USD 22.8 billion
Animal Nutrition Market Size, Share, Growth Analysis, By Product Type (Amino Acids, Carotenoids), By Species (Poultry, Ruminant), By Application, By Region - Industry Forecast 2024-2031
Report ID:
SQMG30H2017 |
Region:
Global |
Published Date: December, 2024
Pages:
242
|Tables:
99
|Figures:
76
Animal Nutrition Market Insights
Global Animal Nutrition Market size was valued at USD 22.8 billion in 2022 and is poised to grow from USD 24.26 billion in 2023 to USD 39.92 billion by 2031, growing at a CAGR of 6.42% during the forecast period (2024-2031).
Animal nutrition other than ingredients like grains, crops, silage, and residue, compounds, or formulations is added to feed in order to raise the nutritional value of feed and possess a positive impact on animal health. The ever-growing demand for animal meat and products (such as dairy and eggs) has put livestock breeders under a lot of strain, forcing them to ensure an increase in the productivity of their livestock. The issue for such farmers, on the other hand, is how to maximize productivity while keeping expenses to a minimum. Therefore, the ideal choice for improving feed digestion and feed conversion ratios is to use animal nutrition also called feed additives.
The key drivers of animal nutrition market growth are an increase in commercial livestock production and increased demand for meat and other animal-based goods. Growing demand for dairy and meat products as a source of different nutrients is being driven by expanding consumer health consciousness, which is favorably affecting the demand for animal feed. The animal nutrition market is expanding significantly in part due to rising consumer awareness of the health advantages of animal feed additives derived from algae. In order to supplement animal feed with nutrients during the infancy of livestock development, microalgae are crucial. It also encourages physical development while ensuring the production of meat, milk, and eggs of the highest caliber.
US Animal Nutrition Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Poultry
Fastest Growth
Poultry
Growth Rate
6.42% CAGR
Global Animal Nutrition Market 2021-2028 ($ Mn)
Country Share for Asia-Pacific Region- 2021 (%)
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Animal Nutrition Market Segmental Analysis
Global Animal Nutrition Market is segmented by Product Type, Species, Application, and region. Based on Product Type, the market is segmented into Amino Acids, Carotenoids, Enzymes, Eubiotics, Minerals, Lipids, Vitamins, and Other Pet Food. Based on Species, the market is segmented into Poultry, Ruminant, Aquaculture, Swine, and Others. Based on Application, the market is segmented into Veterinarians, Animal Feed Manufacturers, Households, Farms, and Other. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Animal Nutrition Market Analysis by Species
Based on species, the animal nutrition market is segregated into poultry, ruminants, swine, aquaculture, and others. The poultry segment is projected to hold the most substantial share in the market. The poultry segment mainly comprises Broilers, Layers, Turkey, and Other Poultry Species (Game Birds and Duck). Among these, the Broilers segment of the market is projected to hold the most substantial share of the market. The segmental market growth is attributed to increased consumption of poultry-based products, owing to their low cost and a shift in customer taste toward white meat rather than red meat. Furthermore, increased awareness regarding protein intake in daily diet is a critical component in fueling the industry growth
Global Animal Nutrition Market by Species, 2021 (%)
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Animal Nutrition Market Regional Insights
The Asia Pacific accounted for the largest market share and is expected to remain the leading consumer of feed in the coming years. High animal production and high meat consumption due to high incomes are responsible for the dominance of the region. China, India, and Indonesia are the major feed consumers in the region. The high income associated with a fast-growing economy and strong demand for meat, fish, and dairy products has led to rapid growth in the consumption of these products. The high growth rate in consumption is met by growing local meat and dairy production, resulting in a very rapid increase in feed consumption.
North America and Europe are expected to follow the Asia Pacific animal nutrition market. In North America, the U.S. is the largest feed market with high demand for poultry and cattle. The high meat production and demand coupled with large livestock production drives the animal nutrition market in the country.
Global Animal Nutrition Market By Geography, 2021 - 2028
- Largest
- Fastest
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Animal Nutrition Market Dynamics
Animal Nutrition Market Driver
- There is a significant surge in livestock production due to high meat consumption as it is a high source of protein and readily available at low costs and hence, driving the animal feed additives market. As per the FAO, by 2030, there will be a 14% increase in the global consumption of animal proteins, mostly due to income and population expansion. Consumption of meat has shifted to include more fowl. This reflects the cheaper cost of chicken as compared to other meats in developing nations with lower levels of income, while it shows a growing preference for white meats in high-income nations since they are easier to cook and seen as healthier food options. In 2030, it is anticipated that 41% of all the protein from meat sources will come from a chicken.
- Demand for animal products has increased as a result of changing diets, rising incomes, and expanding populations. Animal goods like milk, eggs, and meat have become more prevalent in recent years. According to FAO, North America consumed 97 kg of meat per person between 2018 and 2020, compared to the global average of 34 kg. In addition, milk consumption in Australia and New Zealand was 99 kg and 109 kg, respectively, and 64 kg in the US in 2020. Therefore, the need for animal nutrition that promotes the production of more milk that is rich in nutrients is projected to increase in the future years.
Animal Nutrition Market Restraint
- The compound feed market growth is highly impacted by rising raw material prices across the globe and stringent government regulations in developed countries. Raw material price hikes are a major restraint for animal nutrition manufacturers all over the world. Feed acids, antioxidants, and vitamins are derived from natural sources such as seeds, tree bark, and plant leaves. The rising cost of extraction from these sources, combined with stringent regulations for waste biomaterials and wastewater treatment, is limiting the growth of the animal nutrition market.
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Animal Nutrition Market Competitive Landscape
The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.
Animal Nutrition Market Top Players' Company Profiles
- Cargill, Inc.
- Archer Daniels Midland Company
- Land O'Lakes, Inc.
- BASF SE
- Koninklijke DSM N.V.
- Alltech, Inc.
- Elanco Animal Health Inc.
- Evonik Industries AG
- Novozymes A/S
- Adisseo France SAS
- Balchem Corporation
- Provimi Holding B.V.
- Kemin Industries, Inc.
- AB Vista
- Lallemand Animal Nutrition
- Biomin Holding GmbH
- Danisco Animal Nutrition (a part of DuPont)
Animal Nutrition Market Recent Developments
- In January 2022, DSM NV and Novozyme altogether introduced a product called 'HiPhorius. The newly launched solution is designed to help poultry producers achieve sustainable and profitable protein production.
- In September 2020, Evonik launched 'GuanAMINO', which is a guanidinoacetic acid (GAA) product used to enhance energy metabolism in livestock production.
Animal Nutrition Key Market Trends
- The popularity of high-protein diets is driving up demand for animal protein on a global scale. The rising demand for animal proteins suggests that in the upcoming years, the importance of amino acids in animal feed would also rise. Additionally, amino acids in the feed are a crucial part of animal husbandry's sustained growth. Therefore, a rise in the production of animal proteins would greatly boost the market's overall expansion.
- The shift from synthetic animal feed additives to organic feed is the new trend observed in the global animal nutrition market providing consumers a natural way to provide nutrition to their livestock. For instance, the majority of the consumers feed plant-based nutrition such as legumes, soybeans, potatoes, wheat, etc. in the form of crude protein
- Pets are increasingly being treated as members of the family by their owners. This trend in pet humanization has boosted pet expenditure while increasing demand for safe and nutritional pet health products. The concept of personalized pet food products is gaining popularity in developed areas and is anticipated to do the same in emerging markets in the coming years. As pet owners become more aware of the food, they are giving their pets, personalization of pet food items has a lot of potentials to increase tremendously. A tremendous potential opportunity exists for brands or businesses that provide specially made and tailored food items for pet animals as pet owners are leaning toward having better control over the ingredients used in the manufacturing of pet food products.
Animal Nutrition Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per our analysis, based on the type, the amino acid segment is projected to hold the most substantial share in the market. Based on species, the poultry segment market is projected to hold the most substantial share in the market. Based on application, the farms segment is projected to hold the most substantial share in the market. Whereas, based on the region, the Asia-Pacific region is projected to hold the most substantial share in the market.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 22.8 billion |
| Market size value in 2031 | USD 39.92 billion |
| Growth Rate | 6.42% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Animal Nutrition Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Animal Nutrition Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Animal Nutrition Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Animal Nutrition Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Animal Nutrition Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Animal Nutrition Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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