GLOBAL ANIMAL NUTRITION MARKET FORECAST 2019-2027
LONDON, Nov. 6, 2018 /PRNewswire/ -- KEY FINDINGS
The global animal nutrition market is expected to have a CAGR of 5.94% during the forecast years of 2019-2027. Animal nutrition's are dietary supplements that offer health benefits for animals and in turn result in increased productivity and higher survival rates, as it boosts their immunities.
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MARKET INSIGHTS
The global animal nutrition market is segregated on the basis of product types, species, and applications.Animal nutrition is extensively used for various purposes.
The sales of animal nutrition chemical products have increased among animal farmers owing to the unprecedented demand for meat which directly raises the firms' sales.Another major application of animal nutrition is household pets.
Increasing population of pets is also a major market driver. However, the high cost of animal nutrition and low-quality products are among a few factors that are hindering this market's growth.
REGIONAL INSIGHTS
The global animal nutrition market has been geographically segregated as North America, Europe, Asia-Pacific and the rest of the world.The animal nutrition market in the Asia Pacific is expected to hold the largest share and is expected to grow at a higher CAGR by 2027.
Increase in livestock population and rise in demand for protein-rich meat have supplemented the market growth in this region. China, which is a major country in the Asia Pacific market, is one of the largest cattle producing nations in the world.
COMPETITIVE INSIGHTS
Some of the key players in the global animal nutrition market are Agrium Inc., Alltech Inc., BAL Chem, Basf Se, Cargill Incorporated Cargill Office Center, Church & Dwight Co. Inc., Dsm, Elanco, Evonik Industries Ag, Kemin Industries, Koninklijke Dsm Nv, Novozymes, Shv N.V. and Tata Chemicals Ltd. S.P.A.
Companies mentioned
1. AGRIUM INC
2. ALLTECH INC.
3. BAL CHEM
4. BASF SE
5. CARGILL, INCORPORATED CARGILL OFFICE CENTER
6. CHURCH & DWIGHT CO., INC.
7. DSM
8. ELANCO
9. EVONIK INDUSTRIES AG
10. KEMIN INDUSTRIES
11. KONINKLIJKE DSM NV
12. NOVOZYMES
13. SHV N.V.
14. TATA CHEMICALS LTD. S.P.A.
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