According to a recent study by Future Market Insights (FMI), the global nutritional ingredients in animal feed market is experiencing significant growth, driven by the increasing per capita consumption of meat products in developing regions and the expansion of the livestock industry. Projections indicate that the market will reach a valuation of USD 93.2 billion by 2022, with a compound annual growth rate (CAGR) of 7.1% expected from 2022 to 2032.
The demand for enhanced animal productivity is fueling the growth of the nutritional components industry in animal feed. As animals play a vital role in the food chain, ensuring their health and well-being through balanced diets is paramount. The global food industry is poised to be a key driver of market expansion. However, challenges such as lack of awareness and the high cost of feed may prompt farmers to seek cheaper alternatives, posing potential hurdles to market growth. Nonetheless, with ongoing research and development efforts, product innovations hold the potential to unlock significant opportunities in the market.
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Key Research Findings of FMI’s Nutritional Ingredients in Animal Feeds Market Study
- Soybean meal in animal feeds will continue to account for a majority of the market revenue.
- Key players are expected to invest in the development of new microbial strains to bolster immune function in animals and attain an edge on the competition.
- North America continues to lead the global market, owing to a major livestock industry.
- Europe and Latin America will display steady growth with rising demand for animal products.
Key Growth Drivers – Nutritional Ingredients in Animal Feeds Market
- Expansion of the livestock feed industry and aquaculture in developing countries is driving the growth of nutritional ingredients in the animal feeds market.
- Rising per capita meat consumption figures is a key factor shaping popularity of nutritional ingredients in animal feeds market.
- Restrictions on the use of antibiotics and growing awareness about animal health among pet owners broadens their scope of adoption.
Key Impediments – Nutritional ingredients in animal feeds Market
- High costs related to the production and sale of animal feeds in different countries continues to be a major restraint for the growth of the nutritional ingredients in animal feeds market.
- Lack of awareness among a large number of potential end users will remain a key impediment facing manufacturers of nutritional ingredients in animal feeds.
Competition Structure Analysis – Nutritional Ingredients in Animal Feeds Market
Competition landscape of the global nutritional ingredients in animal feeds market will primarily remain influenced by investments in vertical integration of businesses to fend off competition. Chinese companies in particular have been displaying high levels of competitiveness. Smaller companies and venture capitalists will be seen as one stop solutions for consumers to gain an edge over the competition. The development of novel microbial strains and a widening product portfolio marks a significant trend that would shape up the competition in the near future.
Some of the key participants in global nutritional ingredients in animal feeds market that are profiled in this Future Market Insights’ report, which include but are not limited to, Altech Corp., BASF SE, Barentz, and Ingredion Inc.
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Nutritional Ingredients in Animal Feed Market by Category
By Source, Nutritional Ingredients in Animal Feed Market is segmented as:
- Corn
- Wheat
- Soyabean Meal
- Fish
- Oats
- Alfalfa
- Others
By Nutrition Type, Nutritional Ingredients in Animal Feed Market is segmented as:
- protein
- vitamins
- Amino Acid
- Enzymes
- Acidifiers
- Antibiotics
- Antioxidants
By Animal Type, Nutritional Ingredients in Animal Feed Market is segmented as:
- Poultry
- Chicken
- Turkey
- Ducks
- Others
- Cattles
- Cow
- Sheep
- Hoarse
- Goat
- Pig
- Others
- Fish
- Others
By Region, Nutritional Ingredients in Animal Feed Market is segmented as:
- North America
- Latin America
- Europe
- East Asia
- South Asia
- Oceania
- The Middle East and Africa
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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