June 16, 2024

Animal Nutrition Market is Estimated to Witness High Growth Owing to Rising Demand for Pet Food

The animal nutrition market comprises nutritional products for animal consumption including fodder, feed, and pet food. These nutritional products provide proteins, vitamins, carbohydrates, fats, and other micronutrients necessary to support animal growth and health.

Market Dynamics:

The animal nutrition market is expected to grow tremendously during the forecast period owing to rising demand for pet food and increasing adoption of pets. According to the American Pet Products Association, around 90 million households in the U.S. own at least one pet. Increasing pet parenting has raised demand for high-quality pet food over generic offerings. Furthermore, the growing meat consumption globally has augmented demand for aquafeed and poultry feed to fulfill the consumption needs sustainably. Advancements in animal nutrition products address species-specific nutritional requirements and aid in better digestibility and absorption of nutrients. This is expected to drive the growth of the market during the forecast period.

Animal Nutrition Market: Driver 1 – Rising Animal Protein Consumption Globally

The consumption of animal protein is significantly rising across both developed and developing countries. Meat consumption is substantially increasing in developing nations like China, Brazil, and India due to westernization and rising incomes. Moreover, awareness regarding health benefits of protein-rich diet is driving people towards meat products. This surge in meat demand worldwide is compelling livestock producers to focus more on high nutritional feeds and balanced diets for their animals. The growing population of companion pets is another key factor augmenting the demand for animal nutrition products globally.

Driver 2 – Advancements in Animal Feed Additives and Technologies

Leading manufacturers in the animal nutrition market are continuously investing in R&D activities to develop advanced feed additives and innovative feeding technologies. New products like palatability enhancers, non-antibiotic growth promoters, gut health promoters, mycotoxin binders, amino acid supplements etc. are helping to improve animal growth, health and productivity. Digital livestock monitoring systems, precision feeding equipment and feed database software are augmenting the efficiency of feeding processes. Technological upgrades are enabling livestock farmers to meet the rising demand for high-quality meat and dairy products in a sustainable way.

Restrain – Stringent Regulations on Antibiotic Use in Animal Feeding

Regulatory authorities worldwide are imposing stringent restrictions on the prophylactic use of antibiotics as growth promoters in livestock feeding due to rising public health concerns. The practice of routinely feeding low doses of antibiotics to promote animal growth is banned or facing restrictions in many countries. Some authorities are also limiting the therapeutic and prevention use of certain medically important antibiotic classes in animal feeds. Pharmaceutical companies need to invest more in developing antibiotic alternatives to comply with evolving regulatory guidelines. Compliance issues can negatively impact the profitability of animal nutrition market players.

Opportunity – Growing Demand for Organic and Natural Animal Feed

Driven by rising health awareness and sustainability priorities of consumers, the demand for organic and natural animal feed is expanding significantly across both developed and emerging economies. Farmers are motivated to shift towards natural feed options containing no synthetic chemicals or GMOs to cater to premium market segments. They can fetch higher prices for animal products sourced from sustainably and ethically farmed livestock. Leading companies have begun investing in organic and clean-label feed products containing natural growth promoters, gut health prebiotics and plant-based alternatives to antibiotics. This fast-growing niche provides major opportunities for revenue growth in the animal nutrition industry.

Trend – Focus on Pasture-Raised and Grass-Fed Livestock Systems

There is a growing preference among consumers as well as regulators for pasture-raised and grass-fed animal production systems that align with high animal welfare standards. Completely indoor livestock operations are facing scrutiny due to concerns over restricted animal movement. Sustainability-conscious customers are willing to pay premium prices for meat and dairy from ruminants allowed to graze on pastures as it fits their perception of natural and humane farming. Many livestock producers are transitioning to rotational or silvopasture grazing models needing specialized grazing-oriented feed formulations. This emerging trend presents scope for tailored animal nutrition solutions.

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  1. Source: Coherent Market Insights, Public sources, Desk research
  2. We have leveraged AI tools to mine information and compile it