The global animal nutrition chemicals market size was valued at $10,289 million in 2017, and is projected to reach $15,335 million by 2024, registering a CAGR of 5.9% during the forecast period. Animal nutrition chemicals are essential feed additive products to boost the growth of animal and to maintain their health. These are widely used in feed industry to improve the quality of product and improve the results.
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Increase in domesticated animals and livestock population drive the growth of the animal nutrition chemical market. Moreover, rise in pet health care centers and veterinaries fuel the market growth. Further, rapid industrialization of livestock farming, increase in health problems among animals, and rise in meat demand are some of the major factors that also boost the growth of the animal nutrition chemicals industry. However, high cost of these products restrain the market growth. Similarly, availability of substandard products and cheap alternatives adversely affect the market. Further, faster growth of animal meat and higher demand for meat across the world is anticipated to provide high return on investment. This factor leads to increase in number of animal farmers and modern animal husbandries, which is anticipated to provide growth opportunities.
The report segments the market based on product type, species, application, and region. Based on product type, the market is divided into amino acid, vitamin, mineral, enzyme, fish oil and lipid, carotenoid, eubiotics and others. By species, it is classified into poultry, swine, ruminants, pets and others. In terms of application, it is divided into animal feed manufacturers, farms, households, veterinarians and others. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.
- This report provides an extensive analysis of the current trends and emerging estimations in the global animal nutrition chemicals market.
- In-depth analysis of the industry is conducted through market estimations of key segments from 2017 to 2024.
- Comprehensive analysis of factors that drive and restrain the growth of the market is provided in the report.
- Extensive analysis of the industry is conducted by following key product positioning and monitoring the top competitors within the market framework.
- The key players are profiled along with their strategies to determine the competitive outlook of the market.
Animal Nutrition Chemicals Market Key Segmentation:
- Amino Acid
- Fish Oil & Lipid
- Others (Organic Food, and Vacuum Salts)
- Others (Aquaculture and Euqines)
- Animal Food Manufacturer
- Others (Domestic Animal Feed and Aquaculture)