Growing awareness towards optimum nutrient requirements as well as animal feed quality for domesticated animals is expected to drive acid & nutrient in animal nutrition market demand. Growing animal feed use is anticipated to have a positive impact on the market growth over the forecast period. Increasing commercialization in milk & meat industries is influencing animal feed manufacturers to maintain optimum nutrient and acid levels in products. This is expected to ensure health benefits to livestock and prevent them from endemic diseases. Increasing importance regarding the provision of acids & nutrients in animal nutrition to farm owners and feed manufacturers for healthy livestock growth is anticipated to fuel the market growth.
On the basis of product type, the market may be segmented into amino acids & proteins, minerals (macro & trace), vitamins, organic acids, and fibers & carbohydrates. Other nutrients considered in the study include antioxidants and phytochemicals. Amino acids have been increasingly used in animal feed additives owing to high performance characteristics. Asia Pacific and South America are anticipated to consume the majority of amino acids traded globally as animal feed additives owing to low cost and abundant availability in these regions. On the basis of livestock, acid & nutrient in the animal nutrition market may be segmented into ruminant, poultry, swine, equine, and aqua. Presently, animal feed for ruminant species dominate the demand for acid & nutrient in animal nutrition and is anticipated to continue its dominance over the next six years. Growing animal feed demand for cattle coupled with high volume requirements have been the major factors responsible for higher demand. Acid and nutrient in animal nutrition market demand are anticipated to witness above average growth rates for both aquatic and equine livestock over the forecast period. Technological advancements in aqua culture for maintaining the health and nutrition of aquatic animals owing to increasing human consumption of fishes and marine organisms is expected to have a positive impact on the market demand over the next few years.
Asia Pacific acid & nutrient in animal nutrition market is estimated to witness high growth rates over the forecast period. Expanding population and increasing consumption of milk, meat & meat products is expected to fuel demand for acid & nutrient in animal nutrition. North America and Europe are relatively mature markets and are expected to have stagnant demand over the forecast period. Major companies operating in this market include Adisseo France S.A.S., BASF SE, Evonik Industries Ag, Cargill Inc., Archer Daniels Midland Company, Charoen Pokphand Foods Pcl., Royal DSM N.V., Nutreco N.V., Alltech and Novus International Inc.
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Restrictions on manufacturing activities due to the advent of the COVID-19 pandemic shall cause a slump in the supply of feed, as well as its additives. The current stagnation in supply is, in turn, detrimental against the backdrop of ever-increasing demand for essential food products such as dairy and meat. The report will account for Covid19 as a key market contributor.
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