Market Overview:
Animal nutrition refers to the nutritional necessities of
food-production, companion, or service animals. It is the kind of making
or design of feed for animals that make food such as milk or meat or nonfood substances.
Nutrients are materials in feed that are utilized by the animal for growth and
manufacture.
Competitive
Landscape:
Key players involved in the global
animal nutrition market are Tata Chemicals, Archer-Daniels-Midland Company, Dow
Chemical Company,Evonik Industries AG, Adisseo France SAS, Royal DSM N.V.,
Kemin Industries, Inc., Alltech, BASF
SE, Cargill Inc., DuPont, Novozymes A/S, and Nutreco N.V.
Market
Key Drivers:
The rising cases of zoonotic
diseases is expected to propel the growth of global animal nutrition market. For
instances, as per WHO, around one billion cases of illness and one million
cases of fatalities occur due to zoonoses annually.
Increasing demand for safe
and nutritious food for animals is anticipated to drive the growth of global
animal nutrition market. For instance, as per FAO, necessity for animal
derived-protein would double by 2050.
Covid-19
Impact Analysis:
The Covid-19 outbreak has adversely affected
the growth of global animal
nutrition market owing to the strict lockdown and restrictions imposed by
the government. The closure of manufacturing units and the disruption in the
supply chain acted as a limitation in the market growth.
Key Takeaways:
The global animal nutrition market is
anticipated to exhibit a CAGR of XX % during the forecast period owing to change
in requirements of nutrients by the animals. For
instance, older animals might have health issues related to aging, which needs
varied nutritional requirement such as mineral and vitamin additions.
Among regions, North America, Europe and Asia
Pacific are expected to witness robust growth in the global animal nutrition
market due to product expansions, approvals and launches. For instance, in July 2022, the Nutrition & Health Division of
BASF was expanding its place as an ingredients collaborator for animal
nutrition and human nutrition companies.
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