Global Animal nutrition chemicals Market to Reach US$ 20.14 Bn by 2029
The global animal nutrition chemicals market is projected to reach US$ 20.14 Bn by the end of 2029. The market was valued at US$ 11.57 Bn in 2019. If these figures hold true, the market will exhibit a CAGR of 5.7% between 2019 and 2029. Regionally, South Asia emerged as the leading market for nutrition chemicals. During the forecast period, the rising demand for pet insurance and growing animal health expenditure will drive the global market for animal nutrition chemicals.
KEY RESEARCH FINDINGS
- The rising incidence of epidemics, rising livestock population and the rising concerns of pet owners regarding their pets’ health are triggering the demand for safe and healthy pet foods, which in turn is stimulating the growth of the global animal nutrition chemicals market.
- Asia Pacific and Europe will emerge as highly lucrative markets for animal nutrition chemicals in near term. Surging number of millennial who are at the forefront of driving animal nutrition food trends is positively impacting the Animal nutrition chemicals market.
- The increasing application of animal nutrition chemicals in animal food industry will boost the market in the coming years.
- Increased use of in-feed enzymes and probiotics as an alternative are the restraining factors, hampering growth of the animal nutrition chemicals market.
KEY FACTORS MOLDING ANIMAL NUTRITION CHEMICALS MARKET
Rising Ownership of Pet Animals
Pet-ownership is a status symbol in western culture. The trend I sweeping across developing countries including, China, India, and Japan. Moreover, people are adopting dogs and cats for therapeutic and psychological purposes. Case in point, ownership of pet animals in the US has swelled about twice over the last few decades. The American Pet Products Association (APPA) finds that, in 2012, there were nearly 8o million pet dogs and over 90 million pet cats in the nation, with almost 50% of households owning at least a dog or a cat. Further, The Week magazine reveals that, total expenditure on companion animals in the US - animal food, and healthcare, has ascended progressively.
Increasing Cases of Zoonotic Disorders
Foodborne zoonotic disorders are a considerable and pervasive threat on global public health. In the European Union (EU), more than 350, 000 human caseloads are recorder a year. In addition, zoonotic disorders are expected to be responsible for over 2.5 billion incidences of human illness and about 3 bullion fatalities worldwide. Alerted by these facts and numbers, the EU has embraced integrated method to food security that incorporates risk management and risk assessment measures. This approach is implemented by efficient risk communication.
COVID-19 Impact on Animal Nutrition Chemicals Market
The coronavirus (COVID-19) pandemic has triggered significant disturbances in global supply chains. As market players continue to confront challenges in fulfilling their raw material requisites, situation is getting worsen by labor shortage. These themes are hampering production capabilities of players in animal nutrition chemicals market. Furthermore, nationwide lockdowns implemented by several countries has adversely affected transportation and logistics. Nevertheless, increasing adoption of bio-based iterations are touted to offer potential growth opportunities, after the containment of the pandemic.
- Players in animal nutrition chemicals market are allocating their resources to product capacity expansion, and augmenting techniques for sourcing raw materials.
- In addition, they continue to tap white spaces in dairy industry for sustained returns.
Base year considered
Actual estimates/Historical data
2015 - 2019
2020 - 2030
Value (USD) Bn
Product Type, Application, Form.
North America, Latin America, Europe, East Asia, South Asia, Oceania and Middle East & Africa.
BASF SE, Dow Chemical Company, DuPont, Tata chemicals Ltd, S.p.A., Cargill, Inc., Evonik Industries AG, Novozymes, Royal DSM, and Balchem Corporation.
Revenue forecast, company share, competitive landscape, growth factors, and trends
Animal Nutrition Chemicals to Remain in High Demand Backed by Expanding Market for Animal Protein Products
The increasing demand for livestock products across the globe is driving the market. Also, it is expected to gain from the increasing incidence of diseases in animals. However, the use of in feed enzymes and stringent regulations on products such as these are limiting the growth of this market. Animal nutrition chemicals are supplements given to animals to correct deficiencies in feed .In addition to this, animal nutrition chemicals improve animal immunity, pregnancy outcome, fertility, new born survival and growth, meat quality, and feed efficiency. The increasing demand for pets and their health insurance will create growth opportunities for this market.
Economic Expansion to Offer Major Growth Opportunities in Developing Nations
Regionally, the global Animal nutrition chemicals market covers North America, Latin America, Europe, East Asia, South Asia, Oceania and the Middle East and Asia. Among these regions North America accounted for a substantial share in the market. The growth of the market is largely supplemented by the growing population of pets. The U.S. will be a major contributor owing to the high consumer spending on their pets, which is leading to growing demand for nutritional products.
Countries in Asia Pacific and Europe also offer substantial growth opportunities to the market. Impressive growth in adoption of companion animals’ witnessed in the last couple of years will boost the market. On the flip side, the increasing prices of raw materials required for the manufacturing these chemicals are hampering the growth of the market. Worsening situation is supply chain disruptions caused due to the recent COVID-19 impact. With manufacturers facing difficulties in procuring raw materials and fewer labourers available, the production of animal nutrition chemicals may get hampered. Limited transport due to lockdown imposed across various nations is also restricting the market’s growth. Nonetheless, the growing popularity of bio-based animal nutrition chemicals is poised to unfold new growth opportunities for the market.
* This data is only a representation. Actual data may vary and will be available in report.
Rising Awareness among Consumers will Stoke Growth Opportunities
The rising awareness among consumers will drive animal nutrition chemicals market. In addition to this, the market will benefit from their increasing disposable incomes and consequent willingness to spend on animal nutrition. In developed markets, sales are likely to remain high, aided by the presence of high awareness among consumers. Also, their purchasing power is comparatively high, which will support the growth of the market.
Amino Acid segment held the leading market share
Eubiotics segment forecast to higher rate of growth
Anima food manufacturers segment holds dominance
Households segment to rise at a higher CAGR
Poultry segment holds dominance
Pets segment to rise at a higher CAGR
How Growth will Unfold
Rising consumer awareness regarding proper pet nutrition is anticipated to encourage consumers to pay premium amounts for healthy and nutritious pet food over the forecast period. Meat consumption has increased over the past few years on account of rising population particularly in the emerging economies. Rapid meat and poultry market developments, coupled with growing competition, have stimulated the urgency for improving and maintaining product quality amongst the key market players. Also, to woo consumers post coronavirus impact, manufacturers need to increasingly focus on product quality. Economic developments along with increasing disposable income have made consumers more attentive towards pet care and nutrition. These aforementioned factors are presumed to drive the animal nutrition chemicals market in the upcoming years.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Animal Nutrition Chemicals Market: Global Industry Analysis 2015-2019 & Opportunity Assessment 2020-2030
A recent market study published by Future Market Insights on the Animal Nutrition Chemicals market offers global industry analysis for 2015-2019 & opportunity assessment for 2020-2030. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters of the Animal Nutrition Chemicals market, the growth prospects of the market are obtained with maximum precision.
Animal Nutrition Chemicals Market Taxonomy
The Animal Nutrition Chemicals market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Amino Acid
- Fish Oil & Lipid
- Others (Vacuum Salts and Organic Food)
- Animal Food Manufacturer
- Others (Domestic Animal Feed and Aquaculture)
- North America
- Latin America
- East Asia
- South Asia
- Others (Aquaculture and Euqines)
The executive summary of the Animal Nutrition Chemicals market includes the market proprietary wheel of fortune, demand-side and supply-side trends, opportunity assessment, and recommendations on the Animal Nutrition Chemicals market.
Readers can find the detailed segmentation and definition of the Animal Nutrition Chemicals market in this chapter, which will help them understand basic information about the Animal Nutrition Chemicals market. This section also highlights the inclusions and exclusions, which help the reader, understand the scope of the Animal Nutrition Chemicals market report.
The associated industry assessment of the Animal Nutrition Chemicals market is carried out in this section. The macroeconomic factors affecting growth of the Animal Nutrition Chemicals market are provided in this section and the impact of these macroeconomic indicators on the Animal Nutrition Chemicals market is analyzed. The processing overview and technological advancements in the Animal Nutrition Chemicals market is also provided.
Profit margins at each level of the Animal Nutrition Chemicals market are analyzed and readers can find detailed information on top importers and exporters as well as the value chain of the Animal Nutrition Chemicals market.
The drivers and restraints impacting the growth of the Animal Nutrition Chemicals market are explained in this chapter. Opportunities and ongoing trends in the Animal Nutrition Chemicals market are also comprehensively discussed.
This chapter includes detailed analysis of the historical Animal Nutrition Chemicals market (2015-2019), along with an opportunity analysis for the forecast period (2020-2030). Readers can also find the absolute $ opportunity for the current year (2019 - 2020) and incremental opportunity for the forecast period (2020-2030).
Based on product type, the Animal Nutrition Chemicals market is segmented into Amino Acid, Vitamin, Mineral, Enzyme, Fish Oil & Lipid, Carotenoid, Eubiotics and others (Vacuum Salts and Organic Food). In this chapter, readers can find information about key trends and developments in the Animal Nutrition Chemicals market and market attractiveness analysis based on raw material.
Based on Application, the Animal Nutrition Chemicals market is classified into Animal Food Manufacturer, Farm, Household, Veterinarian and Others (Domestic Animal Feed and Aquaculture). This part also offers market attractiveness analysis based on Application.
This chapter explains how the Animal Nutrition Chemicals market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa.
This chapter includes a detailed analysis of the growth of the Animal Nutrition Chemicals market in North America, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on end users and countries in the North America region.
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the Animal Nutrition Chemicals market in Latin America. This chapter also includes growth prospects of the Animal Nutrition Chemicals market in leading LATAM countries such as Brazil, Mexico, and the Rest of Latin America.
Important growth prospects of the Animal Nutrition Chemicals market based on its end users in several countries such as Germany, U.K., France, Italy, Spain, BENELUX, Nordic, Russia, Poland, and the Rest of Western Europe are included in this chapter.
In this chapter, readers can find information about key trends and developments in the key countries of South Asia such as India, Thailand, Malaysia, Indonesia, Singapore, and Rest of South Asia Animal Nutrition Chemicals market.
This chapter includes a detailed analysis of the growth of the Animal Nutrition Chemicals market in the East Asia region, along with a country-wise assessment that includes Japan, China, and South Korea. Readers can also find regional trends, regulations, and market growth based on end users and countries in the APEJ region.
This chapter offers insights into how the Animal Nutrition Chemicals market is expected to grow in major countries in the Middle East region such as Australia and New Zealand, during the forecast period 2020-2030.
This chapter contains information about the market growth of Animal Nutrition Chemicals in Middle East region such as GCC Countries, South Africa, North Africa, and the Rest of Middle East, during the forecast period 2020-2030.
Based on species, the Animal Nutrition Chemicals market is Poultry, Swine, Ruminant, Pet and Others (Aquaculture and Euqines). In this chapter, readers can find information about key trends and developments in the Animal Nutrition Chemicals market and market attractiveness analysis based on raw material.
In this chapter, readers can find detailed information about tier analysis and market concentration of the key players in the Animal Nutrition Chemicals market along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of leading manufacturers in the Animal Nutrition Chemicals market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are BASF SE, Dow Chemical Company, DuPont, Tata chemicals Ltd, S.p.A., Cargill, Inc., Evonik Industries AG, Novozymes, Royal DSM, and Balchem Corporation.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Animal Nutrition Chemicals report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the Animal Nutrition Chemicals market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
- Production Managers
- Distributors Heads
- Sales Executives
- Product Manufacturers
- Industry Experts
- End Users
- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
- Industry Associations
- Dieticians Association
- Food and Agriculture Organization
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits