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Feed And Animal Nutrition Market Size, Growth Demand, Analysis 2024-2033
Feed And Animal Nutrition Market
As per the report, the feed and animal nutrition market size has grown strongly in recent years. It will grow from $499.76 billion in 2023 to $533.73 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The feed and animal nutrition market size is expected to see strong growth in the next few years. It will grow to $698.61 billion in 2028 at a compound annual growth rate (CAGR) of 7%.
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Rising Global Consumption of Meat, Dairy, And Poultry Products Boosts Feed And Animal Nutrition Market Growth
The increased consumption of meat, dairy, and poultry products is expected to propel the growth of the feed and animal nutrition market going forward. Meat, dairy, and poultry products refer to animal-derived food items, including beef, pork, chicken, eggs, milk, and cheese. The increasing consumption of meat, dairy, and poultry products can be attributed to the rising global population, changing dietary habits, and growing demand for protein-rich foods. The development of feed and animal nutrition solutions enhances the quality and productivity of meat, dairy, and poultry products, which contributes to sustainable farming practices, animal welfare, and overall food safety standards. For instance, in June 2023, according to a report published by the Food and Agriculture Organization of the United Nations (FAO), a US-based agency that specializes in promoting food security, sustainable agriculture, and rural development, global meat production is projected to rise from 356.9 million metric tons in 2021 to 363.9 million metric tons in 2023, reflecting a 1.96% increase. Specifically, global bovine meat production is expected to increase from 74.9 million metric tons in 2021 to 76.1 million metric tons in 2023. Additionally, global poultry meat output is forecast to reach 138.2 million metric tons in 2021 to 142.7 million metric tons in 2023. Similarly, global ovine meat output is forecast to be 16.8 million metric tons in 2023, reflecting a 1% year-on-year increase. Therefore, increased consumption of meat, dairy, and poultry products is driving the feed and animal nutrition market.
Innovative Sweetening Solutions Revolutionize Feed And Animal Nutrition Market
Major companies operating in the feed and animal nutrition markets are focused on developing innovative products, such as in-feed sweetening solutions designed to improve feed palatability and encourage feed intake during critical growth stages. In-feed sweetening solutions are additives used in animal feed to enhance its palatability and encourage consumption. These solutions often contain natural or artificial sweeteners to improve the taste of feed for livestock and pets. For instance, in November 2022, The Archer-Daniels-Midland Company (ADM), a US-based food processing and company, launched its SUCRAM range, an in-feed sweetening solution for livestock species. The range has two products such as SUCRAM M'I Sweet and SUCRAM Specifeek. These products are in-feed sweetening solutions specifically designed to improve the palatability of feed for young animals, particularly weanling pigs. These sweeteners aim to enhance feed intake and efficiency for producers while supporting animal health and well-being. These saccharin-free sweeteners have been tested in an in-vitro swine sweet taste receptor model and are intended to encourage feed intake during the transition from liquid to solid feed. The products may also optimize nutrient absorption, support gut health, and promote growth and performance in pigs during this stressful period.
The feed and animal nutrition market covered in this report is segmented -
1) By Product Type: Amino Acids, Vitamins, Minerals, Enzymes, Fish Oils And Nutrition Lipids, Eubiotics, Carotenoids, Other Product Types
2) By Species: Poultry, Swine, Ruminants, Pets, Other Species
3) By Administrative Method: Oral, Topical, Injection
4) By Application: Veterinarians, Animal Feed Manufacturers, Households, Farms, Other Applications
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Major companies operating in the feed and animal nutrition market are Cargill Incorporated, Archer Daniels Midland Company, BASF SE, Tyson Foods Inc., Evonik Industries AG, Charoen Pokphand Foods Public Company Limited, Land O'Lakes Inc., Koninklijke DSM N.V., De Heus Animal Nutrition B.V., Nutreco N.V., Elanco Animal Health Incorporated, Wilbur-Ellis Company LLC, Alltech Inc., Royal Agrifirm Group B.V., ForFarmers N.V., Trouw Nutrition USA LLC, Kemin Industries Inc., Lallemand Inc., Phibro Animal Health Corporation, Balchem Corporation, Ridley Corporation Limited, Kent Nutrition Group Inc., Novus International Inc., Manna Pro Products LLC, Zinpro Corporation, Diamond V Mills Inc., Vita Plus Corporation, BIOMIN Holding GmbH, Hi-Pro Feeds LP
Contents of the report:
1. Executive Summary
2. Feed And Animal Nutrition Market Report Structure
3. Feed And Animal Nutrition Market Trends And Strategies
4. Feed And Animal Nutrition Market - Macro Economic Scenario
5. Feed And Animal Nutrition Market Size And Growth
…..
27. Feed And Animal Nutrition Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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