Leading market players are focused on vertical integration of their businesses to keep ahead of competition and to provide complete solutions to end users.
LONDON, ENGLAND / ACCESSWIRE / March 11, 2020 / The global nutritional ingredients in animal feeds market is projected to reach a valuation of US$ 641.3 Mn in 2029, with a forecasted growth of 4% CAGR during 2019 - 2029. As indicated by a new study by Future Market Insights (FMI), the market is receiving impetus from the rising per capita consumption of meat products in developing regions, and the consequent expansion of the livestock industry.
"North America is set to emerge as a lucrative market for nutritional ingredients in animal feed. The growth of consumer awareness, and a higher per-capita income, supports the rise of the market," opines the Future Market Insights study.
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Key Research Findings of FMI's Nutritional Ingredients in Animal Feeds Market Study
- Soybean meal in animal feeds will continue to account for a majority of the market revenue.
- Key players are expected to invest in the development of new microbial strains to bolster immune function in animals and attain an edge on the competition.
- North America continues to lead the global market, owing to a major livestock industry.
- Europe and Latin America will display steady growth with rising demand for animal products.
Key Growth Drivers - Nutritional Ingredients in Animal Feeds Market
- Expansion of the livestock feed industry and aquaculture in developing countries is driving the growth of nutritional ingredients in the animal feeds market.
- Rising per capita meat consumption figures is a key factor shaping popularity of nutritional ingredients in animal feeds market.
- Restrictions on the use of antibiotics and growing awareness about animal health among pet owners broadens their scope of adoption.
Key Impediments - Nutritional ingredients in animal feeds Market
- High costs related to the production and sale of animal feeds in different countries continues to be a major restraint for the growth of the nutritional ingredients in animal feeds market.
- Lack of awareness among a large number of potential end users will remain a key impediment facing manufacturers of nutritional ingredients in animal feeds.
Explore the full nutritional ingredients in animal feeds market report with 96 illustrative figures, 96 data tables and table of contents. Also avail a detailed market segmentation on https://www.futuremarketinsights.com/askus/rep-gb-11090
Competition Structure Analysis - Nutritional Ingredients in Animal Feeds Market
Competition landscape of the global nutritional ingredients in animal feeds market will primarily remain influenced by investments in vertical integration of businesses to fend off competition. Chinese companies in particular have been displaying high levels of competitiveness. Smaller companies and venture capitalists will be seen as one stop solutions for consumers to gain an edge over the competition. The development of novel microbial strains and a widening product portfolio marks a significant trend that would shape up the competition in the near future.
Some of the key participants in global nutritional ingredients in animal feeds market that are profiled in this Future Market Insights' report, which include but are not limited to, Altech Corp., BASF SE, Barentz, and Ingredion Inc.
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About the Report
The report offers global, regional, and country level analysis of the latest industry trends impacting the nutritional ingredients in animal feed market. The study provides compelling insights on nutritional ingredients in animal feeds market on basis of ingredients (corn, wheat, soybean meal, and oats), by type (vitamins, minerals, amino acids, enzymes, acidifiers, antibiotics, and antioxidants) across 30 countries spanning seven key regions (North America, Latin America, Europe, East Asia, South Asia, Oceania, and Middle East and Africa).
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in London, the global financial capital, and has delivery centres in the U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and take critical decisions with confidence and clarity amidst breakneck competition.
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SOURCE: Future Market Insights