DUBLIN--(BUSINESS WIRE)--The "Animal Nutrition Chemicals Market by Product, Species, Application - Global Opportunity Analysis and Industry Forecast, 2018-2024" report has been added to ResearchAndMarkets.com's offering.
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.
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.
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.
However, high cost of these products, availability of substandard products and cheap alternatives adversely affect the market growth.
Key Findings
- 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.
- In application segment, the households sub-segment is expected to witness growth at a CAGR of 7.4%
Company Profiles
- Tata Chemicals Ltd. S.P.A
- Cargill Inc.
- Evonik Industries AG
- BASF SE
- Church & Dwight Co. Inc.
- Novozymes
- Koninklijke DSM NV
- Bal Chem
- Kemin Industries
- SHV N.V
For more information about this report visit https://www.researchandmarkets.com/research/zltz68/animal_nutrition?w=4
