Animal Nutrition Market Size, Share, Industry, Forecast and outlook (2024-2031)

Global Animal Nutrition Market is segmented By Animal Type (Poultry, Ruminant, Aquaculture, Swine, Others) By Ingredients (Amino Acids, Enzymes, Minerals, Lipids, Vitamins, Others) By End-User (Aquaculture, Pet Food Manufacturers, Animal Feed Manufacturers, Others) and By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

Market Overview

Global Animal Nutrition Market reached US$ 23.12 billion in 2023 and is expected to reach US$ 39.13 billion by 2031, growing with a CAGR of 6.8% during the forecast period 2024-2031.

Animal nutrition plays a critical role in optimizing the health, growth, and productivity of livestock species such as cattle, pigs, poultry, and sheep. Nutritionists formulate balanced diets that meet the specific nutrient requirements of different production stages, including growth, reproduction, and lactation. They develop feed formulations, feeding programs, and management strategies tailored to the needs of each species and production system.

In aquaculture, nutrition is essential for maximizing the growth, survival, and quality of farmed fish, shrimp, and other aquatic species. Nutritionists formulate aquafeeds containing essential nutrients such as proteins, lipids, vitamins, and minerals to support the nutritional requirements of aquatic organisms.

Market Scope

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Market Dynamics: Drivers

Growing livestock and aquaculture industries

The expansion of livestock and aquaculture industries to meet the demand for animal protein is a significant driver of the animal nutrition market. The increasing commercialization of meat, dairy, poultry, and fish production drives demand for feed additives, supplements, and specialty ingredients that enhance animal health, growth, and productivity. The adoption of intensive farming practices and technological advancements further accelerates market growth.

For instance, according to World Bank, 2021, estimates that the livestock sector is a pillar of the global food system and a contributor to poverty reduction, food security, and agricultural development. Livestock contributes 40% of the global value of agricultural output and supports the livelihoods and food and nutrition security of almost 1.3 billion people.

At the same time, there is wide scope to improve livestock sector practices so that they are more sustainable, more equitable, and pose less risk to animal and human health. Globally, around 500 million pastoralists rely on livestock herding for food, income, and as a store of wealth, collateral or safety net in times of need.

Market Dynamics: Restraint

Stringent regulatory requirements

Compliance with stringent regulatory requirements and quality standards governing the production, labeling, and marketing of animal feed and pet food products can pose challenges for market participants. Regulatory changes, such as updates to feed safety regulations, labeling requirements, or restrictions on feed additives, may require costly adjustments to manufacturing processes and formulations. Regulatory uncertainty and compliance burdens can hinder product innovation and market entry.

Stringent regulatory requirements may create barriers to market entry, particularly for companies seeking to expand into new geographic regions or target niche market segments. Regulatory disparities between countries or regions can result in market fragmentation, trade barriers, and access restrictions for imported products. Compliance with multiple regulatory regimes adds complexity and administrative burdens for companies operating in global markets.

Market Segment Analysis

The global animal nutrition market is segmented based on animal type, ingredients, end-user, and region.

Increasing the demand for Aquaculture Production

The aquaculture from the animal type segment accounted for more thatn 30% of the share. Aquaculture encompasses a diverse range of species cultivated for various purposes. Commonly farmed fish species include salmon, trout, tilapia, carp, catfish, and barramundi, among others. Aquaculture has experienced significant growth in recent years, becoming one of the fastest-growing food production sectors globally.  The expansion of aquaculture production is driven by factors such as technological advancements, improved farming practices, and increased investment in the sector.

As aquaculture production scales up to meet rising demand, the need for high-quality, nutritionally balanced feeds becomes more pronounced. For instance, according to Europe Commission 2021, estimated that aquaculture farming in the EU yielded an estimated 1.1 million tonnes of aquatic organisms in 2021, corresponding to one-quarter of the output of European fisheries as a whole. This share was well below the global average in 2021 (about 57 %), underlining the growth potential in the EU.

 In terms of output, the EU’s aquaculture sector was the eleventh largest worldwide, a little more than Thailand, with a 0.9 % share of the volume of global output in 2021. Additionally, consumer awareness of the health benefits of consuming seafood, such as omega-3 fatty acids, supports the continued growth of aquaculture production. Providing nutritionally balanced feeds to farmed fish ensures the production of high-quality seafood products that meet consumer demand for nutritious and sustainably sourced protein sources.

Market Geographical Share

New Product Developments

North America is at the forefront of emerging trends and market opportunities in animal nutrition, including personalized nutrition, alternative protein sources, and sustainable feed solutions. Partnerships facilitate collaborative research and development initiatives that accelerate innovation and product development in the animal nutrition market. By pooling resources and expertise, companies can tackle complex challenges, explore new technologies, and bring novel products to market more efficiently.

For instance, in 2023, Danisco Animal Nutrition & Health, a business unit of IFF, launched Axtra PRIME, an optimized enzyme blend designed to address key challenges in piglet production. Currently available in the U.S., this highly effective feed solution improves nutrient digestion, enhances gut health, and delivers measurable performance results.

Additionally, in 2022, Pathway Intermediates USA, a subsidiary of Pathway Intermediates Limited, located in Shrewsbury, U.K., announces the launch of Pathway Nutrition, its new sales and technical service team dedicated to bringing Pathway products to North America markets. Pathway Intermediates has long been considered a leader in research and product development in livestock animal nutrition and health products across all livestock species and has locations across the globe.

COVID-19 Impact Analysis

The pandemic led to disruptions in global supply chains, affecting the availability and distribution of feed ingredients, additives, and finished feed products. Lockdowns, travel restrictions, and border closures disrupted logistics and transportation networks, leading to delays in the delivery of raw materials and finished goods. Supply chain disruptions increased costs, reduced inventory levels, and impacted production schedules for feed manufacturers and suppliers.

The COVID-19 pandemic introduced market volatility and uncertainty in the animal nutrition market. Fluctuations in commodity prices, currency exchange rates, and input costs affected profitability and financial performance for feed manufacturers and suppliers. Market uncertainty led to cautious spending behavior among consumers and businesses, impacting investment decisions, expansion plans, and strategic initiatives in the animal nutrition sector.

Market Competitive Landscape

The major global players in the market include Cargill, Advanced Enzyme Technologies Limited, AGROVET Animal Healthcare, Archer Daniels Midland Company, BASF SE, Biovet, Bluestar Adisseo, Evonik Industries, AB Vista, Land O’Lakes, among others.

Key Developments

• In 2022, DSM and Firmenich partnered into a business combination agreement (the "BCA") to establish the leading creation and innovation partner in nutrition, beauty, and well-being ("DSM-Firmenich"). The combination will bring together Firmenich's unique leading Perfumery and Taste businesses, its world-class science platforms, and associated co-creation capabilities with DSM's outstanding Health and Nutrition portfolio and renowned scientific expertise.
• In 2023, ADM reached an agreement to acquire PT Trouw Nutrition Indonesia. The company strengthens its animal nutrition capabilities in Indonesia with the planned acquisition. With the planned acquisition, ADM will be strengthening its premix and feed additives & ingredients (FA&I) business and strategically positioning itself to meet the anticipated market growth to sustain the rising demand for protein.

Why Purchase the Report?

• To visualize the global animal nutrition market segmentation based on animal type, ingredients, end-user, and region as well as understand commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of animal nutrition market-level with all segments.
• PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global Animal Nutrition market report would provide approximately 69 tables, 58 figures, and 187 Pages.

Target Audience 2024

• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies