According to the research report titled ‘Global Animal Nutrition Market 2019-2028’, available with Market Study Report, global animal nutrition market is touted to register a CAGR of 5.18% over the forecast period 2019-2028.
 

As cited in the report, surging product demand caused by increasing industrialization of livestock is the primary factor driving global animal nutrition market growth. Furthermore, rising levels of disposable income, demand for high quality meat products, and increasing preference for superior quality pet nutrition are offering new opportunities for industry expansion.
 

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Elaborating on market restraints, limited product penetration, high costs, and increasing availability of low-priced counterfeit goods are expected to impede the market growth trajectory in the upcoming years. In addition, increasing environmental degradation also poses a threat to industry progression.
 

Based on product type, global animal nutrition market is classified into amino acids, minerals, vitamins, fish oils & nutrition lipids, enzymes, carotenoids, eubiotics, and others. By species, the business vertical is split into poultry, ruminants, swine, pets, and others.
 

Moving on to application scope, the industry classification comprises animal feed manufacturers, households, farms, veterinarians, and others.
 

From a regional frame of reference, North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa are key contributors to overall industry remuneration. Asia-Pacific currently captures a major industry share and is likely to witness strong returns over the forecast period, as it is the largest producer of animal feed globally. Moreover, increasing production of swine feed in nations like Indonesia and Vietnam is expected to positively sway the regional market outlook over the next seven years.
 

Major companies profiled in global animal nutrition market report are Alltech Inc., Elanco Animal Health Inc., Koninklijke DSM N.V., Church & Dwight Co. Inc., SHV Holdings N.V., Cargill Inc., Tata Chemicals Ltd., BASF SE, Balchem Corp., Novozymes A/S, Kemin Industries Inc., and Nutrien Ltd.