Ocean View, Delaware , Oct. 24, 2017 (GLOBE NEWSWIRE) --
Non-Protein Nitrogen in Feed Market is set to surpass USD 1 billion by 2024; according to a new research report by Global Market Insights, Inc. Positive applications outlook in fodder industry owing to easy availability and cost effectiveness of forage sources will drive non-protein nitrogen in feed market. Increasing meat and dairy products demand will positively influence market penetration.
As per FAO, in developing geographies, consumption of meat is growing at over 5% annually, and milk & dairy products increasing over 3.5% in past few years. Upsurge in cattle population, R&D in animal fodder ingredients along with cost effective digestive formulas will triggering the industry growth.
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Improved processing in major fodder additives including vitamins, emulsifiers, and enzymes are among the key factors driving product demand. Rising preference to maintain animal health increased expenditure on fodder with appropriate protein content has positively enhanced non-protein nitrogen in feed industry demand.
Urea accounted for over 75% of the overall non-protein nitrogen in feed market share in 2016. Ease in availability and low cost in comparison to natural protein sources is driving urea demand in NPN feed industry. Improving the efficacy of dietary nitrogen consumption and minimization of nitrogen defecation in urine and its environmental impacts will drive the overall growth of the market. Threat of toxicity among cattle along with stringent regulatory norms pertaining to production residual may hamper market growth.
Browse key industry insights spread across 350 pages with 288 market data tables & 11 figures & charts from the report Non-Protein Nitrogen in Feed Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/non-protein-nitrogen-in-feed-market
Dry non-protein nitrogen in feed market will hold a major market share of over 72% by 2024, presence of amount of high sulfur and protein content are key benefits driving demand. Other key offerings including high efficiency and improve digestibility.
Liquid form generated over USD 175 million revenue in 2016. Increased advantages including lower farm labor input, dustiness, wastage, and overall shrink has significantly resulted in the product demand. Properties displayed by liquid form of achieving very high mixing homogeneity will augment the industry growth.
Ruminant accounted for over 70% of the demand in 2016, lenient governmental regulations for urea consumption among ruminants supported growth. High dependency of rural population on livestock for their income has stimulated non-protein nitrogen in feed demand. Rising disease outbreak among animals has further raise the need as it increases the immunity driving the overall growth.
APAC was valued over USD 400 million in 2016. Acceptance of urea in fodder specifically for ruminants is growing in India, China, and Japan. The regional market is growing due to investments from numerous multinational producers and upsurge in awareness regarding usage of forage, especially in countries including China and India.
North America non-protein nitrogen in feed market is set to observe more than 3.5% CAGR through to 2024. Key factors driving the regional industry growth includes increasing consumer demand for high protein meat and dairy along with presence multiple sales platform has maximized market growth in the region.
Global industry share is consolidated owing to presence few international players in the market. Some of the key players include Archer Daniels Midland Company, Potash Corporation of Saskatchewan, Yara International ASA, Quality Liquid, Borealis, and Incitec Pivot. Augmented focus on product innovation and research & development is the key factor for the industry’s success.
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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
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