PUBLISHER: The Business Research Company | PRODUCT CODE: 1518316
PUBLISHER: The Business Research Company | PRODUCT CODE: 1518316
Feed and animal nutrition involves managing the diet of domesticated animals to ensure their health, growth, and productivity. This requires understanding and optimizing the nutrient content and balance in their feed to meet specific needs, considering factors such as species, age, weight, and activity level.
The main types of products in feed and animal nutrition include amino acids, vitamins, minerals, enzymes, fish oils and nutritional lipids, eubiotics, carotenoids, and others. Amino acids are essential nutrients and building blocks of protein, crucial for the growth and health of animals. They are administered orally, topically, and through injections to various species, including poultry, swine, ruminants, pets, and others, for use by veterinarians, animal feed manufacturers, households, farms, and other applications.
The feed and animal nutrition research report is one of a series of new reports from The Business Research Company that provides feed and animal nutrition market statistics, including the feed and animal nutrition industry's global market size, regional shares, competitors with a feed and animal nutrition market share, detailed feed and animal nutrition market segments, market trends and opportunities, and any further data you may need to thrive in the feed and animal nutrition industry. This feed and animal nutrition market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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 several factors, including an increase in livestock farming, the growth of meat and dairy consumption, rising incomes, particularly in developing countries, increased migration to urban areas, favorable subsidies, supportive policies for the agricultural sector, and the global population growth.
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 increased consumer awareness about animal health and food safety, a heightened focus on sustainable and eco-friendly farming practices, the expanding aquaculture industry, rising pet ownership and the humanization of pets, and enhanced regulatory frameworks promoting animal welfare and food safety standards. Major trends in this period include the use of advanced data analytics and AI to create tailored feed formulations, the adoption of alternative and sustainable feed ingredients, the development of feeds with added health benefits such as probiotics, prebiotics, and immune-boosting ingredients, the integration of automation and Internet of Things (IoT) technologies in feed production and distribution, and the application of genetic research to improve feed conversion ratios.
The increased consumption of meat, dairy, and poultry products is anticipated to drive the growth of the feed and animal nutrition market in the coming years. These products, which include beef, pork, chicken, eggs, milk, and cheese, are seeing higher demand due to the rising global population, changing dietary habits, and the growing need for protein-rich foods. The development of feed and animal nutrition solutions enhances the quality and productivity of these products, supporting sustainable farming practices, animal welfare, and overall food safety standards. For instance, in June 2023, a report by the Food and Agriculture Organization of the United Nations (FAO) projected global meat production to increase from 356.9 million metric tons in 2021 to 363.9 million metric tons in 2023, a 1.96% rise. Specifically, global bovine meat production is expected to grow from 74.9 million metric tons in 2021 to 76.1 million metric tons in 2023, while global poultry meat output is forecast to increase from 138.2 million metric tons in 2021 to 142.7 million metric tons in 2023. Additionally, global ovine meat output is predicted to reach 16.8 million metric tons in 2023, reflecting a 1% year-on-year increase. Consequently, the increased consumption of meat, dairy, and poultry products is driving the feed and animal nutrition market forward.
Major companies in the feed and animal nutrition markets are focusing on developing innovative products, such as in-feed sweetening solutions designed to improve feed palatability and encourage feed intake during critical growth stages. These additives enhance the taste of animal feed, encouraging consumption. For instance, in November 2022, The Archer-Daniels-Midland Company (ADM), a US-based food processing company, launched its SUCRAM range, an in-feed sweetening solution for livestock. The range includes two products, SUCRAM M'I Sweet and SUCRAM Specifeek, which are designed to improve feed palatability for young animals, particularly weanling pigs. These sweeteners, which are saccharin-free, have been tested in an in-vitro swine sweet taste receptor model and aim to enhance feed intake during the transition from liquid to solid feed. The products are also intended to optimize nutrient absorption, support gut health, and promote growth and performance in pigs during this stressful period.
In December 2023, The Archer-Daniels-Midland Company (ADM) acquired PT Trouw Nutrition Indonesia for an undisclosed amount. This acquisition is expected to enhance ADM's capabilities and position in the animal nutrition industry, particularly in the Asia-Pacific region. PT Trouw Nutrition Indonesia, a subsidiary of Nutreco, provides functional and nutritional solutions for livestock farming.
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
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.
The countries covered in the feed and animal nutrition market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The feed and animal nutrition market consists of sales of feed additives, premixes, and supplements designed to improve animal health and productivity. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Feed And Animal Nutrition Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on feed and animal nutrition market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for feed and animal nutrition ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The feed and animal nutrition market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.