The global animal nutrition chemicalsmarket size reached US$ 10.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 15.3 Billion by 2028, exhibiting a growth rate (CAGR) of 5.5% during 2023-2028.
Animal nutrition chemicals are feed additive products or supplements that promote the growth of animals and maintain their health. They include feeding attractants, immunostimulants, prebiotics, probiotics, acidifiers, and essential oils. They help improve animal immunity, fertility, pregnancy outcome, newborn survival and growth, meat quality, and feed efficiency. They assist in promoting ingestion, absorption, assimilation of nutrients, growth, and health. Besides this, they aid in improving physiological processes, such as stress resistance and reproduction. As a result, animal nutrition chemicals are extensively utilized in the feed industry to improve the efficacy of the final product.
Animal Nutrition Chemicals Market Trends:
Rapid urbanization is leading to a significant increase in domesticated animals across the globe and the rising requirement for their health insurance represents one of the key factors positively influencing the market. The expansion of pet health care centers and veterinaries and the rising risk of deadly health issues and malnutrition among livestock are also driving the market. In addition, the increasing purchasing power of individuals is enabling them to spend on healthy and nutritious feed additives. This, in confluence with the rising awareness among individuals about proper pet nutrition, is driving the demand for animal nutrition chemicals. Apart from this, considerable development in the meat and poultry market and the increasing consumption of red and white meat, and the escalating demand for protein-rich diets are other factors propelling the need for animal nutrition chemicals. This, in turn, is offering lucrative growth opportunities to industry investors. Moreover, the rising focus of manufacturers on product development by adopting environment-friendly methods and using naturally derived feedstock is anticipated to provide numerous opportunities to key players.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global animal nutrition chemicalsmarket report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type, species and application.
The competitive landscape of the industry has also been examined along with the profiles of the key players being Aumgene Biosciences Pvt. Ltd., Balchem Corporation, BASF SE, Cargill Incorporated, Evonik Industries AG (RAG-Stiftung), Kemin Industries Inc., Koninklijke DSM NV, Novozymes A/S A and Tata Chemicals Limited.
Base Year of the Analysis
Product Type, Species, Application, Region
Asia Pacific, Europe, North America, Latin America, Middle East and Africa
United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
Aumgene Biosciences Pvt. Ltd., Balchem Corporation, BASF SE, Cargill Incorporated, Evonik Industries AG (RAG-Stiftung), Kemin Industries Inc., Koninklijke DSM NV, Novozymes A/S A and Tata Chemicals Limited.
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Key Questions Answered in This Report
The global animal nutrition chemicals market was valued at US$ 10.9 Billion in 2022.
We expect the global animal nutrition chemicals market to exhibit a CAGR of 5.5% during 2023-2028.
The rising demand for animal nutrition chemicals to improve animal immunity and promote ingestion, absorption, assimilation of nutrients, etc., is primarily driving the global animal nutrition chemicals market.
The sudden outbreak of the COVID-19 pandemic has led to the changing consumer inclination from conventional brick-and-mortar distribution channels towards online retail platforms for the purchase of animal nutrition-based chemicals.
Based on the product type, the global animal nutrition chemicals market can be segmented into amino acid, vitamin, mineral, enzyme, fish oil and lipid, carotenoid, eubiotics, and others. Currently, amino acid holds the majority of the global market share.
Based on the species, the global animal nutrition chemicals market has been divided into poultry, swine, ruminant, pet, and others. Among these, poultry currently exhibits a clear dominance in the market.
Based on the application, the global animal nutrition chemicals market can be categorized into animal food manufacturer, farm, household, veterinarian, and others. Currently, animal food manufacturer accounts for the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where North America currently dominates the global market.
Some of the major players in the global animal nutrition chemicals market include Aumgene Biosciences Pvt. Ltd., Balchem Corporation, BASF SE, Cargill Incorporated, Evonik Industries AG (RAG-Stiftung), Kemin Industries Inc., Koninklijke DSM NV, Novozymes A/S A, and Tata Chemicals Limited.
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