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The global animal nutrition market describes products essential to maintain the health, growth and productivity of livestock, poultry and aquaculture animals. Key animal nutrition products include amino acids, vitamins, minerals, enzymes, probiotics and other feed additives that are formulated to meet the specific nutritional needs of animals. These feed additives help improve the quality, efficiency and safety of animal protein production.
The Global Animal Nutrition Market is estimated to be valued at US$ 48100 Mn in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030.
Key Takeaways
Key players operating in the animal nutrition market are Archer-Daniels-Midland Company, Adisseo France SAS, Alltech, BASF SE, Cargill Inc., Dow Chemical Company, DuPont, Evonik Industries AG, Tata Chemicals, Novozymes A/S, Royal DSM N.V., Kemin Industries, Inc., and Nutreco N.V. Growing consumption of animal proteins has increased the demand for high-quality animal feed. Key players are focusing on product innovations and mergers & acquisitions to cater to this growing demand.
The animal nutrition market is witnessing high growth owing to the increasing demand for processed food such as dairy products, meat and poultry. Developing nations with rising per capita income are witnessing higher consumption of meat and dairy. This is expected to drive the demand for animal feed over the forecast period.
Key players are expanding their operations in emerging countries in Asia Pacific and South America through acquisitions and partnerships. Nations like China, India, Brazil and Mexico offer high growth opportunities with rising meat consumption and growing livestock farming. Strategic expansion allows key players to tap into these high growth regional markets.
Market Key Trends
One of the key trends gaining traction in the animal nutrition market is the rise of natural and organic feed products. Consumers are increasingly demanding meat and dairy produced from animals fed organic and vegetarian diets. This has encouraged feed manufacturers to invest in developing cleaner label, antibiotic-free and natural animal feed products. Additionally, the demand for specialized feeds designed for different production stages and animal species is growing. Feed manufacturers are customizing feed formulations specific to the nutritional needs at various growth phases of livestock and poultry. This stage-specific animal nutrition helps improve yields and productivity.
Porter’s Analysis
Threat of new entrants: The animal nutrition market has high entry barriers for new companies due to its large production scale and requirements.
Bargaining power of buyers: Buyers have moderate bargaining power due to the availability of substitutes. However, customized products increase their dependence on existing suppliers.
Bargaining power of suppliers: Key raw material suppliers have some bargaining power due to the limited options for substitutes. However, large buyers can source from multiple suppliers to reduce dependency.
Threat of new substitutes: Substitute threat is moderate as manufacturers focus on customizing products according to customer requirements and regulations.
Competitive rivalry: The market has global presence with many large competitors focusing on acquisitions and new product innovations to gain market share.
Geographically, the United States represents the largest market for animal nutrition, valued at US$ 16,260 Mn in 2024 owing to the large livestock industry. China is expected to witness the fastest CAGR of 6.2% during the forecast period. This can be attributed to rising meat consumption, growth of aquaculture, and government support for the industry.
The animal nutrition market is concentrated in the North American and European regions in terms of value owing to stringent regulatory frameworks and consolidation among key players. The Asia Pacific region is emerging as the fastest growing market and expected to account for over 30% of the global market share by 2030 led by China, India and Southeast Asian countries. Growth in the region can be attributed to increasing meat consumption and expansion of industrial livestock farming.
*Note:
- Source: Coherent Market Insights, Public sources, Desk research
- We have leveraged AI tools to mine information and compile it
