Animal Nutrition Chemicals Market Sales Volume, Status, Growth, Opportunities and Global Market Share Of 2018-2024
According to a new report
published by KD Market Insights, titled, Animal Nutrition Chemicals
Market by Product, Species and Applications: Global Opportunity
Analysis and Industry Forecast, 2018-2024 the global animal nutrition chemicals
market size was valued at $10,289 million in 2017, and is projected to reach
$15,335 million by 2024, registering a CAGR of 5.9% from 2018
to 2024. In 2017, the amino acid segment accounted for one-fourth share of the
global market in terms of value.
Animal nutrition chemicals
are dietary supplements that help boost the animal's health. These products are
mainly used to improve the immune system of the animal. It also helps in
livestock production, pet healthcare, and animal nutrition. The products
manufactured by the animal nutrition chemicals market are carotenoids, organic
acids, enzymes, vacuum salts, and vitamins. Growth in consumption and
industrialization of animal-based products support the growth of the animal
nutrition chemicals industry.
In addition, factors such
as rapid industrialization of livestock farming, increase in health problems
among animals, and rise in pet health care centers and veterinaries fuel the
growth of the animal nutrition chemicals market. However, high cost of these
products, availability of substandard products and cheap alternatives adversely
affect the market growth. Furthermore, faster growth of animal meat and higher
demand for meat across the world is anticipated to provide high return on
investment. This factor leads to the increase in number of animal farmers and
modern animal husbandries, which is anticipated to provide future market growth
opportunity.
Browse Full Report
& TOC: https://www.kdmarketinsights.com/product/animal-nutrition-chemicals-market-amr
Key Findings of the
Animal Nutrition Chemicals Market:
- By product type, the
amino acid segment was the highest contributor to the market in 2017, and is
projected to grow at a CAGR of 5.2%.
- By species, the poultry segment was the highest contributor to the market and is expected to grow at the CAGR of 5.7% from 2018 to 2024.
- The pet and poultry segments are expected to witness growth at a CAGR of 7.8% and 5.7% respectively, during the forecast period.
- By application, the animal food manufacturers segment was the highest contributor to the market and is expected to grow at the CAGR of 6% during the forecast period.
- By region, Asia-Pacific accounted for more than one-third of the share in the global animal nutrition chemicals market in 2017 and is projected to grow at a significant CAGR of 6.5%.
- In 2017, China accounted for the highest market share accounting approximately for 51.7% in Asia-Pacific.
- In application segment, the households sub-segment is expected to witness growth at a CAGR of 7.4%
- By species, the poultry segment was the highest contributor to the market and is expected to grow at the CAGR of 5.7% from 2018 to 2024.
- The pet and poultry segments are expected to witness growth at a CAGR of 7.8% and 5.7% respectively, during the forecast period.
- By application, the animal food manufacturers segment was the highest contributor to the market and is expected to grow at the CAGR of 6% during the forecast period.
- By region, Asia-Pacific accounted for more than one-third of the share in the global animal nutrition chemicals market in 2017 and is projected to grow at a significant CAGR of 6.5%.
- In 2017, China accounted for the highest market share accounting approximately for 51.7% in Asia-Pacific.
- In application segment, the households sub-segment is expected to witness growth at a CAGR of 7.4%
In terms of value,
Asia-Pacific and LAMEA collectively contributed more than 55% share in the
global market in 2017. Some of the major players operating in the global animal
nutrition chemicals market are Tata chemicals Ltd, S.p.A., Cargill, Inc.,
Evonik Industries AG, BASF SE, CHURCH & DWIGHT CO. INC, Novozymes,
Koninklijke DSM NV, BalChem, Kemin Industries, and SHV N.V.
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