Animal nutrition is in great demand to meet the nutritional needs of livestock and to meet future needs. To improve return on investment, breeders are focused on increasing the number of healthy animals by offering pre-mixes for animal feed. The pet market is one of the main application of pet food due to the rapid growth of the pet population. Common diseases in animals, such as vomiting, difficulty urinating, diarrhea and, are treated with nutrients and chemicals in animal feed. This factor has dramatically increased the demand for animal nutrition by veterinarians. The consumption of fish meat and oil and the use of fish-based fertilizers are increasing. These are several key factors that contribute to the growth of the market in the aquaculture sector.
In April, 2021, The United States-based Balchem Corporation invested $ 5 million in Covington, Virginia, to expand production capacity to support the production of essential nutrients in the global animal health and nutrition markets. The expansion of the factory, which opened in 2013, will double the amount of food used and the food used in the animal health market. The company hopes that the project will help meet the growing demand for these ingredients worldwide.
The global animal nutrition market is generally diversified based on product types, species, application and regions. Based on the product type, the global market is segmented into eubiotics, amino acids, nutrition lipids, vitamins, fish oils, minerals, carotenoids, enzymes, and others. By species, the global market for animal nutrition market is bifurcated into poultry, swine, ruminants, pets, and other species. The global animal nutrition market is also classified on the basis of application into Veterinarians, animal, feed manufacturers, households, farms, and others.
Region-wise, Asia-Pacific region dominates the global animal nutrition market. India and China lead the market in the Asia-Pacific region due to increased production and consumption of meat and livestock products, as well as animal production and population growth in the region. While the United States is expected to grow in the North American food and feed market during the forecast period, due to increased consumer awareness of pet food and increased spending on animal health and nutrition.
Some of the leading players contributing in the global animal nutrition market include Nutreco, Cargill, Adisseo France, BASF, Novozymes, Royal DSM, Kemin Industries, Evonik Industries, , DuPont, Archer-Daniels-Midland, Dow Chemical, and Alltech, among others. The animal nutrition market is fused with the presence of major global players. High quality products made to measure and ease of use are the most important factors that manufacturers take into account when developing new animal nutrition products.