Visiongain Publishes Animal Nutrition Chemicals Market Report to 2031
02 March 2021
Visiongain has published a new report on Animal Nutrition Chemicals Market Report to 2031: Forecasts by By Product Type (Amino Acids, Vitamins, Eubiotics, Minerals, Enzymes, Carotenoids, Fish Oil and Lipids, Others), By Species (Ruminants, Swine, Poultry, Pets, Aquaculture, Others), By Application (Farms, Animal Feed Manufacturers, Veterinarians Others), By Distribution Channel ((Online Channels, Offline Channels (Organized Retail (Supermarkets & Hypermarkets, Convenience Stores, Departmental Stores, Others), Unorganized Retail)) PLUS Profiles of Leading Animal Nutrition Chemicals Manufacturing Companies and Regional and Leading National Market Analysis, PLUS COVID-19 Recovery Scenarios.
Global animal nutrition chemicals market was valued at US$ xx million in 2020 and is projected to reach at a market value of US$ XX million by 2031. Rising consumption of animal based-products and industrialization of these products is augmenting the market for animal nutrition chemicals across the globe.
COVID-19 Impact on Animal Nutrition Chemicals Market
The COVID-19 pandemic has disrupted the market for animal nutrition in from consumer as well as manufacturing end. The consumers are reluctant to buy animal based products, owing to the concerns regarding contamination of the meat by the virus. In some of the countries such as India, U.S., and China the sales of meat has been crippled and has also resulted in shut down of major meat processing plants in U.S. during the initial stage of the pandemic. The retail sales are majorly impacted owing to the concerns related to hygiene and other safety norms with respect to the pandemic, which has resulted in a considerable decline in the revenue generated through offline sales. However, the online sales of animal based products have experienced a hike in the revenue generation and the animal based products industry is recovering from the lost revenue with vendors and manufacturers undertaking precautionary measures to ensure product safety. This eventually has impacted the growth of animal nutrition chemicals market initially. Moreover, the steady growth of the animal based products industry at the later stage of pandemic is steadily propelling the market demand for animal nutrition chemicals.
Increasing Consumption of Animal-Based Products
The meat production has more than quadrupled over the past 50 years and is expected to continuously grow over the years. High income countries are the major consumers of meat, whereas the primary demand for meat is driven by the middle income countries such as Brazil, India and China, due to the increasing consumer disposable income in these countries. Additionally, the increasing population and urbanization from Southeast Asian countries have contributed significantly to the growth in livestock production and meat consumption. In 2000, the urban population of Southeast Asian countries comprised 38%, whereas in 2017, the urban population accounted for 49% of the total population and is further expected to increase, which is further increasing the market for animal nutrition in these countries. In 2018, the production of bovine meat (beef and veal) in European Union (EU) stood at 7.9 billion with a moderate increase of 1.7% from 2017. The major meat producing countries in EU were France, Germany and United Kingdom contributing to 18.3%, 15.2% and 13.2% of the share respectively in 2018. The increasing production and consumption of meat is resulting in the increased demand for animal nutrition chemicals to ensure proper growth, maintenance of the animals.
Rising Industrialization of Animal Industry
Industrialization of the animal based products has expanded across various parts across globe and is especially in the developed countries. The economic size of animal sector is nearly equal to that of crop sector as measured by the value of production by USDA. Additionally, the government across developing countries are also investing into development of animal based products industry. For instance, in 2020, the Government of India launched animal husbandry infrastructure development fund of US$ 2.13 Bn. Moreover, in 2019, the Government of India launched National Animal Disease Control Programme and further allocated US$ 1.89 Bn for the same scheme in 2020. These initiatives will help in ensuring proper safety, maintenance and health of the animals, which is accelerating the animal nutrition chemicals market. In Brazil the cattle slaughter infrastructure expanded at the rate of 60.3% during the period 2004-2016 and the exports of beef have considerably increased over the years, indicating the rise in trade related to animal industry, thereby creating demand for animal nutrition chemicals.
Increasing Popularity of Bio-Based Animal Nutrition
Bio-based animal nutrition uses biological elements such as fungi and bacteria to improve the nutrition in animal feed. There has been an increasing trend and adoption of biotechnology across various industries and it has a positive impact on the animal nutrition chemicals market as well. With the increasing popularity off bio-based animal nutrition, various investments in new product development and research are being undertaken by the players in this market space. For instance, in October 2019, Bioiberica Animal Nutrition presented their product Nucleoforce Aqua™ at the Aquaculture Europe 2019 congress. The product is a combination of 30% concentration of available nucleotides and active precursors derived from yeast to help fishes improve their immune and digestive system. The market demand for bio-based animal nutrition chemicals will further create opportunities for the animal nutrition chemicals market.
Technological advancement in the market space
Technologies such as Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT) are trending and has tremendous impact on the animal nutrition chemicals market. Big data and AI uses the data that is available in large amount to combine proper amounts of minerals, proteins and vitamins to develop appropriate animal nutrient. In July 2019, Stonehaven Incubate and Nuritas entered into agreement to use artificial intelligence technology to monitor and develop advanced solutions for animal health. The primary aim was to develop animal food ingredients and to identify bioactive peptides to provide excellent solutions for animal health. Technological innovations and advancements in the field of animal nutrition chemicals market is further expected to generate revenue during the forecast period.
Some of the companies profiled in the report include DuPont, BASF SE, Cargill, Incorporated and ADM Animal Nutrition among others. Several organic and inorganic strategies are being adopted by these players in order to gain competitive edge over other players in the animal nutrition chemicals market. For instance, in August 2020, DuPont Nutrition & Biosciences announced the opening of its new animal nutrition manufacturing facility in China to provide the animal product manufacturing industry with customized animal nutrition solutions.
Notes for Editors
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