May 10, 2022
According to the recent research report titled ‘Global Animal Nutrition Market (2021 Edition) - Analysis By Ingredient (Minerals, Vitamins, Enzymes, Amino Acids), Species, By Region, By Country: Market Insights and Forecast with Impact of COVID-19 (2021-2026)’, available with MarketStudyReport, global animal nutrition market had reached a valuation of USD 26.54 billion in 2020 and is estimated to grow exponentially through 2026.
The growing demand for safe and nutritious animal food, rising awareness regarding animal health, mounting animal rearing practices, growing population of domesticated animals, and increase in meat consumption among consumers are some of the major factors driving the growth of the global animal nutrition market.
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Farmers are focusing on preventing disease and deficiencies in livestock to get high-quality and faster meat, thereby stimulating the overall industry outlook.
Global animal nutrition marketplace is segmented in terms of ingredient type, species type, and regional contribution.
As per ingredient type, the market is further divided into vitamins, minerals, enzymes, and amino acids/others. Among these, amino acids segment is estimated to grow considerably over the analysis timeline. Amino acids are not only building blocks of body proteins but also important for biochemical and metabolic processes in animals’ cells.
Moving on to species type the market is fragmented into ruminants, aqua, poultry, swine, and pet segments.
Regionally, Asia pacific market is anticipated to grow significantly over the review period on account of the growing population and rapid urbanization in emerging nations such as India, China, and Japan.
The leading companies operating in the global animal nutrition market include ADM Company, Evonik Industries AG, Balchem Corporation, Elanco Animal Health Incorporated, Cargill Inc., Bunge Limited, Adisseo, DSM Company, CEVA Logistics, and Alltech.