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![The Global Animal Nutrition Market is driven by increasing livestock production](https://s3.us-west-2.amazonaws.com/timessquarereporter.com/upload/media/posts/2024-04/11/the-global-animal-nutrition-market-is-driven-by-increasing-livestock-production_1712832014-b.jpg)
The animal nutrition market comprises feed additives such as amino acids, vitamins, minerals, enzymes, and others that are used to enhance the quality of animal feed. Animal nutrition products improve digestion, support immune function, reduce stress, and maximize growth of livestock including cattle, poultry, swine, and aquaculture species. A balanced animal feed containing essential nutrients promotes better utilization of feed and ensures higher weight gain and meat production.
The global animal nutrition market is estimated to be valued at US$ 48,100 million 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 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.
Key players operating in the animal nutrition are focusing on expanding their production capacities and product portfolio through mergers and acquisitions to cater to the growing demand. For instance, in 2021, Koninklijke DSM N.V. acquired Erber Group's biomin and Romer Labs, strengthening its position in the animal health and nutrition market.
The demand for animal nutrition is increasing globally due to the rising consumption of meat and poultry. Countries such as China, India, Brazil, and other developing nations are witnessing robust growth in meat consumption, which is fueling the animal feed industry. Additionally, shifting consumer preference towards animal-based protein is positively impacting the animal nutrition market.
Technological advancements in feed formulations such as tailor-made nutrition systems based on an animal's life stage, customized mineral and vitamin premixes, and development of novel feed enzymes are supporting efficient nutrient utilization. Companies are investing in R&D to develop advanced feed products for maximum yield with minimum environmental footprint.
Market Trends
Growing preference for natural growth promoters: With rising concerns over antibiotic residue in meat and sustainability, producers are increasingly using natural growth promoters such as prebiotics, probiotics, essential oils, and phytochemicals in animal feed.
Rise of organic and non-GMO animal feed: With health-conscious consumers demanding organic and clean-label meat products, the demand for organic and non-GMO animal feed is growing globally. Major players are offering organic and residue-free feed to cater to this trend.
Market Opportunities
Aquaculture industry growth: With the rising global seafood trade and declining wild catch, the opportunity for animal nutrition products in the aquaculture industry is immense. Companies are innovating algal and fish-based feed formulations.
Alternative protein demand: Growth in the market for plant-based meat and dairy products has created opportunities to develop alternative protein-based animal feed using insects, algae, and single-cell proteins. This can address sustainability issues.
Impact of COVID-19 on Animal Nutrition Market
The COVID-19 pandemic has severely impacted the growth of animal nutrition market globally. With nationwide lockdowns imposed across countries, supply chains were disrupted leading to shortage of raw materials required for manufacturing animal feed. Farmers faced difficulties in getting feed for livestock and poultry. Production and transportation of animal feed was halted during initial months of pandemic. This led to decline in sales of animal feed in 2020. However, with gradual opening up of economies from mid-2020, the market is regaining lost growth momentum.
The demand for animal-based food products like meat and dairy fell significantly during lockdowns as restaurants and food outlets remained shut. This impacted sales of animal feed negatively. However, as economies are reopening fully, consumption and demand for meat and dairy is recovering. This is driving demand for high-quality animal feed to boost productivity and production from livestock. Manufacturers are focusing on developing innovative feed formulations fortified with nutrients, proteins and immunity boosters to cope with future crises. The pandemic has emphasized on the need for resilient and sustainable animal feed supply chains.
Geography of Animal Nutrition Market in North America
North America accounts for the lion's share of global animal nutrition market in terms of value. The United States contributes majority of the sales in the region. Robust livestock farming industry, advanced animal husbandry practices and growing demand for meat and dairy products have been driving growth of animal feed market in the USA. Major feed manufacturers are based in Midwestern states where corn and soybean production is concentrated to obtain raw materials economically. States like Iowa, Illinois and Nebraska are the largest producers of animal feed in the country. Canada is another major market in North America due to sizeable livestock production. The region has ideal weather conditions and large farmland for cattle and poultry rearing.
Fastest Growing Region - Asia Pacific
Asia Pacific region is poised to emerge as the fastest growing market for animal nutrition globally between 2023-2030. Countries like China and India dominate the regional market supported by world's largest livestock population. Demand is primarily driven by growing middle class population which is consuming more animal-based proteins. Pork and poultry segments account for major share of animal feed consumption in Asia. Manufacturers are expanding production facilities and R&D centers to cater to burgeoning demand. Improvement in animal farming infrastructure and practices will propel market growth in Asia Pacific region over the forecast period.
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