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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