The non-protein nitrogen in feed market is set to witness substantial growth by 2027 owing to proliferating global demand for high quality and nutritious dairy products and meat.
Non-protein nitrogen is commonly used as an alternative to vegetable protein as it is easy to procure and offers a variety of health benefits to livestock animals, especially ruminants. Microorganisms present in sheep and rumens possess the ability to convert non-protein nitrogen sources into real protein that can be transformed into meat and milk by animals, thereby contributing to the global food supply. As a result, the nutritional significance of non-protein nitrogen in animal feed and mounting demand for animal products worldwide have augmented market expansion.
Notably, leading global enterprises are adopting a variety of strategic measures in order to strengthen their market positions, which has benefitted the global business landscape. For instance, in June 2021, Yara Growth Ventures, a novel venture investing division of Yara International ASA, invested a sum of USD 4 million in Boomitra, a startup dedicated towards removing atmospheric carbon using agricultural soil. The seed money was intended to aid Boomitra in analyzing soil samples from around the world and devise solutions supported by AI to enhance agricultural productivity.
To cite another instance, in July 2021, ADM, a human and animal nutrition leader, announced the acquisition of Sojaprotein, a major agribusiness firm, to increase manufacturing capacity and capabilities in order to meet the rapidly increasing worldwide demand for plant-based proteins. The addition of Sojaprotein to ADM's investment portfolio is expected to bolster ADM's business value and help in its expansion.
Similarly, in July 2021, chemicals giant Borealis strengthened its partnership with circular economy expert Renasci N.V. by acquiring a 10% stake. The deal was purposed to support Borealis' integrated approach for realizing a true circular economy of plastics in an environmentally efficient manner. Thus, positive developments in the industry have propelled business growth in key marketplaces.
The non-protein nitrogen in feed market has been divided based on product, livestock, form, and region. With respect to product, the market has been further bifurcated into ammonia, urea, and others. The non-protein nitrogen in feed market from the others product segment is projected to grow at a healthy pace to surpass 65 kilotons by 2027.
In terms of livestock, the market has been segmented into poultry, swine, ruminant, and others. The others livestock segment is slated to expand at a CAGR of about 1.5% through the forecast period.
From the regional point of view, the Latin America non-protein nitrogen in feed market holds a sizeable share of over 12.0% in the overall industry revenue and is estimated to register considerable growth through 2027.
The Middle East & Africa non-protein nitrogen in feed market is anticipated to observe notable growth, progressing at a CAGR of approximately 2.5% through the assessment timeline. Rising consumption of meat and dairy products in MEA is likely to foster product demand in the region over the forecast period.