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Global Poultry Feed Amino Acids Market 2024 : Trends, Business Growth And Major Driving Factors
Poultry Feed Amino Acids Global Market Report 2024
According to The Business Research Company's, The poultry feed amino acids market size has grown strongly in recent years. It will grow from $4.06 billion in 2023 to $4.37 billion in 2024 at a compound annual growth rate (CAGR) of 7.6%. The growth in the historic period can be attributed to growing poultry industry, increased demand for meat products, shift towards balanced diets, increased awareness of protein quality, industry focus on performance enhancement.
The poultry feed amino acids market size is expected to see strong growth in the next few years. It will grow to $5.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to focus on nutritional precision, rising demand for high-quality protein, shift towards sustainable agriculture, global population growth, research in animal nutrition. Major trends in the forecast period include demand for high-quality protein sources, focus on nutritional efficiency, shift towards plant-based proteins, health and disease prevention, genetic improvement in poultry.
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Market Drivers and Trends:
Increased consumption of meat is expected to propel the growth of the poultry feed amino acids market going forward. Meat refers to the flesh and other edible parts of any animal. Poultry feed amino acids are used to improve the growth and performance of poultry used for meat and increase in breast meat percentage in older broilers. For instance, in 2021, according to United Nations Food and Agriculture Organization, an Italy-based specialized agency to defeat hunger and improve nutrition, global meat production is projected to expand by nearly 44 million tons by 2030, reaching 373 million tons, and global meat consumption per capita is projected to increase 0.3% p.a. to 35.4 kg in retail weight equivalent (R.W.E.) by 2030. Moreover, according to Sentient Media, a US-based non-profit news organization, the total amount of meat consumed in the U.S. increased by 40% in 2021, and Americans consume approximately 274 pounds of meat on average annually. Therefore, increased consumption of meat will drive the poultry feed amino acid market.
Innovative product development is a key trend in the poultry feed amino acid market. Major companies in the poultry feed amino acids market are introducing innovative products to sustain their position in the market. For instance, in May 2022, METEX NØØVISTAGO, a France-based company that produces amino acid-based solutions for farm animals launched the INNEUS range of animal nutrition solutions for piglets and poultry based on amino acids. It is uniquely designed with amino acids to influence intestinal health that helps to cope with physiological and sanitary challenges such as weaning for piglets, or coccidiosis for chickens. It attempts to target gut barrier function, immunological fitness, oxidative state homeostasis, and microbial balance-the four major pillars of gut health.
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Major Key Players of the Market:
Kemin Industries Inc.; Evonik Industries AG; Novus International Inc.; Archer Daniels Midland Company; Koninklijke DSM NV; Meihua Holdings Group Co Ltd.; Sumitomo Corporation; Ajinomoto Co Inc.; Adisseo; The Dow Chemical Company; Badische Anilin- und Sodafabrik; Chr. Hansen Holding A/S; Kent Nutrition Group; JD Heiskell & Co; Cargill Incorporated; Nutreco NV; Sunrise Nutrachem Group Co Ltd.; Zhengzhou Global Bio-Chem Technology Co Ltd.; Lonza Group Ltd; Amino GmbH; Prinova Group LLC; Fufeng Group Ltd.; Phibro Animal Health Corporation; CJ CheilJedang Corporation; TransDigm Group Incorporated; Mills Manufacturing Corporation; Precision Aerodynamics LLC; Aerodyne Research Inc.; Safran SA; FXC Corporation; Bunge Limited; Novozymes A/S
Poultry Feed Amino Acids Market 2024 Key Insights:
• The poultry feed amino acids market will grow to $5.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%.
• Impact Of Rising Meat Production On Poultry Feed Amino Acids Industry
• Key Players' Strategies In Poultry Feed Amino Acid Market
• North America was the largest region in the poultry feed amino acids market in 2023
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