Pune India, Jan. 03, 2023 (GLOBE NEWSWIRE) — The market has been studied for the below mentioned-segmentation and regional analysis for North America, Europe, Asia, South America, and the Middle East and Africa. These are the key regions where the animal nutrition chemicals market is operating and is predicted to expand soon. The manufacturers and suppliers involved in the animal nutrition chemicals market are present across various countries in the above-mentioned regions.
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The report provides a detailed understanding of the market segments which have been formed by combining different prospects such as product type, application, species, and regions. Apart from this, the key driving factors, restraints, potential growth opportunities and market challenges are also discussed in the below paragraphs.
The significant players operating in the global animal nutrition chemicals market are Kemin Industries Inc., Aumgene Biosciences Pvt. Ltd., BalChem, Tata Chemicals Ltd., Cargill Inc., Novozymes, Koninklijke DSM NV, BASF SE, S.p.A., Church & Dwight Co. Inc., Elanco, Royal DSM N.V., SHV, Alltech, Nutrien Ltd. among others. To achieve a substantial market share in the worldwide animal nutrition chemicals market and strengthen their position, manufacturers are pursuing expansion methods such as current developments, mergers and acquisitions, product innovations, collaborations, and partnerships, joint ventures.
Chemicals used in animal nutrition are used to solve nutrient deficiencies in feed. They can improve immunity, fertility, newborn survival, meat quality, and feed efficiency for animals. Further, the increasing use of antimicrobials and antibiotics in animal nutrition, such as quinolones, sulphonamides, tetracyclines and macrolides, as well as an increase in zoonotic diseases have contributed to the market’s growth. Additionally, the meat industry is expected to grow as it advances and consumer awareness of healthy and safe meat increases. Urbanization and meat exports are both expected to increase demand for products in the near future. Increasing livestock product demand worldwide is driving the market. Furthermore, it is expected to benefit from the increasing incidence of animal diseases. However, this market will not grow as fast as it would like due to the use of in-feed enzymes and the strict regulations governing these types of products. Increasing livestock product demand worldwide is driving the market. Furthermore, it is expected to benefit from the increasing incidence of animal diseases. As the use of naturally derived feedstock is adopted by the industry to develop sustainable products over the forecast period, this is expected to open up colossal opportunities for industry participants, especially in regions where the environment is extremely important. However, this market will not grow as fast as it would like due to the use of in-feed enzymes and the strict regulations governing these types of products.
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Scope of Animal Nutrition Chemicals Market Report:
|Market Share Unit||USD Million|
|Segments Covered||Product Type, Application, Species, and Regions.|
|Regions Covered||North America, Europe, Asia-Pacific, South America, and Middle-East and Africa|
|Major Players||Kemin Industries Inc., Aumgene Biosciences Pvt. Ltd., BalChem, Tata Chemicals Ltd., Cargill Inc., Novozymes, Koninklijke DSM NV, BASF SE, S.p.A., Church & Dwight Co. Inc., Elanco, Royal DSM N.V., SHV, Alltech, Nutrien Ltd. among others|
Amino acids are expected to be the fastest-growing segment in 2022.
The product type segment includes minerals, carotenoids, eubiotics, amino acids, vitamins, enzyme fish oil & lipid and others. The amino acids segment is expected to witness the highest growth rate during the forecast period. Amino acids are essential for the proper functioning of the body because they are the building blocks of protein. In addition, amino acids also facilitate the growth and development of tissues and muscles. Furthermore, amino acids contribute to a variety of biochemical and metabolic processes, which propel the growth of the animal nutrition chemicals market.
Animal food manufacturers are expected to be the fastest-growing segment in 2022.
The application segment includes veterinarians, animal food manufacturers, farms, households and others. The animal food manufacturers segment is expected to witness the highest growth rate during the forecast period. Over the forecast period, animal food manufacturers will be the biggest application segment due to the increasing demand for meat and increased consumption across the globe. Rapid advancement in the meat industry, in combination with a greater awareness of healthy, safe, and nutrient-dense pet food is expected to boost industry growth.
Poultry is expected to be the fastest-growing segment in 2022.
The species segment includes pets, ruminants, swine, poultry and others. The poultry segment is expected to witness the highest growth rate during the forecast period. A growing meat demand and global consumption growth are expected to make animal food manufacturers the largest application segment over the forecast period. Growth will also be aided by rapid advancements in the meat industry and increasing consumer awareness about healthy and nutritious pet food. In addition, the poultry segment is expected to grow as consumption of poultry products rises and white meat becomes more popular over red meat.
The regional analysis provides a detailed perception of the key regions and the countries. Some of the key countries analyzed for animal nutrition chemicals include the US, Canada, Mexico, Germany, France, the U.K., Italy, Spain, Russia, China, Japan, India, Brazil, Peru, UAE, South Africa, and Saudi Arabia.
The North American region witnessed a major share. Several leading animal nutrition chemicals R&D companies within the region, including those in the US and Canada, contribute significantly to the expansion of the animal nutrition chemicals market in North America. Moreover, consumers in the North American region will play a major role in the growth of the nutritional products market because of their high spending on their pets.
Germany’s animal nutrition chemicals market size was valued at USD 1172 million in 2022 and is expected to reach USD 1954.27 million by 2030, at a CAGR of 6.6% from 2023 to 2030. Increasing consumption of protein-rich foods, low-priced, high-quality meat, and the surge in animal-based products are driving growth in the country’s animal nutrition chemicals market.
China’s animal nutrition chemicals market size was valued at USD 1218.9 million in 2022 and is expected to reach USD 2017.27 million by 2030, at a CAGR of 6.5% from 2023 to 2030.
A growing population, as well as an improvement in living standards, are expected to drive a rise in animal nutrition chemicals in the country and rising chemical industries to increase the production of animal nutrition chemicals will also propel the growth of the market in the country.
India’s animal nutrition chemicals market size was valued at USD 937.6 million in 2022 and is expected to reach USD 1575.19 million by 2030, at a CAGR of 6.7% from 2023 to 2030.
Due to the growing meat consumption and improved living standards in the country, the animal nutrition chemicals market is expected to experience significant growth over the coming years.
Covid-19 had a major impact on almost all industries, such as electronics, semiconductors, manufacturing, automobile, etc. However, several companies operating in the technology sector have seen increased revenue due to significant changes in consumer preferences toward technological services. In addition, the pandemic has led to significant growth in technology across developing and developed countries.
Furthermore, the growth of this market is mainly driven owing to the increasing demand for increasing awareness about animal nutrition and the rising concerns of pet owners for their pet’s health.
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