According to the latest report by IMARC Group, titled “Animal Nutrition Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” offers a comprehensive analysis of the industry, which comprises insights on the global animal nutrition chemicals market share. The report also includes competitor and regional analysis, and contemporary advancements in the market.
The global animal nutrition chemicals market size reached US$ 10.21 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 14.5 Billion by 2027, exhibiting a growth rate (CAGR) of 5.70% during 2022-2027.
Animal nutrition chemicals refer to feed additive products or supplements that promote the growth of animals and maintain their health. They include feeding attractants, immunostimulants, prebiotics, probiotics, acidifiers, essential oils, etc. These chemicals help in improving animal immunity, fertility, pregnancy outcome, newborn survival and growth, meat quality, feed efficiency, etc. In addition to this, they also promote the ingestion, absorption, and assimilation of nutrients. Animal nutrition chemicals enhance physiological processes, such as stress resistance and reproduction. Consequently, they are extensively used in the feed industry to improve the efficacy of the final product.
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The increasing number of domesticated animals, on account of the inflating urbanization levels, is propelling the need for their health insurance, which is among the key factors driving the animal nutrition chemicals market. Moreover, the expanding pet healthcare centers and veterinaries and the growing prevalence of malnutrition among livestock are acting as significant growth-inducing factors. Besides this, the rising expenditure capacities of individuals are enabling them to spend on healthy and nutritious feed additives, thereby positively influencing the global market.
Furthermore, the elevating consumer awareness towards proper pet nutrition and extensive investments in R&D activities are stimulating the market growth. Apart from this, the widespread adoption of red and white meat and the escalating demand for protein-rich diets are also bolstering the global market. Additionally, leading manufacturers are focusing on product development by using environment-friendly methods and naturally derived feedstock, which is anticipated to fuel the animal nutrition chemicals market over the forecasted period.
Global Animal Nutrition Chemicals Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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.
Key Market Segmentation:
Breakup by Product Type:
- Amino Acid
- Fish Oil and Lipid
Breakup by Species:
Breakup by Application:
- Animal Food Manufacturer
- Asia Pacific
- North America
- Middle East and Africa
- Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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