Dublin, April 18, 2023 (GLOBE NEWSWIRE) -- The "Animal Nutrition - Market Insights, Competitive Landscape, and Market Forecast - 2027" report has been added to ResearchAndMarkets.com's offering.
The global animal nutrition market is estimated to grow at a CAGR of 5.98% during the forecast period from 2022 to 2027, owing to rising awareness on animal health and nutrition and increasing industrialisation of livestock production.
The animal nutrition market is slated to witness prosperity owing to factors such as rising awareness of animal health and nutrition, growing demand for good quality meat and other animal-based food products, increasing industrialization of livestock production, increasing product development activities, and others are further expected to result in the appreciable revenue growth in the animal nutrition market during 2022-2027.
Animal Nutrition Market Dynamics:
The rising awareness of animal health and nutrition turns out to be an important factor driving the market for animal nutrition. People especially those involved in the handling of livestock animals and farms are nowadays more concerned about providing good quality and nutritious food to the animals to improve their overall health being.
Consumption of nutritious food in adequate amounts improves the growth rate, productivity, and health status of the animals. Healthy animal ensures profitable and sustainable livestock farm.
Lack of nutritious food will affect the health of the animals making them prone to several diseases. Animal diseases such as brucellosis and toxoplasmosis can even lead to infertility, abortion, and weak offspring, thereby necessitating the increased intake of nutritious feed.
The growing demand for good quality meat and other animal-based goods among consumers owing to population growth, urbanization, and rising disposable income is another factor driving the animal nutrition market.
The animal-based products such as meat, poultry, fish, and seafood are regarded as the primary and excellent source of high-quality protein, and with growing awareness of the consumption of protein-rich diet, the demand for the same is going to increase across the world, positively impacting the animal nutrition market.
However, difficulty in meeting the nutritional requirements of different animals and price sensitivity owing to the higher cost of production and raw materials may act as a restraint in the market growth for animal nutrition.
North America is expected to dominate the overall Animal Nutrition Market:
Among all the regions, North America is expected to register significant growth in the global animal nutrition market. This can be ascribed to the increasing number of pet owners, growing concern for animal health, increasing disposable income, a highly potent market in terms of product development and launches, and the local presence of key market players among other factors in the region.
One of the prominent factors stimulating the growth of the United States animal nutrition market is the large number of pet owners in the country coupled with growing concern for pet health and nutrition. According to the APPA National Pet Owners Survey 2021-2022, around 70% of the US household which is around 90.5 million homes own a pet in the US.
The rising disposable personal income is another factor anticipated to bolster the growth of the animal nutrition market in the region. As per the data published by the Bureau of Economic Analysis under the US Department of Commerce 2022, personal income and its disposition increased from USD 19,832.3 billion in 2020 to USD 21,294.8 billion in 2021 in the United States. The rising disposable income allows people to spend more on good quality meat and other animal-based products.
Animal Nutrition Market Key Players:
- Nutreco
- Alltech
- Dow
- Novozymes
- Tata Chemicals Ltd.
- ADM
- Adisseo Cargill Incorporated
- DuPont
- Kemin Industries, Inc.
- Phibro Animal Health Corporation
- Rossari Biotech Limited
- Avitech Nutrition Pvt. Ltd.
- Aries Agro Limited
- Advanced Enzymes
- Glanbia plc.
- Zinpro Corp.
- NOVUS INTERNATIONAL
- Biovet Private Ltd.
- Balchem Inc.
Key Topics Covered:
1. Animal Nutrition Market Report Introduction
2. Animal Nutrition Market Executive Summary
2.1. Scope of the Study
2.2. Market at Glance
2.3. Competitive Assessment
3. Animal Nutrition Market Key Factors Analysis
3.1. Animal Nutrition Market Drivers
3.1.1. Rising awareness of animal health and nutrition
3.1.2. Growing demand for good quality meat and other animal-based goods
3.1.3. Increasing industrialization of livestock production
3.2. Animal Nutrition Market Restraints and Challenges
3.2.1. Difficulty in meeting the nutritional requirements of different animals
3.2.2. Price sensitivity owing to the higher cost of production and raw materials
3.3. Animal Nutrition Market Opportunities
3.3.1. Growing focus on the use of microalgae in animal feed
3.3.2. Increasing government and non-government programs to maintain animal health
4. Animal Nutrition Market Porter's Five Forces Analysis
4.1. Bargaining Power of Suppliers
4.2. Bargaining Power of Consumers
4.3. Threat of New Entrants
4.4. Threat of Substitutes
4.5. Competitive Rivalry
5. COVID-19 Impact Analysis on Animal Nutrition Market
6. Animal Nutrition Market Layout
6.1. By Product Type
6.1.1. Amino Acids
6.1.2. Enzymes
6.1.3. Vitamins and Minerals
6.1.4. Medicated Feed Additives
6.1.5. Antioxidants
6.1.6. Others
6.2. By Animal Type
6.2.1. Poultry
6.2.2. Ruminant
6.2.3. Pet Food
6.2.4. Others
6.3. By Geographyin USD million (2019-2027)
6.3.1. North America
6.3.2. Europe
6.3.3. Asia-Pacific
6.3.4. Rest of the World (RoW)
7. Animal Nutrition Market Company and Product Profiles
7.1. Company Overview
7.2. Company Snapshot
7.3. Financial Overview
7.4. Product Listing
7.5. Entropy
For more information about this report visit https://www.researchandmarkets.com/r/mz4h98
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
