Animal nutrition deals with the dietary requirements of many animals, mostly those in food production and agriculture, but also in aquariums, zoos, and wild animal management. The basic premise of this theory is that an animal's body is a system of organs and glands and its diet is a function of those organs and glands. Nutrition therefore has to be balanced and designed for each type of organ and gland. For example, the liver produces bile which is used to digest fats and maintain the balance of electrolytes. Therefore, the liver is the primary organ responsible for animal nutrition.
Market Dynamics
Increasing adoption of companion animals is expected to propel growth of the animal nutrition market. For instance, according to 2017-2018 U.S. Pet Ownership & Demographics Sourcebook of American Veterinary Medical Foundation (AVMF), 38.4% of household in the U.S. owned dogs compared to 36.5% in 2012. Moreover, increasing veterinary expenditure is also expected to aid in growth of the market. For instance, according to 2017-2018 U.S. Pet Ownership & Demographics Sourcebook of American Veterinary Medical Foundation (AVMF), the veterinary expenditure per animal in the U.S. was US$ 227 in 2012, which increased to US$ 253 in 2017-2018.
High prevalence of salmonella infection is expected to offer lucrative growth opportunities for players in the animal nutrition market. For instance, according to May 2019 report of the Centers of Disease Control and Prevention (CDC), salmonella infection (salmonellosis) causes approximately 1.2 million illnesses and 450 deaths annually, in the U.S. and in 2018, there were 18 reported outbreaks, 15 of which were linked to food.
Among regions, North America is expected to witness significant growth in the animal nutrition market, owing to increasing consumption of chicken in the region. For instance, according to research presented at the 2018 Chicken Marketing Summit, Florida, U.S., 86% of consumers during a two week survey in the U.S. ate a chicken meal or snack purchased from a supermarket and 68% ate a chicken meal or snack from a food service establishment.
Asia Pacific is also expected to witness significant growth in the animal nutrition market, owing to launch of new national equine events in the region. For instance, in July 2020, Equifest, New Zealand's newest national equine event is expected to be held from November 27 to 29 in Taupō.
Competitive Analysis
Major players operating in the animal nutrition market include, Archer-Daniels-Midland Company (ADM), Adisseo France SAS, Alltech, BASF SE, Cargill Inc., Dow Chemical Company, DuPont, Evonik Industries AG, Tata Chemicals, Novozymes A/S, Royal DSM N.V., Kemin Industries, Inc., and Nutreco N.V.
July 2020: ADM acquired Yerbalatina Phytoactives, a pioneering natural plant-based extracts and ingredients manufacturer.
In-depth Report on Animal Nutrition Market by Coherent Market Insights:
https://www.coherentmarketinsights.com/ongoing-insight/animal-nutrition-market-1630
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