North America Non-Protein Nitrogen in Feed Market to observe growth of over 4% by 2024
Jul 16, 2019
Dry formulation segment of Non-Protein Nitrogen in Feed Market is projected to surpass 2.5 million tons by 2024 owing to exceptional thermal stability during fodder processing operations and improved ease of handling.
Selbyville, United States - July 16, 2019 /MarketersMedia/ —
North America non-protein nitrogen in feed market will observe 3.5% CAGR up to 2024. Increasing consumer consciousness regarding higher protein diets coupled with better affordability due to growth in disposable incomes will drive industry growth. Additionally, higher availability of dairy products through numerous channels has further augmented product demand.
Asia Pacific non-protein nitrogen in feed market was worth around USD 350 million in 2016. Favorable socio-economic policies in China, India and Japan has propelled industry. Development of innovative technology for effective protein synthesis from non-protein sources in several Asian countries has led to wide spread product usage. Rising cattle population in region is further contributing to industry growth.
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Urea was worth over USD 600 million in 2016. Factors such as improved intake of dry roughage, reduced live weight loss and high nitrogen content are supporting product demand. Furthermore, increasing application of urea as a building block for non-protein production through numerous rumen microbes will propel industry growth. Less expensive substitute source of protein will further add to product's demand.
Swine will witness gains over 3% up to 2024. Positive results amongst swine in terms of enhanced health & increased nutrients intake is a significant factor fueling non-protein nitrogen in feed market demand. Rising pork consumption in Russia, Canada, Poland and Japan will support demand.
Dry formulation is projected to surpass 2.5 million tons by 2024. Exceptional thermal stability during fodder processing operations and improved ease of handling are major factors supporting product penetration. Ease of availability in powdered and pellet grades will drive product sales. Moreover, high sulphur and protein content resulted in enhanced demand for dry form products in supplementary nourishments.
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Increasing preference to provide nutrient diet to animals is expected to propel non-protein nitrogen in feed market growth. Increasing livestock diseases penetration coupled with growing necessity for safe nourishment practices will support product demand. As per FAO, animal fodder production was estimated to hold 11% share for calves & cattle, 23% for sheep and 6.6% for pigs in 2017.
Increasing health consciousness along with growing population has driven meat consumption. According to OECD, average global meat consumption is 75 pounds per person. Shifting consumer preferences for ready to eat processed meat will further facilitate non-protein nitrogen in feed market growth.
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New production techniques to cut down overall production cost will influence non-protein nitrogen in feed market price trend. In addition, companies are expected to invest in R&D activities, thus developing proteins with specific characteristics. However, strict government protocols concerning animal fodder and toxicity in ruminants may hamper industry growth.
Global non-protein nitrogen in feed market share is moderately fragmented due to large presence of several local and multinational industry players. Borealis, Incitec Pivot, Potash Corporation of Saskatchewan, Yara International and Archer Daniels Midland Company are key industry participants.
Contact Info:
Name: Arun Hegde
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Organization: Global Market Insights Inc.
Website: https://www.gminsights.com/industry-analysis/non-protein-nitrogen-in-feed-market
Source: MarketersMedia
Release ID: 88896947
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