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In 2022, the global animal nutrition market reached a value of USD 22.19 billion, and projections indicate it will surge to approximately USD 43.1 billion by 2032. This growth is anticipated to occur at a Compound Annual Growth Rate (CAGR) of 6.95% from 2023 to 2032.
Regional Revenue Share (2022): Asia Pacific dominated with over 43.1% of the revenue.
Leading Nutrient Type: Amino acids are forecasted to lead the market from 2023 to 2032.
Primary Species: Poultry is expected to hold the highest market share during the forecast period.
Top Application Segment: Farms are projected to generate the maximum market share between 2023 and 2032.
To enhance feed nutritional value and contribute to animal healthcare, various nutrients beyond traditional ingredients like grains and silage are incorporated. Livestock breeders face pressure due to escalating meat demand, requiring increased livestock productivity. Growing awareness of animal health issues, coupled with rising consumer disposable income, propels the demand for animal-based products. However, challenges include high product costs and environmental concerns affecting livestock agriculture. Despite these limitations, increased investment by manufacturers in the feed sector is expected to drive market prospects.
The global population, according to the United Nations, has tripled since the mid-20th century, reaching 8 billion in 2022. A further increase to 9.70 billion is projected by 2050. This population growth, particularly in developing nations, presents opportunities for market expansion.
Market Size (2023): USD 23.53 Billion
Market Size (2032): USD 43.1 Billion
Growth Rate (2023 to 2032): CAGR of 6.95%
Largest Market: Asia Pacific
Second Largest Market: North America
Base Year: 2022
Forecast Period: 2023 to 2032
Segments Covered: By Nutrient Type, By Species, and By Application
Regions Covered: North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
The global rise in meat consumption.
Health hazards associated with excessive animal protein intake.
Environmental concerns impacting livestock agriculture.
Anticipated population growth exceeding 9 billion by 2050, driving increased demand for animal products.
Amino acids segment expected to dominate, playing a vital role in animal productivity.
Poultry segment poised to capture the largest market share, driven by demand for healthy food products and regulatory diet regulations.
Farms segment expected to lead, fueled by the increasing use of animal nutrition in farming for improved animal temperament, breeding, and agricultural benefits.
Asia Pacific to dominate, driven by China, Japan, and India's significant market share.
North America to capture the second-largest position, supported by major players' continuous innovative product launches.
Europe expected to grow significantly due to high meat, fish, eggs, and dairy product consumption.
Evonik increasing annual production capacity of MetAMINO® in Singapore.
Introduction of PhytriCare® IM by Evonik, a plant-based product for animal health.
Trouw Nutrition's launch of MyFeedPrint, an online environmental footprint service for animal feed products.
BASF and Schothorst Feed Research (SFR) signing a deal on non-exclusive licensing rights to OpteinicsTM, a digital tool for tracking the environmental impact of feed and animal protein.
· Novus International
· ADM
· BASF
· CJ Group
· DSM
· Meihua Group
· Alltech
· Evonik
· Kemin Industries
· Sumitomo Chemical
· Global Bio-Chem
· Adisseo
· Lonza
· Novozymes
· Biomin
· DowDuPont
· Nutreco
· Nutrient Types: Antioxidants, EU Biotics, Carotenoids, Fiber, Amino Acids, Enzymes, Medicated Feed Additives, Fatty Acids, Lipids, Minerals, Vitamins, Others.
· Species: Poultry, Ruminant, Aquaculture, Swine, Others.
· Application: Veterinarians, Animal Feed Manufacturers, Households, Farms, Others.
· Geography: North America, Europe, Asia-Pacific, Latin America, Middle East and Africa.
In 2022, the global animal nutrition market reached a value of USD 22.19 billion, and projections indicate it will surge to approximately USD 43.1 billion by 2032.
The global market is projected to grow at a CAGR of 6.95% during the forecast period, 2023-2032.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65437
Published on :
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