Visiongain has published a new report on Animal Nutrition Ingredients Market Report to 2031. The market is segmented on the basis of livestock, nutrients, and by end-user. By livestock, the market is categorized as Aquaculture, Poultry, Ruminants, Pet, Swine, Others, By Nutrients the market is divided into (Carotenoids, Eubiotics, Vitamins, Enzymes, Minerals, Others), by end users the market is divided into (farms, households, veterinarians, others) by Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa). The report includes detailed Profiles of Leading Animal Nutrition Ingredients Companies. PLUS, COVID-19 Recovery Scenarios.
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The study covers detailed and insightful chapters on market overview, market segments, new developments, competitive landscape, strategic recommendations, key company analysis, market opportunities, pricing analysis, gap analysis, porter’s 5 forces model, company profiling, geographical analysis, and analytical overview of the market. Rising production of animal meat, growing investment in aquaculture and poultry, cohesive government policies and rising animal health expenditure are some of the factors driving the growth of the Animal Nutrition Ingredients market.
COVID-19 Impact on the Global Animal Nutrition Ingredients Market
According to the Center for Disease Control and Prevention (CDC), swine, poultry and farm animals are prone to virus and bacteria. Apart from cats and dogs being reported COVID positive in several countries, including the US, the global animal nutrition ingredients market was severely affected by the COVID-19 pandemic. A series of lockdown in most of the economies hindered the growth of the animal nutrition ingredients market.
Market Drivers
Increasing adoption of Pets.
The adoption of companion animals is increasing due to the rise in awareness for animal healthcare and safety. The changes in lifestyle and availability of animal health products such as antimicrobial, antibacterial, antibiotics, and parasiticides are contributing to the growth of the Animal Nutrition Ingredients market.
Increasing consumption of livestock and livestock-based products
Livestock are considered as the source of protein-based diet, income, employment, and possibly foreign exchange. The consumption of livestock and the livestock-based product has increased rapidly in emerging economies such as China, Korea and India, the demand for food has increased due to the huge population and recent growth in consumer income. The factors contributing to the growth of livestock consumption includes- rising disposable income, dietary change, improved livestock-based products, and market development.
Market Opportunities
Government initiatives for animal health & safety
The changes in parasitic infections (such as parasite genetics, biology) have increased parasiticide resistance, which is one of the emerging concerns in various species. The parasitic resistance is severely affecting the health and the productivity of animals. However, to combat the growing healthcare threat, the FDA developed an anti-parasitic resistance management strategy. This strategy encourages the sustainable use of the approved antiparasitic drugs in livestock such as poultry, cattle, sheep, horses, goats, and swine, The sustainable enables slowing the development of antiparasitic resistance and ensure antiparasitic drugs to remain effective for long period.
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Untapped Asia Pacific will create ample opportunity
Asia Pacific will emerge as the leading regional animal nutrition ingredients market owing to rising disposable income, increasing per capita meat consumption, and growing consumer awareness regarding the meat quality. Cohesive government policies and huge investment in Asia-Pacific region will create opportunities for the nutrition ingredients market.
Competitive Landscape
Cargill, Elanco Animal Health Inc., Altech, ALLTECH INC., Kemin industries, Dupont, Abbey Animal Health, BAL CHEM, The DOW chemical, Jubilant life sciences, Bioniche Life Sciences Inc. (Canada)
DSM, Chanelle Pharma Group, Archer daniels midland company are some of the key players contributing to the growth of the Global Animal Nutrition Ingredients market. The market players are adopting new strategies to stay competitive in the global market such as new product developments, joint ventures, mergers and acquisitions, and geographical expansions. For instance, on 13th October 2020, Cargill entered a partnership with BinSentry to help animal producers and feed mills accurately and safely track feed inventory.
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