The global animal nutrition market growth is expected to progress at a CAGR of 6.10% during the forecast period, 2021-2028. Livestock industrialization, the increased consumption of animal-based products due to the rising disposable income, and the growing nutritional requirements of existing livestock drive market growth.
Animal nutrition includes dietary supplements with health benefits. They are used to enhance the immune system of animals, promote animal nutrition, and improve pet healthcare. The risk of poultry-based infections has led to increased demand for meat derived from healthy sources. Also, due to livestock industrialization, there is an increasing demand for livestock. As a result, milk, meat, eggs, etc., are in huge demand. In addition, industrialized systems have resulted in considerable improvements in agricultural productivity. This will lead to greater output of dairy and meat products.
Furthermore, they have enabled the development, application, and dissemination of research leading to consistent improvements in animal feed formulations, breeding, biosecurity, and genetics. Moreover, according to an article, industrialized livestock operations are gaining fast prevalence in developing and developed countries. Additionally, fast-food chains and the meat industry have been increasingly focusing on livestock health to ensure high-quality products. For this, animal farmers and breeders have been using nutrition chemicals to increase milk output, high-quality meat, and improve fertility.
The global animal nutrition market growth evaluation includes the analysis of North America, Europe, Asia-Pacific, and Rest of World. The increasing consumption of poultry and pork as protein sources is a signtifact driver of Asia-Pacific’s fast-paced growth.
The market players are investing majorly in R&D to improve their product portfolio and gain market share. Some of the top market players include Balchem Corporation, Church & Dwight Co Inc, Alltech Inc, Cargill Incorporated, BASF, etc.
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