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

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.