Nutrition chemicals market is expected to grow at a significant CAGR during the forecast period. Among type, the animal nutrition chemical is expected to hold a lucrative share in the market. Owing to the rising demand for safe and healthy pet food, and rising adoption of pets particularly in North America and Europe, the animal nutrition chemicals segment is expected to rise significantly. According to the 2019-2020 National Pet Owners Survey conducted by the American Pet Products Association (APPA), around 67.0% of the US household that accounts for 85 million families living in the US, owned at least a pet. There were 84.9 million households with pets which is 67% of the total households registered under the survey. The rising consumer awareness about good pet nutrition is expected to enable consumers to pay higher prices for healthy and nutritious pet food.
Meat consumption has risen in recent years as a result of expanding population, notably in the BRICS and Southeast Asian emerging countries. Rapid changes in the meat and poultry markets, combined with increased competition, have heightened the need for important market actors to improve and sustain product quality. For Instance, according to the report of Food and Agriculture Organization of the United Nations the global production meat in 2018 was around 336.4 million tonnes. The US accounted for 46, 768 thousand of tonnes in total meat production. The meat and poultry industry is the largest segment of U.S. agriculture. Over the next few years, rising urbanization and increased meat exports are expected to have a beneficial impact on product demand. Further, requirement for animal nutrition chemical products is being driven by rising red and white meat consumption, a demand for a protein-rich diet, population growth, and proportionally increasing food availability difficulties. Owing to the high consumption rate of chicken and advancements in poultry production technologies, poultry is a major application among animal nutrition chemical segment. The rising risk of lethal infections and nutritional deficiencies among poultry fowls has resulted in an increase in demand for animal nutrition chemical products in the poultry business.
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Market Coverage
- The market number available for – 2021-2029
- Base year- 2021
- Forecast period- 2023-2029
- Segment Covered
- Regions Covered- Globally
Competitive Landscape: BASF SE, Evonik Industries AG, and Lonza Group AG, among others.
Nutrition Chemicals Market Report by Segment
By Type
- Animal
- Plant
- Food
- Others
By Application
- Pharmaceutical
- Food
- Agriculture
- Cosmetics
- Others
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Nutrition Chemicals Market by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
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