April 16, 2024

Feed Ingredient Market is the largest segment driving the growth of Animal Nutrition Market

Animal nutrition consists of various feed ingredients that provide balanced nutrition to animals to support their growth and development. It helps improve productivity, reproduction, growth rate and overall health of animals.

The Animal Nutrition market is estimated to be valued at US$ 48100 Mn or Mn in 2023 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market key trends:
One of the major trends in the animal nutrition market is the rising demand for natural and organic animal feed. Consumers are increasingly preferring livestock products from animals that are fed organic and natural feed devoid of genetically modified organisms and additives. Thus, manufacturers are developing organic and natural feed products using ingredients such as green fodder, plant-derived proteins and minerals to cater to this demand. For instance, Manna Pro LLC offers organic animal feed products manufactured using non-GMO plant and mineral sources.

SWOT Analysis
Strength: Animal nutrition offers precise nutrition to animals to support their health and growth. Tailored animal feed enhances productivity and quality of animal-based food products.Weakness: High R&D costs associated with the development of specialized feed formulations. Rising input costs of feed ingredients pose challenge to profitability.Opportunity: Growing demand for animal protein worldwide presents an opportunity to cater to the feed requirements. Emerging economies offer untapped growth potential.
Threats: Stringent regulations restrict the use of Antibiotics as growth promoters. Threat from alternatives such as probiotics and prebiotics.

Key Takeaways

The global Animal Nutrition market is expected to witness high growth, exhibiting CAGR of 5.0% over the forecast period, due to increasing demand for animal proteins. Asia Pacific dominates the global market and is expected to grow at the fastest rate due to rising meat consumption in China and India.

Regional analysis: Asia Pacific accounts for the largest share in the global Animal Nutrition market owing to the presence of major livestock breeding countries such as China and India. The region is expected to grow at a CAGR of around 6% during the forecast period. North America and Europe are other major markets characterized by high meat consumption.

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. These players are focused on strengthening their product portfolio through mergers, acquisitions and collaborations.

*Note:

  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it