IMARC Group has recently released a new research study “Animal Nutrition Chemicals Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends, and competitive landscape to understand the current and future market scenarios.
What Are The Growth Prospects Of The Animal Nutrition Chemicals Industry?
The global animal nutrition chemicals market size reached US$ 10.21 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 14.5 Billion by 2027, exhibiting a growth rate (CAGR) of 5.70% during 2022-2027.
What Is A Animal Nutrition Chemicals?
Animal nutrition chemicals refer to feed additive products or supplements that promote the growth of animals and maintain their health. They include feeding attractants, immunostimulants, prebiotics, probiotics, acidifiers, essential oils, etc. These chemicals help in improving animal immunity, fertility, pregnancy outcome, newborn survival and growth, meat quality, feed efficiency, etc. In addition to this, they also promote the ingestion, absorption, and assimilation of nutrients. Animal nutrition chemicals enhance physiological processes, such as stress resistance and reproduction. Consequently, they are extensively used in the feed industry to improve the efficacy of the final product.
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What Are The Key Factors Driving The Global Animal Nutrition Chemicals Market?
The increasing number of domesticated animals, on account of the inflating urbanization levels, is propelling the need for their health insurance, which is among the key factors driving the animal nutrition chemicals market. Moreover, the expanding pet healthcare centers and veterinaries and the growing prevalence of malnutrition among livestock are acting as significant growth-inducing factors. Besides this, the rising expenditure capacities of individuals are enabling them to spend on healthy and nutritious feed additives, thereby positively influencing the global market.
Furthermore, the elevating consumer awareness towards proper pet nutrition and extensive investments in R&D activities are stimulating the market growth. Apart from this, the widespread adoption of red and white meat and the escalating demand for protein-rich diets are also bolstering the global market. Additionally, leading manufacturers are focusing on product development by using environment-friendly methods and naturally derived feedstock, which is anticipated to fuel the animal nutrition chemicals market over the forecasted period.
For the Competitor Segment, The Report includes Global key Players of the Animal Nutrition Chemicals Market.
Aumgene Biosciences Pvt. Ltd., Balchem Corporation, BASF SE, Cargill Incorporated, Evonik Industries AG (RAG-Stiftung), Kemin Industries Inc., Koninklijke DSM NV, Novozymes A/S A and Tata Chemicals Limited.
Key Market Segmentation:
Breakup by Product Type:
Amino AcidVitaminMineralEnzymeFish Oil and LipidCarotenoidEubioticsOthersBreakup by Species:
PoultrySwineRuminantPetOthersBreakup by Application:
Animal Food ManufacturerFarmHouseholdVeterinarianOthersRegional Insights:
Asia PacificNorth AmericaEuropeMiddle East and AfricaLatin AmericaOn the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.
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