The global animal nutrition chemicals market is expected to witness significant growth over the next seven years owing to increasing safe and healthy pet food demand especially in North America and Europe. Rising consumer awareness regarding proper pet nutrition is anticipated to enable consumers to pay premium amounts for healthy and nutritious pet food over the forecast period. Meat consumption has increased over the past few years on account of rising population particularly in the emerging economies of BRICS and South East Asia. Rapid meat and poultry market developments coupled with growing competition has stimulated the urgency for improving and maintaining product quality amongst the key market players. Growing urbanization and increasing meat exports are anticipated to positively influence product demand over the foreseeable future. Economic developments along with increasing disposable income have facilitated special consumer attention regarding pet care and nutrition. These aforementioned factors are presumed to drive the animal nutrition chemicals market over the next seven years. Increasing raw material costs are projected to hinder industry growth. Product development by adopting bio-friendly means with the usage of naturally derived feedstock is expected to provide colossal opportunities to industry participants over the forecast period especially in the environment conscious regions such as Europe and North America.
On the basis of products, the overall market has been segmented into enzymes, minerals, vitamins, and amino acids. Other products include vacuum salts, organic food, and carotenoids. Amino acids were the largest product segment in 2014 and the trend is expected to continue over the forecast period owing to high quality protein content in them. These proteins are considered to be the most important and essential nutrients in the products. Vitamins are anticipated to observe considerable industry progress over the foreseeable future owing to their active role in improving animal health, growth, and reproduction. On the basis of product applications, these chemicals are classified as veterinarians, households, farms, and animal food manufacturers. Other application segments include aquaculture and domestic animal feed. Animal food manufacturers are presumed to be the largest application segment over the forecast period owing to increasing meat demand coupled with growing consumption globally. Additionally, rapid meat industry advancement along with increasing consumer awareness regarding healthy, safe, and nutritious pet food is projected to bolster industry growth. Household application segment is anticipated to observe above average progress on account of increasing pet food awareness amongst consumers especially in the developed economies of EU along with North American countries such as the U.S. and Canada.
North America was the leading regional consumer in 2014 and is expected to witness significant development over the forecast period owing to increasing pet population in the region. The U.S. is presumed to be the frontrunner on account of growing nutritional product demand in the region. Europe is projected to observe considerable growth with countries such as France, Switzerland, Germany, and UK leading the consumer markets over the foreseeable future. Bio-based products derived from natural feedstock are expected to witness great demand surge in this region owing to increasing consumer awareness regarding environment friendliness. Asia Pacific animal nutrition chemicals market is expected to observe significant market growth on account of increasing meat consumption coupled with improving living standards in the region. Countries such as China, Japan, Malaysia, and India are anticipated to be the frontrunners in the market over the forecast period.
Key players operating in the global animal nutrition chemicals market include BASF SE, Dow Chemical Company, Balchem Corporation, and DuPont. Other players in the industry include Kemin Industries, Novozymes, Tata Chemicals, and Royal DSM. M&A and JV’S aimed at increasing the market share are expected to be key strategies followed by key players over the foreseeable future. Development of effective distribution channels is presumed to be another strategy followed by industry participants. Introduction of bio-based products derived from natural feedstock along with effective marketing strategies is expected to be followed to increase their market presence over the next seven years.
NEED A CUSTOM REPORT?
We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.
Contact us now to get our best pricing.
We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure.
"The quality of research they have done for us has been excellent."
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.