Press release
Global Animal Nutrition Market to witness Surging Demands with Growing Nutritional Requirements
Global Animal Nutrition Market
"Browse 61 Market Data Tables and 50 Figures spread over 219 Pages, along with an in-depth TOC on the Global Animal Nutrition Market Forecast 2021-2028."
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Animal nutrition entails focusing on the dietary needs of animals, of those majorly in food and agriculture production, along with aquariums, wildlife management, and zoos. Also, it contributes considerably to nutrient efficient livestock production and sustaining the dietary and safety quality of animal products for human consumption.
Rising Demand due to Increasing Nutritional Requirements drives Market Growth
The shifting lifestyles have led to a growing demand for protein-rich, high-nutrition foods like milk, eggs, and meat. Also, increased incomes and urbanization have changed consumption patterns. As a result, along with changing amount of food, the demand for types of food and their relative contribution to diets are also set to change. Therefore, to meet the surging demand for nutritional feed, the demand for animal farming, breeding, and rearing livestock has significantly increased.
Furthermore, animal nutrition is increasingly preferred to cater to the future needs of existing livestock. For this, breeders focus on boosting healthy animal count through animal nutrition premixes to enhance return on investments. These are administered to animals to help produce healthy newborns, and improve fertility, thereby propelling the livestock population. Such factors are raising the demand for animal nutrition.
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Poultry: Major Species in terms of Revenue Share
The poultry segment entails turkey, goose, chicken, and other birds. Chicken is among the most-farmed poultry, given the high consumption rate of eggs and meat globally. Also, the rising need for higher meat production using animal feed has led to the fast-paced growth of the market analyzed. In addition, advancements in poultry production methods and genetic improvement of poultry fowls have aided in increasing profits for poultry farmers. Moreover, the recent fatal poultry disease incidences and nutrition malfunction among poultry fowls are surging the demand for animal nutrition.
Asia-Pacific to record the Highest Revenue Share & CAGR
The growing disposable income and rapid urbanization are evaluated to be the major growth drivers. Also, the surging consumer health awareness is projected to offer ample growth opportunities for manufacturers and vendors. Further, in countries like India, the livestock population like cattle is associated with an increasing human population.
The competitive rivalry is highly intense with frequent strategic alliances, acquisitions, and mergers. Also, the market is estimated to be moderately fragmented. Some prominent market players include Royal DSM, BASF, Cargill Incorporated, Alltech Inc, etc.
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