. Technological advancements in feed formulations to offer balanced nutrition tailored to the needs of different livestock and pet types has supported the animal nutrition industry expansion. Advancements in organic trace minerals, amino acids and feed enzymes have improved animal health and productivity.
Market Trends
Personalized nutrition is gaining traction in the animal nutrition market with manufacturers developing tailored products for specific animal breeds, age groups and production stages. Another key trend is the rise of natural ingredients in feed formulations to cater to consumer demand for chemical-residue free meat and dairy.
Market Opportunities
Emerging markets like India, Brazil and Southeast Asia offer lucrative opportunities for animal nutrition players owing to rising livestock production and increasing meat consumption in these regions. Growing pet ownership in developing nations also presents opportunities for pet food manufacturers. Investment in R&D of innovative feed additives addressing antibiotic resistance and environmental footprint reduction can open new avenues for market participants.
Impact of COVID-19 on Animal Nutrition Market growth
The COVID-19 pandemic has impacted the growth of the global animal nutrition market. With lockdowns imposed worldwide, the supply chains were disrupted heavily affecting the availability of raw materials used in animal feed production. This led to a shortage in feed supply during the initial months of 2020. The closure of restaurants and dining places also declined the demand for animal-derived food products like meat and dairy. However, with restrictions easing in 2021, production and procurement of raw materials gradually normalized allowing feed producers to ramp up manufacturing. Governments in several nations also provided subsidies and aid to support livestock farmers.
Europe Region in the Animal Nutrition Market
In terms of value, Europe accounts for one of the largest shares in the global animal nutrition market currently estimated at over US$15 billion. Countries like Germany, France, UK, Spain and Italy have well-established livestock and animal farming industries. Poultry, pork and dairy sectors are major contributors to the regional feed demand. Europe also has a considerable aquaculture industry. Strict biosafety regulations ensure feed quality and safety.
Asia Pacific- Fastest growing region for Animal Nutrition Market
The Asia Pacific region is emerging as the fastest growing market for animal nutrition globally. Countries like China, India, Indonesia, Vietnam and Thailand have seen tremendous growth in livestock and aquaculture industries over the past decade. This expanding production base is fueling the demand for high-quality animal feed and nutrients. Rapid urbanization and rising incomes are also supporting increased meat consumption in the region.
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