In global market, the production of animal nutrition increased from 28.3 million MT in 2013 to 32.8 million MT in 2017. In 2016, global feed production has exceeded 1000 million MT. China is the world's largest feed market. The global animal nutrition market is led by Europe, holding about 29% of global animal nutrition production share. China is the second-largest region-wise market with 25% global production share. At present, the major leader manufacturers of animal nutrition are concentrated in China and Europe. Evonik is the world leader, only holding 3.82% production market share in 2017. But, Evonik hold 7.19% global revenue market share. In addition, Adisseo, Novus International, CJ Group, DSM, Meihua Group and Alltech are also the main market leader. The global animal nutrition market is valued at USD 53.79 billion in 2017 and is expected to reach USD 70.22 billion by the end of 2024, growing at a Growth Rate of 3.88% between 2017 and 2024.
China was one of the largest regional market for feed additives, with revenue exceeding USD 12.2 billion in 2017. It is further expected still to grow due to downstream demand. In the past time, the global feed market has maintained a more stable growth rate. Africa, Europe, Latin America have maintained a rapid growth rate. The North American market is stagnant. In the foreseeable future, the growth of this industry mainly comes from the growth of these areas.
In application, animal nutrition downstream is wide and recently animal nutrition has acquired increasing significance in various fields of poultry feeds, ruminant feeds, pig feeds and other feeds. Globally, the animal nutrition market is mainly driven by growing demand for poultry feeds which held nearly 46% of total downstream consumption of animal nutrition.
In the future, global market is expected to witness stable growth on account of rising applications, so in the next few years, animal nutrition production will show a trend of steady growth. In 2024, the production of animal nutrition is estimated to be 39.4 million MT. Demand for most downstream is greatly influenced by general economic conditions. As a result, demand for animal nutrition largely follows the patterns of the leading world economies.