Animal Nutrition Market Size, Share, Growth Analysis, By Product Type (Amino Acids, Carotenoids), By Species (Poultry, Ruminant), By Application, By Region - Industry Forecast 2024-2031

Global Animal Nutrition Market size was valued at USD 22.8 billion in 2022 and is poised to grow from USD 24.26 billion in 2023 to USD 39.92 billion by 2031, growing at a CAGR of 6.42% during the forecast period (2024-2031).

The animal nutrition market is experiencing significant growth, driven by increasing demand for meat and dairy products, as livestock breeders strive to enhance productivity amid rising costs. Farmers are challenged with maximizing livestock output while minimizing expenses, making feed additives an ideal solution for improving feed digestion and conversion ratios. The rise in commercial livestock production is a primary factor propelling this market, along with heightened consumer health awareness that emphasizes the nutritional benefits of animal-based products. Additionally, the growing recognition of the health advantages offered by feed additives derived from algae has intensified market expansion. Microalgae play a critical role in supplementing feed with essential nutrients during the early development stages of livestock, promoting optimal physical growth and ensuring the production of high-quality meat, milk, and eggs. As consumers increasingly seek nutritious animal products, the demand for innovative animal nutrition solutions continues to rise, positioning the market for robust growth opportunities in the foreseeable future. Thus, the integration of advanced animal feed additives not only addresses the nutritional needs of livestock but also aligns with the evolving preferences of health-conscious consumers, further shaping the trajectory of the animal nutrition industry.

Top-down and bottom-up approaches were used to estimate and validate the size of the Global Animal Nutrition market and to estimate the size of various other dependent submarkets. The research methodology used to estimate the market size includes the following details: The key players in the market were identified through secondary research, and their market shares in the respective regions were determined through primary and secondary research. This entire procedure includes the study of the annual and financial reports of the top market players and extensive interviews for key insights from industry leaders such as CEOs, VPs, directors, and marketing executives. All percentage shares split, and breakdowns were determined using secondary sources and verified through Primary sources. All possible parameters that affect the markets covered in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data.

Global Animal Nutrition Market Segmental Analysis

Global Animal Nutrition Market is segmented by Product Type, Species, Application, and region. Based on Product Type, the market is segmented into Amino Acids, Carotenoids, Enzymes, Eubiotics, Minerals, Lipids, Vitamins, and Other Pet Food. Based on Species, the market is segmented into Poultry, Ruminant, Aquaculture, Swine, and Others. Based on Application, the market is segmented into Veterinarians, Animal Feed Manufacturers, Households, Farms, and Other. Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.

Driver of the Global Animal Nutrition Market

The global animal nutrition market is significantly driven by the rising demand for livestock production, primarily fueled by the increasing consumption of meat as a primary protein source available at affordable prices. As projected by the FAO, global consumption of animal proteins is expected to rise by 14% by 2030, largely due to population growth and higher income levels. The shift in dietary preferences towards poultry, especially in developing nations where chicken is more cost-effective, further supports this trend. Meanwhile, affluent regions are notably gravitating toward white meats, which are perceived as healthier and easier to prepare. These dynamics, coupled with surging demand for products like milk, eggs, and meat, indicate a robust need for animal nutrition that enhances the quality and quantity of livestock production in the years ahead.

Restraints in the Global Animal Nutrition Market

The growth of the global animal nutrition market faces significant challenges primarily due to surging raw material costs and stringent regulatory frameworks in developed nations. These increasing prices for essential components, such as feed acids, antioxidants, and vitamins sourced from natural materials like seeds, tree bark, and plant leaves, are constraining the profitability for manufacturers. The high expenses associated with extracting these ingredients, coupled with the strict regulations concerning waste management and wastewater treatment, further impede market expansion. As a result, these factors collectively pose substantial restraints on the overall development of the animal nutrition industry worldwide.

Market Trends of the Global Animal Nutrition Market

The Global Animal Nutrition market is experiencing a significant upward trend fueled by the growing popularity of high-protein diets, which is increasing the demand for animal protein across various sectors. This escalating demand is also amplifying the importance of amino acids in animal feed formulations, as they play a crucial role in enhancing growth, feed efficiency, and overall animal health. As producers prioritize sustainable and efficient animal husbandry practices, the integration of amino acids into feed is becoming essential. Consequently, the anticipated rise in animal protein production is poised to catalyze substantial growth within the animal nutrition market, aligning with modern dietary preferences and sustainability goals.