The animal nutrition market includes products such as amino acids, vitamins, minerals, enzymes, and other feed additives that provide balanced nutrition to livestock and help improve their productivity and health. An ideal animal nutrition program supplies the required macro and micro nutrients to support key bodily functions and optimum growth performance. It helps improve feed efficiency and digestibility while also enhancing meat and milk production qualities.

The global animal nutrition market is estimated to be valued at US$ 48,100 million in 2024 and is expected to exhibit a CAGR of 5.0% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

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Market key trends:

One of the key trends in the animal nutrition market is the rising popularity of natural growth promoters. Consumers are increasingly preferring meat and dairy products from animals that are raised without the use of antibiotics. This is propelling feed manufacturers to invest in developing natural growth promoter alternatives such as prebiotics, probiotics, phytochemicals, and essential oils. These natural feed additives help optimize the gut health of livestock and enhance their nutrient absorption abilities. They stimulate appetite and digestion while also strengthening the immune system. The market is witnessing the launch of several innovative products with natural ingredients that can partially or completely replace conventional growth promoters and antibiotics in animal feed. This shift towards natural and antibiotic-free animal husbandry is expected to define the future of the industry.

Porter’s Analysis

Threat of new entrants: The animal nutrition market requires high R&D investments and risks associated with developing new products. Strict regulations also pose a challenge for new entrants.
Bargaining power of buyers: Large buyers like livestock farms have significant bargaining power over suppliers due to their bulk purchasing ability. They can negotiate lower prices and demand better product quality.
Bargaining power of suppliers: The market has numerous raw material suppliers globally with no single major supplier dominating the market. This limits their bargaining power over buyers.
Threat of new substitutes: There are limited alternatives to animal nutrition products available. Nutritional supplements made from alternative natural ingredients pose low threat currently.
Competitive rivalry: The market has numerous global and regional players. Intense competition keeps prices low and forces competitors to invest in new technologies and product differentiation to gain market share.

Key Takeaways

The global animal nutrition market is expected to witness high growth over the forecast period.
Regional analysis: North America is forecast to be the fastest growing regional market for animal nutrition during the forecast period due to rising awareness about healthy pet foods and growth in farming activities. Countries like the U.S. and Canada are major consumers in this region.

Key players: Key players operating in the animal nutrition market are Archer-Daniels-Midland Company, Adisseo France SAS, Alltech, BASF SE, Cargill Inc., Dow Chemical Company, DuPont, Evonik Industries AG, Tata Chemicals, Novozymes A/S, Royal DSM N.V., Kemin Industries, Inc., and Nutreco N.V. ADM and Cargill dominate the global market.