According to the research literature titled ‘GLOBAL Animal Nutrition Market 2019-2028’, available with Market Study Report, global animal nutrition market is projected to exhibit an appreciable CAGR of 5.18% during the forecast period 2019-2028.
 

As per the findings of the research report, industrialization of animal agriculture, increasing disposable income, and proliferating demand for meat and animal-based food products are fueling global animal nutrition market growth.
 

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On the contrary, high cost of animal nutrition products and widespread availability of potentially harmful counterfeits at a significantly lower price point are negatively impacting the business scenerio. Moreover, increasing environmental challenges are hindering the market expansion.
 

Global animal nutrition industry, based on product type, is categorized into amino acids, minerals, vitamins, enzymes, eubiotics, fish oils and nutrition lipids, carotenoids, and others. In terms of species, the industry fragmentation comprises, swine, poultry, pets, ruminants, and others. Proceeding further, the application segmentation constitutes farms, animal feed manufacturers, veterinarians, households, and others.
 

From a regional perspective, North America, Europe, Latin America, Europe, and Middle East & Africa are the key contributors to global animal nutrition market development. Moving to the country-level assessment, U.S., Canada, Germany, Italy, France, Russia, Spain, India, China, Japan, ASEAN countries, Australia & New Zealand, Brazil Mexico, South Africa, United Arab Emirates, Turkey and Saudi Arabia are the major growth avenues for the industry.
 

Asia-Pacific is touted to grab a large portion of the overall animal nutrition industry share during the assessment period. The region is the biggest animal feed producer worldwide, thus directly affecting the demand for animal nutrition products. Moreover, rising production of swine feed in nations like Indonesia and Vietnam is expected to boost the regional industry growth in the upcoming years.
 

Speaking of the competitive arena, Evonik Industries AG, Alltech Inc., Elanco Animal Health Inc., Koninklijke DSM N.V., Church & Dwight Co. Inc., SHV N.V., Cargill Inc., Tata Chemicals Ltd., BASF SE, Balchem Corp., Novozymes A/S, Kemin Industries Inc., and Nutrien Ltd. are the major players influencing global animal nutrition market dynamics.