The feed and animal nutrition global market report 2024from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Feed And Animal Nutrition Market, 2024report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size – The feed and animal nutrition market size has grown strongly in recent years. It will grow from $499.76 billion in 2023 to $533.73 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to a rise in livestock farming, growth of meat and dairy consumption, rise in incomes especially in developing countries, increased migration to urban areas, favorable subsidies, and supportive policies for the agricultural sector, and global population.
The feed and animal nutrition market size is expected to see strong growth in the next few years. It will grow to $698.61 billion in 2028 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to growing consumer awareness about animal health and food safety, increased focus on sustainable and eco-friendly farming practices, growing aquaculture industry, rising pet ownership and the humanization of pets, and enhanced regulatory frameworks promoting animal welfare and food safety standards. Major trends in the forecast period include the use of advanced data analytics and AI to create tailored feed formulations, the use of alternative and sustainable feed ingredients, the development of feeds with added health benefits, such as probiotics, prebiotics, and immune-boosting ingredients, integration of automation and Internet of Things (IoT) technologies in feed production and distribution, and application of genetic research to improve feed conversion ratios.
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Scope Of Feed And Animal Nutrition MarketThe Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Feed And Animal Nutrition Market Overview
Market Drivers -The increased consumption of meat, dairy, and poultry products is expected to propel the growth of the feed and animal nutrition market going forward. Meat, dairy, and poultry products refer to animal-derived food items, including beef, pork, chicken, eggs, milk, and cheese. The increasing consumption of meat, dairy, and poultry products can be attributed to the rising global population, changing dietary habits, and growing demand for protein-rich foods. The development of feed and animal nutrition solutions enhances the quality and productivity of meat, dairy, and poultry products, which contributes to sustainable farming practices, animal welfare, and overall food safety standards. For instance, in June 2023, according to a report published by the Food and Agriculture Organization of the United Nations (FAO), a US-based agency that specializes in promoting food security, sustainable agriculture, and rural development, global meat production is projected to rise from 356.9 million metric tons in 2021 to 363.9 million metric tons in 2023, reflecting a 1.96% increase. Specifically, global bovine meat production is expected to increase from 74.9 million metric tons in 2021 to 76.1 million metric tons in 2023. Additionally, global poultry meat output is forecast to reach 138.2 million metric tons in 2021 to 142.7 million metric tons in 2023. Similarly, global ovine meat output is forecast to be 16.8 million metric tons in 2023, reflecting a 1% year-on-year increase. Therefore, increased consumption of meat, dairy, and poultry products is driving the feed and animal nutrition market.
Market Trends – Major companies operating in the feed and animal nutrition markets are focused on developing innovative products, such as in-feed sweetening solutions designed to improve feed palatability and encourage feed intake during critical growth stages. In-feed sweetening solutions are additives used in animal feed to enhance its palatability and encourage consumption. These solutions often contain natural or artificial sweeteners to improve the taste of feed for livestock and pets. For instance, in November 2022, The Archer-Daniels-Midland Company (ADM), a US-based food processing and company, launched its SUCRAM range, an in-feed sweetening solution for livestock species. The range has two products such as SUCRAM M’I Sweet and SUCRAM Specifeek. These products are in-feed sweetening solutions specifically designed to improve the palatability of feed for young animals, particularly weanling pigs. These sweeteners aim to enhance feed intake and efficiency for producers while supporting animal health and well-being. These saccharin-free sweeteners have been tested in an in-vitro swine sweet taste receptor model and are intended to encourage feed intake during the transition from liquid to solid feed. The products may also optimize nutrient absorption, support gut health, and promote growth and performance in pigs during this stressful period.
The feed and animal nutrition market covered in this report is segmented –
1) By Product Type: Amino Acids, Vitamins, Minerals, Enzymes, Fish Oils And Nutrition Lipids, Eubiotics, Carotenoids, Other Product Types
2) By Species: Poultry, Swine, Ruminants, Pets, Other Species
3) By Administrative Method: Oral, Topical, Injection
4) By Application: Veterinarians, Animal Feed Manufacturers, Households, Farms, Other Applications
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Regional Insights – Asia-Pacific was the largest region in the feed and animal nutrition market in 2023. The regions covered in the feed and animal nutrition market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Key Companies – Major companies operating in the feed and animal nutrition market are Cargill Incorporated, Archer Daniels Midland Company, BASF SE, Tyson Foods Inc., Evonik Industries AG, Charoen Pokphand Foods Public Company Limited, Land O’Lakes Inc., Koninklijke DSM N.V., De Heus Animal Nutrition B.V., Nutreco N.V., Elanco Animal Health Incorporated, Wilbur-Ellis Company LLC, Alltech Inc., Royal Agrifirm Group B.V., ForFarmers N.V., Trouw Nutrition USA LLC, Kemin Industries Inc., Lallemand Inc., Phibro Animal Health Corporation, Balchem Corporation, Ridley Corporation Limited, Kent Nutrition Group Inc., Novus International Inc., Manna Pro Products LLC, Zinpro Corporation, Diamond V Mills Inc., Vita Plus Corporation, BIOMIN Holding GmbH, Hi-Pro Feeds LP
Table of Contents 1. Executive Summary2. Feed And Animal Nutrition Market Report Structure3. Feed And Animal Nutrition Market Trends And Strategies4. Feed And Animal Nutrition Market – Macro Economic Scenario5. Feed And Animal Nutrition Market Size And Growth…..27. Feed And Animal Nutrition Market Competitor Landscape And Company Profiles28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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