Global Animal Nutrition Market to Surpass USD 55.52 billion by 2030 Driven by Increase in Livestock Production
SkyQuest projects that the global animal nutrition market will attain a value of USD 55.52 billion by 2030, with a CAGR of 3.5% during the forecast period (2023-2030). Other raw materials such as grains, crops, silage, residues, fertilizers, or feedstocks to increase nutrient content and have a positive effect on animal health. Animal meat products (dairy) and ever-increasing demand for eggs) has put a lot of stress on ranchers. It turned out that the issue for such farmers, however, is how to maximize yields while keeping costs down. Therefore, the best way to improve digestion and metabolism is through the use of animal feed, also known as supplementation in the global animal nutrition market.
Westford, USA, Feb. 07, 2024 (GLOBE NEWSWIRE) — Increase in livestock production and increase in demand for meat and other animal products. Demand for meat products if increased source of nutrients is due to consumer health concerns they expand, positively affecting animal forage. The global animal nutrition market is expanding rapidly in part because consumers are aware of the health benefits of algae-derived animal feed supplements. Microalgae are important for nutrient supplementation during the early stages of animal development. It ensures the highest quality of meat, milk and egg production and encourages physical development.
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Browse in-depth TOC of “Animal Nutrition Market”
● Pages – 157
● Tables – 99
● Figures – 76
Increased meat consumption has led to a significant increase in animal production as it is an abundant and easily available source of protein at a low price so global animal protein consumption will increase by 14% by 2030 according to FAO it provides the global animal nutrition market. This shows how cheap chicken is compared to other meats in low-income developing countries, while it shows that white meat is more popular in high-income countries because it is easier to cook and considered a healthy food option by 2030. All the meat sources 41% of the proteins are expected to come from chicken.
Prominent Players of Global Animal Nutrition Market
- Cargill, Inc.
- Archer Daniels Midland Company
- Land O’Lakes, Inc.
- BASF SE
- Koninklijke DSM N.V.
- Alltech, Inc.
- Chr. Hansen Holding A/S
- Elanco Animal Health Inc.
- Evonik Industries AG
- Nutreco N.V.
- Novozymes A/S
- Adisseo France SAS
- Balchem Corporation
- Provimi Holding B.V.
- Phibro Animal Health Corporation
- Kemin Industries, Inc.
- AB Vista
- Lallemand Animal Nutrition
- Biomin Holding GmbH
- Danisco Animal Nutrition (a part of DuPont)
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Poultry Segment to Dominate Market Owing to Rise in Poultry Layers
The poultry segment is expected to hold the largest share of the global animal nutrition market. According to our research, the poultry segment of the global animal nutrition market is valued at US$ 14.74 billion by 2021 and is expected to reach US$ 21.15 billion by 2028, growing at a CAGR of 5.4% year on year 2022 to the year 2028. The poultry industry is mainly driven by poultry layers.
Asia-Pacific holds the largest market share and is expected to become the largest consumption region in the global animal nutrition market. The region is also dominated by larger livestock and higher meat consumption due to higher income. China, India and Indonesia are major food consumers in the region. Rapidly growing economies and strong demand for meat, fish and dairy products have led to a significant increase in the consumption of these products. The large increase in consumption is driven by local meat and dairy production an upward, leading to a sharp increase in food consumption.
Meat Segment to Witness Significant Growth Owing to Increased Consumption of Poultry Products
The meat segment of the global animal nutrition market is expected to hold the largest market share. Increased market growth is attributed to increased consumption of poultry products, due to lower prices, shift in consumer preference towards white meat over red meat Also, increased awareness of protein intake daily is an important factor in the growth of the industry.
North America is expected to follow the global animal nutrition market. High meat production and demand coupled with high livestock production drives the animal nutrition market in the country.
A comprehensive analysis of the major players in the global animal nutrition market has been recently conducted in this report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavors to develop innovative solutions to cater to the growing demand.
Key Developments of Global Animal Nutrition Market
- In January 2022, DSM NV and Novozyme launched the drug Hyphorius together. The newly introduced solution is designed to help poultry producers achieve a more sustainable and profitable source of protein.
- In September 2020, Evonik introduced ‘GuanAMINO’, a guanidinoacetic acid (GAA) energy supplement for the livestock industry.
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Key Questions Answered in Global Animal Nutrition Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how do these differences shape the market’s future growth?
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