PUBLISHER: SkyQuest | PRODUCT CODE: 1120556
PUBLISHER: SkyQuest | PRODUCT CODE: 1120556
The Global Animal Nutrition market was valued at USD 34.29 Billion in 2021, and it is expected to reach a value of USD 49.03 Billion by 2028, at a CAGR of 5.3% over the forecast period (2022 - 2028).
Animal nutrition other than grains, crops, silage, and residue, chemicals, or formulations is added to feed to increase nutritional value and have a positive impact on animal health. The ever-increasing demand for animal meat and products (such as dairy and eggs) has put livestock breeders under a lot of pressure, compelling them to ensure an increase in livestock output. The challenge for such farmers, on the other hand, is to maximize productivity while minimizing expenses. As a result, using animal nutrition, also known as feed additives, is the best option for enhancing feed digestion and feed conversion ratios.
Rising commercial livestock production and increased demand for meat and other animal-based items are the primary drivers of industry expansion. Growing consumer health consciousness is driving increased demand for dairy and meat products as a source of various nutrients, which is positively boosting demand for animal feed. The industry is growing rapidly, thanks in part to increased consumer awareness of the health benefits of algae-derived animal feed additives. Microalgae are essential for supplementing animal feed with nutrients throughout the early stages of cattle development. It also promotes physical development while ensuring the greatest quality meat, milk, and eggs.
Top-down and bottom-up approaches were used to estimate and validate the size of the Global Animal nutrition market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined by using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.
The Global Animal nutrition market is segmented by type, species, application. Based on type, the market is categorized into Amino Acid, Minerals, Vitamins, Lipids, Eubiotics, Enzymes, Carotenoids, Others. Based on species, the market is categorized into Poultry, Ruminants, Swine, Aquaculture, Others. Based on application, the market is categorized into Farms, Households, Veterinarians, Zoos, Animal shelters. By region, the global Animal nutrition market is categorized into North America, Europe, Asia-Pacific, South America, and Middle East & Africa.
As a result of changing diets, rising incomes, and expanding populations, demand for animal products has soared. Animal products such as milk, eggs, and meat have become more popular in recent years. According to FAO, between 2018 and 2020, North America consumed 97 kilograms of meat per person, compared to the global average of 34 kg. Furthermore, in 2020, milk consumption in Australia and New Zealand was 99 kg and 109 kg, respectively, and 64 kg in the United States. As a result, the need for animal nutrition that stimulates the production of more nutrient-dense milk is expected to rise in the coming years.
Rising raw material prices around the world, as well as severe regulatory regulations in industrialized nations, have a significant impact on the compound feed market's growth. Price increases in raw materials are a serious constraint for animal feed manufacturers all around the world. Natural sources of feed acids, antioxidants, and vitamins include seeds, tree bark, and plant leaves. The increased expense of extraction from these sources, combined with rigorous rules for waste biomaterials and wastewater treatment, is constraining the market's growth.
The popularity of high-protein diets is increasing global demand for animal protein. The increased demand for animal proteins predicts that the importance of amino acids in animal feed will rise in the future years. Furthermore, amino acids in feed are an important aspect of animal husbandry's long-term growth. As a result, an increase in the production of animal proteins would significantly raise the market's total growth.