Revenue forecast

The revenue estimate for the base year 2023 is $25,766.8 million, with a CAGR of 5.7% for the study period 2021–2030

The Impact of the Top 3 Strategic Imperatives on the Animal Feed Ingredients Industry

Geopolitical Chaos

Why

• Feed crop and agriculture fertilizer prices surged significantly in 2022. Global pressures such as the Russo-Ukraine war, trade sanctions on Russia, heightened feed (especially corn) demand from China, and high energy costs primarily drove this increase.
• The weather has strained the feed crop supply and increased their prices.
• These record-high prices have increased the cost of livestock and aquaculture production and resultant meat, escalating expenses for farmers and consumers.

Frost Perspective

• This geopolitical chaos affected livestock and aquaculture farmers’ ability to buy feed additives in 2022.
• To cope with the increasing prices, the demand for feed additives that reduce feed conversion ratio (FCR) and increased feed efficiency will see higher growth.
• Securing supply relations will help value chain participants overcome price-related challenges in the future. Strategies such as dual sourcing remain essential to avoiding raw material volatility.

Transformative Megatrends

Why

• In the wake of unpredictable feed supply resulting from resource scarcity and environmental impact concerns, farmers around the globe are recognizing the importance of sustainable farming and diversifying their feed options.
• Growing concerns about antimicrobial resistance (AMR) threaten human health with the use of antibiotic growth promoters (AGPs) in animal nutrition are pushing several countries to put regulatory bars on its use in livestock and aquaculture farming.

Frost Perspective

• Insect protein meal can serve as an environmentally friendly and sustainable alternative to conventional protein sources such as fish meal and soy meal in the animal nutritional industry and can greatly reduce the ecological footprint of feed production.
• The growing regulatory bars on AGP use in animal nutrition are creating growth opportunities for ingredients such as probiotics, prebiotics, enzymes, organic trace minerals, and organic acid as potential antibiotic alternatives.

Disruptive Technology

Why

• Smart farming and technological advancements, such as precision nutrition and digital solutions, can help optimize feed formulations, monitor animal health, and improve overall efficiency in feed production.
• The use of next-generation technologies will help value chain participants meet sustainability targets across the supply chain.

Frost Perspective

• Ingredient manufacturers are increasingly focusing on collaborating with companies that offer digital tools and technologies to revolutionize feed production and management and enhance efficiency and sustainability.

Scope of Analysis

• The research focuses on assessing growth opportunities for the animal feed ingredient industry. It includes the micronutrients and processing aids necessary to make compound feed or nutrient premix products (nutrient concentrates or supplements) for animals.
• The study's geographic scope is global and includes the following regions:
  • North America: The United States and Canada
  • Europe: European Economic Area and European Trade Association states, including the United Kingdom
  • Asia-Pacific (APAC): China, Japan, and the rest of APAC, including India, Australia, New Zealand, South Korea, Association of Southeast Asian Nations countries (Indonesia, Thailand, Singapore, Malaysia, and the Philippines), and South Asian countries (Pakistan, Bangladesh, Sri Lanka, and Nepal)
  • Latin America (LATAM) and the Middle East and Africa (LAMEA): All LATAM countries, including Mexico; and Africa and all Middle Eastern countries, including Turkey
• The study analyzes the animal feed ingredient industry based on ingredient type, application, and region.
• By application: Poultry, swine, ruminant, and aquaculture
• The report provides a spotlight on the insect protein industry in a separate chapter.

Segmentation by Ingredient Type

Animal Feed Ingredients

• Amino Acids
  • L-Lysine
  • DL-Methionine
  • L-Threonine
  • L-Tryptophan
  • L-Valine
• Vitamins
  • Vitamin A
  • Vitamin D
  • Vitamin E
  • Vitamin B
  • Vitamin K3
• Organic Trace Minerals
  • Zinc
  • Iron
  • Copper
  • Manganese
  • Others
• Mycotoxin Binders
• Enzymes
  • Carbohydrase
  • Proteases
  • Phytases
• Organic Acids
  • Single Acids
  • Acid Blends
• Probiotics
• Others
  • Prebiotics
  • Omega-3 Fatty Acids
  • Antioxidants

Competitive Environment

Key Competitors

Amino Acid

• ADM
• Evonik Industries
• Kemin Industries, Inc.
• Ajinomoto Co., Inc.
• MEIHUA HOLDINGS GROUP CO., LTD.
• CJ Cheiljedang Corp.
• Ningxia Eppen Biotech Co., Ltd
• Adisseo
• Sumitomo Chemical Co., Ltd.
• Novus International, Inc.
• Balchem Corp.
• DAESANG Corporation
• Fufeng Group
• Henan Julong Biological Engineering Co., Ltd

Enzymes

• Kemin Industries, Inc.
• dsm-firmenich
• Novozymes
• BASF SE
• ADM
• Novus International, Inc.
• AB Vista
• Biorex Salatas Bros S.A.
• Adisseo
• VTR BIOTECH PTY LIMITED
• Huvepharma
• Kerry Inc.
• Camlin Fine Sciences Ltd
• Industrial Técnica Pecuaria, S.A.

Vitamins

• BASF SE
• dsm-firmenich
• ADM
• Adisseo
• Jiangxi Tianxin Pharmaceutical Co., Ltd.
• Hubei Guanjgi Pharmaceutical Co., Ltd.
• BTSA
• Biovet, S.A
• Camlin Fine Sciences Ltd.
• Balchem Corp.
• Jiangxi Tianxin Pharmaceutical Co., Ltd.

Organic Acid

• Kemin Industries, Inc.
• BASF SE
• Novus International, Inc.
• ADM
• Eastman Chemical Company
• Corbion
• dsm-firmenich
• Balchem Corp.
• Trouw Nutrition
• Cargill, Incorporated
• Jungbunzlauer Suisse AG
• Peterlabs Holdings Berhad
• Anpario plc.
• Adisseo
• Camlin Fine Sciences Ltd.
• Industrial Técnica Pecuaria, S.A.ADM

Organic Trace Minerals

• Adisseo
• ADM
• Kemin Industries, Inc.
• Novus International, Inc.
• Trouw Nutrition
• Zinpro®
• Alltech
• Balchem Corp.

Probiotics

• Evonik Industries

• Ningxia Eppen Biotech Co., Ltd
• Adisseo
• Kemin Industries, Inc.
• dsm-firmenich
• AB Vista
• Novosenis
• Lallemand Inc.
• Biochem
• Organica Biotech Pvt. Ltd.
• Camlin Fine Sciences Ltd.
• Zinpro®
• Alltech

Mycotoxin Management Additives

• Adisseo
• Kemin Industries, Inc.
• dsm-firmenich
• Perstorp
• ADM
• Alltech
• Trouw Nutrition
• Camlin Fine Sciences Ltd.
• Biovet, S.A
• Devenish Nutrition Ltd

Others

• Veramaris (JV of dsm-firmenich and Evonik Industries)
• ADM
• Beneo
• Camlin Fine Sciences Ltd.
• Oxiris Chemicals S.A.
• Industrial Técnica Pecuaria, S.A.
• VDH Chem Tech Pvt. Ltd.
• Kemin Industries, Inc.
• Cargill, Incorporated
• Corbion