IMARC Group’s report titled “Animal Nutrition Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”. The global animal nutrition chemicals market 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.
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Factors Affecting the Growth of the Animal Nutrition Chemicals Industry:
- Increasing Demand for High-Quality Animal Produce:
The rising demand for high-quality animal products, including meat, dairy, and eggs, is impelling the growth of the market. There is an increase in the demand for protein-rich food among health-conscious people, compelling livestock producers to focus on enhancing the nutritional intake of animals. Improved animal nutrition plays a crucial role in boosting animal growth, reproduction, and overall health, which, in turn, enhances the quality and quantity of animal produce. Moreover, heightened awareness about the health benefits of consuming high-quality animal-derived products is influencing livestock producers to invest in quality feed additives.
- Technological Advancements in Animal Feed:
Technological advancements facilitate the development of superior-quality feed that optimally balances macronutrients like proteins, fats, and carbohydrates with essential micronutrients, such as vitamins, minerals, and amino acids. This scientific approach ensures the holistic well-being of animals, optimizing their growth, health, and productivity, which is particularly vital in the context of intensive farming practices. Additionally, technology enables the efficient scaling of production and the customization of nutrition solutions tailored to the specific requirements of different animal species, thereby broadening the application of animal nutrition chemicals.
- Growing Awareness of Animal Health and Welfare:
The expanding knowledge and concern about animal health and welfare among producers and people alike are supporting the market growth. There is a rise in the understanding that the health of animals is intrinsically linked to the overall food chain quality and safety, which is leading to increased investments in animal healthcare and nutrition. The shift towards preventive healthcare practices in animal husbandry is becoming more pronounced, with a focus on maintaining high immunity and optimal health through balanced diets. This preventive approach helps in reducing the incidence of diseases and the reliance on antibiotics, promoting a more sustainable and ethical approach to animal farming. Consequently, the demand for nutritionally enriched feed additives that support the well-being and longevity of animals is on the rise, reflecting a broader commitment to enhancing animal welfare.
Leading Companies Operating in the Global Animal Nutrition Chemicals Industry:
- 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
- Tata Chemicals Limited
Animal Nutrition Chemicals Market Report Segmentation:
By Product Type:
- Amino Acid
- Vitamin
- Mineral
- Enzyme
- Fish Oil and Lipid
- Carotenoid
- Eubiotics
- Others
Amino acid represents the largest segment due to its importance in maintaining physiological and metabolic functions in animals.
By Species:
- Poultry
- Swine
- Ruminant
- Pet
- Others
Based on the species, the market has been divided into poultry, swine, ruminant, pet, and others.
By Application:
- Animal Food Manufacturer
- Farm
- Household
- Veterinarian
- Others
Animal food manufacturer exhibits a clear dominance in the market as they utilize various nutrition chemicals for creating effective formulations.
Regional Insights:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
North America’s dominance in the animal nutrition chemicals market is attributed to the rising focus on providing proper nutrition to animals to improve their yield and productivity.
Global Animal Nutrition Chemicals Market Trends:
The rising preference for organic and sustainably produced food is bolstering the market growth. There is a rise in awareness among people about the impact of farming practices on health, animal welfare, and the environment, which is steering demand toward organic and naturally derived animal products. This shift is encouraging livestock producers to adopt organic farming methods, which include the use of natural feed additives, non-genetically modified organisms (GMO) ingredients, and nutrition chemicals that are safe and environment-friendly. The trend towards organic livestock farming not only supports the well-being of animals but also aligns with the inclination towards products that are free from synthetic chemicals and antibiotics. As a result, the demand for natural and organic animal nutrition chemicals is increasing.
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