Animal Nutrition Chemicals Market expected to hit $15,335 Million by 2024 - Global Industry Analysis and Forecast | Tata Chemicals Ltd., S.p.A.,Cargill Inc., Evonik Industries AG and BASF SE

The global animal nutrition chemicals market growth is primarily driven by growth in animal-based products consumption. High nutrition and high protein food products such as meat, eggs, and milk are consumed by mankind on a large scale.

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The global animal nutrition chemicals market size was valued at $10,289 million in 2017, and is projected to reach $15,335 million by 2024, registering a CAGR of 5.9% from 2018 to 2024. In 2017, the amino acid segment accounted for one-fourth share of the global market in terms of value.

Animal nutrition chemicals not only help to improve meat quality, feed efficiency of animals but it also helps to provide nutrition to animals through their dietary supplements resulting in adequate fertility and healthy newborns, which propel the demand for animal nutrition chemicals for livestock‐™s production. In addition to meeting leather and clothing industries, demand breeders provide nutrition chemicals to animals for better quality skin and fur output affecting the market positively.

Analysis of the major players operating in the global animal nutrition chemicals market

•Tata Chemicals Ltd
•S.p.A.
•Cargill Inc.
•Evonik Industries AG
•BASF SE
•CHURCH & DWIGHT CO. INC
•Novozymes
•Koninklijke DSM NV
•BalChem
•Kemin Industries
•SHV N.V.

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The report segments the market based on product type, species, application, and region. Based on product type, the market is divided into amino acid, vitamin, mineral, enzyme, fish oil and lipid, carotenoid, eubiotics and others. By species, it is classified into poultry, swine, ruminants, pets and others. In terms of application, it is divided into animal feed manufacturers, farms, households, veterinarians and others. Geographical breakdown of the market includes North America, Europe, Asia-Pacific, and LAMEA.

Amino acids are the essential part of animal nutrition chemicals market. Amino acids are the vital nutrients required in animal’s body to complete main bodily functions such as protein synthesis, structuring cells, carriage and the storage of other nutrients. In addition, quality animal-based food products such as meat, milk, wool, and eggs are obtained by optimal supplementation of amino acid. Animal breeders are experiencing better results from branched-chain amino acids (BCAA) which are anticipated to cause a surge in demand for animal nutrition chemicals.

Rise in demand for high nutrition and high protein food such as meat, eggs, and milk among consumers is one of the key factors that propel the animal nutrition chemicals market growth. These chemicals help improve meat quality, fertility, and newborn survival & growth. Thus, to fulfill the demand of quality livestock from fast food and meat industry animal breeders and animal farmers are using animal nutrition chemicals on large scale supporting the market growth. Apart from this rapid industrialization of livestock farming, increase in health problems among animals and rise in pet health care centers and veterinaries are some of the major factors that boost the animal nutrition chemicals industry growth.

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High cost of these products, availability of substandard products, and cheap alternatives adversely affect the market growth. Furthermore, faster growth of animal meat and higher demand for meat across the world is anticipated to provide high return on investment. This factor leads to increase in number of animal farmers and modern animal husbandries which is anticipated to provide future animal nutrition chemicals market growth opportunity.

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