Global Animal Nutritional Ingredients Market (2023 Edition): Sector to Reach $19.05 Billion by 2028 at a 6% CAGR

DUBLIN, April 11, 2023 /PRNewswire/ -- The "Global Animal Nutritional Ingredients Market (2023 Edition): Analysis by Nutrient Type (Minerals, Vitamins, Enzymes, Amino Acid, Others), Species, Source, By Region, By Country: Market Size, Insights, Competition, Covid-19 Impact and Forecast (2023-2028)" report has been added to  ResearchAndMarkets.com's offering.

During the forecast period, 2023-2028, the Global Animal Nutritional Ingredients market is expected to expand at a CAGR of 6%.

Nutritional Ingredient market is propelled by rapid increase in population, rising per capita income, demand for meat consumption, increasing number of livestock population and surging number of animal diseases.

The Global Animal Nutritional Ingredients Market is expected to generate USD 19.05 billion by the end of 2028, up from USD 1.28 billion in 2021.

As per FAO reports, livestock products account for about 30 percent of the global value of agriculture and 19 percent of the value of food production, and provide 34 percent of protein and 16 percent of the energy consumed in human diets. Thus, high demand for animal-based protein is boosting sales of soybean, fish oil and grains, essential for animal nutrition.

The demand for animal nutrition has rapidly increased among animal owners to avoid disease and deficiencies among livestock and to get faster meat and animal-based product output. However, an increase in animal rearing practices and a substantial rise in the population of domesticated animals have supplemented the growth of the Animal Nutritional Ingredients.

Increasing adoption of pets among global population is driving sales of nutritional ingredients. Almost half a billion dogs and cats are owned by families in the U.S., Brazil, EU, and China alone, and it is estimated that more than half of people worldwide have a pet at home. Pet food is a specialized diet produced to meet the nutritional needs of domestic animals. Research in the field of veterinary medicine has revealed that cats and dogs need between 42 and 48 essential nutrients, with four main categories of nutrients including proteins, lipids, carbohydrates, vitamins, minerals, and independent amino acids.

Methionine is a key amino acid used in animal feed applications whose demand is mainly driven by poultry production which accounts for around 70% of demand. The remaining 30% is used for feed for swine, aquaculture and other species. According to Feedinfo, methionine demand has grown by 5-6% p.a. on average between 2010-2020. In the past two years demand has been elevated due to African Swine Flu which led to increased demand for poultry, as a substitute for swine.

Among species, poultry holds maximum share in the market due to high demand for eggs and shifting focus of western countries towards chicken meat rather than red meat. In order to promote health of poultry, grains such as Corn, Barley, Buckwheat, Oats are the main ingredients used in poultry diets to supply energy and promote growth.

Enzymes are the fastest growing nutritional ingredient as they are considered as an alternative to antibiotics, mainly preferred to increase the digestibility of the feed. However, demand for Other nutrients such as Eubiotics and Carotenoids is rising constantly due to medical and health benefits and consistent pigmentation in eggs and fish. Key carotenoids include beta carotene, lutein, canthaxanthin, astaxanthin and zeaxanthin.

The research is global in nature and covers a detailed analysis of the market in America (U.S., Canada, Rest of Americas), Europe (Germany, U.K, France, Spain, Rest of Europe), Asia-Pacific (China, Japan, South Korea, Rest of Asia-Pacific), and Middle East and Africa. Additionally, the research report displays data including market size, yearly growth & potential analysis, the competitive study of market players, investment opportunities, demand for future forecast, and so on.

Phytogenic feed additives (PFA) have been gaining considerable interest lately due to their ability to improve performance by sustaining a healthy gut environment compared to Antibiotic growth promoters (AGP). PFA has antimicrobial, anti-viral and anti-oxidant properties resulting in reduced pathogenic bacteria and a well-balanced gut microflora as well as improving feed efficiency is a perennial concern in the livestock industry.

The Global Animal Nutritional Ingredients Market is highly fragmented, with DSM holding approximately 30% share in the market, followed by ADM, Evonik , Elanco Health, among others. Also, many startup companies have come up with cutting edge technology to provide high quality nutrition to animals.

For instance, Because Animals, a US based startup, offers natural and cultured ingredients such as probiotics and nutritional yeast to produce its pet foods. Further, as animal such as fish and chicken are majorly served as protein meal for animals as well, regulatory bodies along with prominent companies are opting for sustainable techniques to manufacture vegan nutrition intake for animals, while promoting agriculture and aquaculture farming.

Scope of the Report

• The report analyses the Global Animal Nutritional Ingredients Market by Value (USD Million).
• The report presents the analysis of Animal Nutritional Ingredients Market for the historical period of 2018-2021, the base year 2022 and the forecast period of 2023-2028.
• The report analyses the Animal Nutritional Ingredients Market by Nutrient Type (Minerals, Vitamins, Enzymes, Amino acid, Others).
• The report analyses the Animal Nutritional Ingredients Market by Species (Poultry, Ruminants, Swine, Aqua, Others).
• The report analyses the Animal Nutritional Ingredients Market by Source (Corn, Soybean, Wheat, Others).
• The Global Animal Nutritional Ingredients Market has been analysed by region and countries: Americas (United States, Canada), Europe (Germany, UK, France, Spain), Asia-pacific (China, Japan, India, South Korea) and the Middle-East & Africa.
• The key insights of the report have been presented through the frameworks of SWOT and Porter's Five Forces Analysis. Also, the attractiveness of the market has been presented by region, by nutrition type, species and by source.
• Also, the major opportunities, trends, drivers and challenges of the industry has been analysed in the report.
• The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report include ADM, Evonik Industries AG, DSM, BASF, International Flavors & Fragrances Inc. (DuPont), CHR Hansen, Cargill Incorporated, Novus International, Bluestar Adisseo, Kemin Industries.

Key Target Audience:

• Animal Nutritional Ingredients Companies
• Consulting and Advisory Firms
• Research and Development Organizations
• Government and Regulatory Authorities

Company Profiles

• ADM
• Evonik
• DSM
• BASF
• International Flavors & Fragrances Inc.
• CHR Hansen
• Cargill
• Novus International
• Adisseo
• Kemin Industries

For more information about this report visit https://www.researchandmarkets.com/r/y6hrn2

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