CAGR: 6.30%Current Market Size: USD 15123 MillionFastest Growing Region: APAC
Largest Market: North AmericaProjection Time: 2023-2030Base Year: 2022
The Global Animal Nutrition Chemicals market is expected to grow from USD 15123 million in 2022 to USD 24654.9 million by 2030, at a CAGR of 6.30% during the Projection period 2023-2030. The growth of this market is mainly driven owing to the increasing awareness about animal nutrition and the rising concerns of pet owners for their pet’s health.
Supplements given to animals for their nutritional needs are known as animal nutrition chemicals, to correct deficiencies in their feed and improve animal health, fertility, survival of newborns, growth, pregnancy outcomes, meat quality, and feed efficiency. The market growth is also driven by the rising use of various types of antimicrobials and antibiotics in animal nutrition, such as quinolones, sulphonamides, tetracycline, and macrolides, as well as an increase in the prevalence of zoonotic illnesses worldwide. The meat industry is also expected to grow due to rapid advancements as well as an increase in consumer awareness regarding health and safety issues. It is anticipated that urbanization and meat exports will positively influence product demand over the next several years. Increasing urbanization and meat exports are expected to influence product demand over the next few years. The increasing demand for livestock products across the globe is driving the market, and it is expected to benefit from the increasing incidence of diseases in animals, but the use of enzymes in feed and stringent regulations on such products are limiting the market's growth. Over the Projection period, bio-friendly product development based on naturally derived feedstocks is expected to provide major opportunities for industry participants, especially in environmentally conscious regions like Europe and North America.
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Market Dynamics:
Drivers:
In response to pet owners' concerns about their pets' health, the global animal nutrition chemicals market is being stimulated by the demand for safe and healthy pet foods. In addition, various initiatives started by the government to spread awareness about the importance of nutrition in animal feed are also triggering the growth of the market. Manufacturers are continuously working on the consumer’s demand and nutritional requirements of animals to stay healthy. The rising demand from the poultry sector for nutritional feed for poultry animals in order to enhance the production and quality of the products which are derived from poultry animals also accounts for a major share in the growth of the market.
Restraints:
It has been observed that a lack of awareness about the nutritional requirement of animals are affecting the growth of the market as consumers are not aware of the disadvantages of nutrition-deficient diets in animals. If the animals are suffering from nutrition deficiency, then it will directly affect the animal-based products and meat products which can affect the health of the consumer as well. Due to this, it is important to have proper knowledge about animal nutrition.
Opportunities:
The rising demand for animal-based and meat products is opening new growth opportunities for the animal nutrition chemicals market. The demand for meat and animal-based products is coupled in the last few years due to rising demand for meat and animal-based products in various countries. Additionally, the meat industry is expected to grow as it advances and consumer awareness of healthy and safe meat increases. Moreover, nutritional chemicals will improve the health as well as the proper functioning of animal’s body which will also improves the quality and quantity of products coming from animal sources.
Challenges:
The market is witnessing immense growth due to the rising demand for animal nutrition in various sectors but there are some factors which are hampering the growth of the market such as the availability of alternatives at low prices. It has been observed that the majority of consumers are shifting towards other alternatives present in the market due to cost-effectiveness. The reason behind the high cost of animal nutrition chemicals is the high-cost production which is affecting the growth of the market.
Segmentation Analysis:
The global gift card market has been segmented based on card product type, application, species, and region.
By Product Type
The product type segment includes minerals, carotenoids, eubiotics, amino acids, vitamins, enzyme fish oil & lipid and others. The amino acids segment led the largest share of the animal nutrition chemicals market with a market share of around 26.2% in 2022. Proteins are made from amino acids, and amino acids are required for the proper growth and functioning of the body, such as in muscle building and tissue growth. In addition, amino acids also play a key role in various biochemical processes and metabolic functions. The importance of amino acids in the body's functioning is the key factor behind the huge demand for amino acids, which propels the growth of the animal nutrition chemicals market.
By Application
The application segment includes veterinarians, animal food manufacturers, farms, households and others. The animal food manufacturers segment led the largest share of the animal nutrition chemicals market with a market share of around 29.5% in 2022. Over the Projection period, animal food manufacturers will be the biggest application segment due to the increasing demand for meat and increased consumption across the globe. Rapid advancement in the meat industry in combination with a greater awareness of healthy, safe, and nutrient-dense pet food is expected to boost industry growth.
By Species
The species segment includes pets, ruminants, swine, poultry, and others. Poultry segment led the largest share of the animal nutrition chemicals market with a market share of around 28% in 2022. There will be an increase in demand for poultry nutrition products in emerging countries as more people become aware of the benefits of compound feed, which is cost-effective and rich in nutrients. Moreover, In the poultry segment, growth is expected to be driven by a growing preference for white meat over red meat, as well as a growth in the consumption of poultry products.
Global Animal Nutrition Chemicals Market- Sales Analysis.
The sale of animal nutrition chemicals expanded at a CAGR of 5.90% from 2016 to 2022.
Increasing consumer awareness about proper pet nutrition is expected to boost the growth of the pet food market as consumers pay premium prices for healthy and nutritious pet food.
Increasing urbanization and meat exports are expected to influence product demand over the next few years. In addition, continuous research and development impacts the growth of the market positively.
Moreover, increasing meat demand coupled with growing consumption globally is expected to lead to animal food manufacturers being the largest application segment over the Projection period.
Thus, owing to the aforementioned factors, the global animal nutrition chemicals market is expected to grow at a CAGR of 6.30% during the Projection period from 2023 to 2030.
By Regional Analysis:
The regions analyzed for the gift card market include North America, Europe, South America, Asia Pacific, the Middle East, and Africa. The North American region dominated the animal nutrition chemicals market and held a 37.6% share of the market revenue in 2022.
Global Animal Nutrition Chemicals Market- Country Analysis:
Germany's animal nutrition chemicals market size was valued at USD 1172 million in 2022 and is expected to reach USD 1954.27 million by 2030, at a CAGR of 6.6% from 2023 to 2030.
The market for animal nutrition chemicals is growing due to the rise in protein-rich diets, high demand for low-priced, high-quality meat, and the increase in consumption of animal-based products in the country.
China’s animal nutrition chemicals market size was valued at USD 1218.9 million in 2022 and is expected to reach USD 2017.27 million by 2030, at a CAGR of 6.5% from 2023 to 2030.
With the growth of meat consumption and improving living standards in the country, the animal nutrition chemicals demand is expected to rise rapidly. Moreover, the increasing number of chemical industries in the country will further add more value to the market's growth.
India's animal nutrition chemicals market size was valued at USD 937.6 million in 2022 and is expected to reach USD 1575.19 million by 2030, at a CAGR of 6.7% from 2023 to 2030.
As meat consumption increases and living standards improve in the country, the animal nutrition chemicals market is expected to witness significant growth in the country.
Key Industry Players Analysis:
To increase their market position in the global animal nutrition chemicals business, top companies focus on tactics such as adopting new technology, mergers & acquisitions, product developments, collaborations, partnerships, joint ventures, etc.
Latest Development:
Report Metrics
Report Attribute |
Details |
Study Period |
2022-2030 |
Base year |
2022 |
CAGR (%) |
6.30% |
Market Size |
15123 million in 2022 |
Projection period |
2023-2030 |
Projection unit |
Value (USD) |
Segments covered |
By Product Type, By Application, By Species, and By Region. |
Report Scope |
Revenue Projection, competitive landscape, company ranking, growth factors, and trends |
Companies covered |
Kemin Industries Inc., Aumgene Biosciences Pvt. Ltd., BalChem, Tata Chemicals Ltd., Cargill Inc., Novozymes, Koninklijke DSM NV, BASF SE, S.p.A., Church & Dwight Co. Inc., Elanco, Royal DSM N.V., SHV, Alltech, and Nutrien Ltd. |
By Product Type |
|
By Application |
|
By Species |
|
Regional scope |
|
Scope of the Report
Global Animal Nutrition Chemicals Market by Product Type:
Global Animal Nutrition Chemicals Market by Application:
Global Animal Nutrition Chemicals Market by Species:
Global Animal Nutrition Chemicals Market by Region:
Global Animal Nutrition Chemicals market size is USD 15123 million in 2022
Global Animal Nutrition Chemicals market is expected to reach USD 24654.9 million by 2030, at a CAGR of 6.30% from 2023 to 2030.
North American region will witness more animal nutrition chemicals market growth.
Growing demand for animal-based and meat products and rising awareness about pet health among pet owners will propel the market's growth.
Kemin Industries Inc., Aumgene Biosciences Pvt. Ltd., BalChem, Tata Chemicals Ltd., Cargill Inc., Novozymes, Koninklijke DSM NV, BASF SE, S.p.A., Church & Dwight Co. Inc., Elanco, Royal DSM N.V., SHV, Alltech, Nutrien Ltd. among others.
Political Factors- Animal nutrition chemicals is exposed to the various political settings of countries due to the fact that it has grown its services in many countries. It should be noted that legislation may vary from one country to another, as shown by the fact that Pestel Analysis of animal nutrition chemicals market have been banned in some areas that have experienced a dry spell. This can be a challenging element for the animal nutrition chemicals market because it needs to maintain standards throughout all activities.
Economic Factors- It should be highlighted that the idea depends on the economy's growing purchasing power because all types of vehicles essentially result in a financial expense for the consumer. Additionally, it must be remembered that, unlike animal nutrition chemicals market principles that consider both financial expense and customer time, the animal nutrition chemicals market only considers financial expense. Exchange rate fluctuations can have an impact on a company's profitability. animal nutrition chemicals market should research exchange rate variations to develop precise predictions in order to minimise unfavorable trade and business performance effects. A high interest rate means that the animal nutrition chemicals market will have to make payments at a high rate of interest, increasing the overall cost of the loans taken.
Social Factors- Due to some areas' lack of consumer commitment brought on by the use of dishonest and illegal activities, such as tax fraud linked with car washes and similar business models, a case study service may not be in demand in some countries. For this specific aspect, the animal nutrition chemicals market is fragmented and made up of numerous small vendors. Respect for hierarchy and social class stratification are two significant social elements that may have an impact on animal nutrition chemicals market, marketing, and human resource management initiatives. When entering nations with high power distance, the animal nutrition chemicals market prefers a hierarchical organisation and formal work culture. The requirement for effective market segmentation techniques is also indicated by increased social stratification, as animal nutrition chemicals market cannot target several categories from various social classes using the same marketing mix.
Technological Factors- The technology being used for case solution services right now focuses on creative ways to lessen water waste during autos and trucks. In addition, using automatic water sprays has been a benefit that expert case solution services have over manual case solutiones. animal nutrition chemicals market need to favour investing in nations with advanced technical infrastructure since these environments make it simpler for businesses to pursue goals like cost cutting, innovation, and value creation. A strong technological foundation also shows that it will be more difficult for animal nutrition chemicals market to use technology to gain a sustained competitive advantage because it might be easily copied by rivals.
Environmental Factors- Scientists and environmentalists have long expressed alarm about the hazardous compounds included in automobile and truck soaps, which pose a threat to aquatic life. These pressure organizations have also expressed concern about the water waste involved with professional car washes and hand washing at home. The adoption of the closed-loop, circular economy approach is becoming the standard in various regions and industries in some nations. Industries with enabling institutional frameworks can facilitate material recycling and reuse. Similar to this, customers actively participate in recycling in several nations. animal nutrition chemicals market may take advantage of these sustainability trends and use them as a tool to not only achieve economic goals through lower manufacturing costs but also minimise environmental expenses.
Legal Factors- Legal considerations offer more particular information about various rules and regulations, primarily concerning employment laws, health and safety laws, intellectual property laws, and consumer protection laws, in contrast to political considerations, which offer a broader perspective. If animal nutrition chemicals market disregards the regulations of the host countries, it risked costly legal action. Legal considerations offer more particular information about various rules and regulations, primarily concerning employment laws, health and safety laws, intellectual property laws, and consumer protection laws, in contrast to political considerations, which offer a broader perspective. If the animal nutrition chemicals market disregards the regulations of the host countries, it risked costly legal action.
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