Nigeria Animal Feed Additive Market (2023-2029) | Share, Forecast, Trends, Revenue, Segmentation, Value, Analysis, Growth, Size, Industry, Outlook & COVID-19 IMPACT

Nigeria Animal Feed Additive Market | Country-Wise Share and Competition Analysis

In the year 2021, Germany was the largest exporter in terms of value, followed by the UK. It has registered a decline of -41.13% over the previous year. While the UK registered a decline of -22.63% as compared to the previous year. In the year 2017, the Netherlands was the largest exporter followed by Germany. In terms of the Herfindahl Index, which measures the competitiveness of countries exporting, Nigeria has a Herfindahl index of 958 in 2017 which signifies high competitiveness also in 2021 it registered a Herfindahl index of  746 which signifies high competitiveness in the market.

Nigeria Animal Feed Additive Market - Export Market Opportunities

Topics Covered In Nigeria Animal Feed Additive Market Report

Nigeria Animal Feed Additive Market report thoroughly covers the market by additive types, by livestock, by form, and by function. The market outlook report provides an unbiased and detailed analysis of the ongoing market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Nigeria Animal Feed Additive Market Synopsis

Nigeria Animal Feed Additive Market is likely to grow in the forecast year. The popularity of processed and packaged food and the rising demand for cost-effective and nutritious feed is driving the growth of the market. There is also a significant increase in demand for livestock products by the population of the country. The increasing population and rising income levels are fuelling the growth of the market.

According to 6Wresearch, Nigeria Animal Feed Additive Market size is anticipated to grow during 2023 -2029. The market is growing rapidly due to changing consumer preferences and the government's initiatives to enhance livestock production. The demand for animal feed additives is increasing due to their numerous benefits. There is better health for animals who consume the feeds. The government is also investing in the agriculture sector to increase awareness about animal nutrition.  Digestibility of the feed ingredient, palatability, and improved nutrition can be attributed to the growth of the market. There are various key players present in the market and they should capitalize on these opportunities to cater to the needs of the consumers of Nigeria. There are certain challenges faced by the Nigeria Animal Feed Additive Industry. The strict regulatory framework by the government is restraining the growth of the market.  The high cost of raw materials is another challenge in the market.

COVID-19 Impact on Nigeria Animal Feed Additive Market

The COVID-19 pandemic has had a major impact on Animal Feed Additive Market In Nigeria. Due to lockdown measures and limited transportation, there was a supply chain disruption. There were delayed deliveries of the raw materials, required for the production of the animal feed additives. There was less demand for meat and poultry products due to the economic slowdown. It was difficult for the sales representatives to visit the farms and meet the farmers due to social distancing measures. The business gradually became slow as customer relation plays a vital role in the industry and this led to a decline in the growth of the Africa Animal Feed Additive Market.

Nigeria Animal Feed Additive Market: Key players

These are the notable players in the market. These companies have a significant share in the market and they provide a wide range of animal feed additives to improve the quality of livestock and which has led to an increase in Nigeria Animal Feed Additive Market Growth

• Neovia
• Olam International
• DSM
• Cargill
• BASF
• Alltech
• Adisseo
• Ajinomoto Animal Nutrition Africa
• Biochemix Global Resources Ltd
• Animart Nigeria Ltd

Market by Additives Type

On the basis of additives type, the market is segmented into Amino Acids, Antioxidants, Feed Enzymes, Feed Acidifiers, Vitamins, Minerals, Antibiotics, and Others. All segments will witness growth due to the rising need for healthy livestock.

Market by Livestock

On the basis of Livestock, the  Nigeria Animal Feed Additive Industry  is segmented into Swine, Ruminants, Poultry, Aquatic Animals, and Others. All the segments will dominate the market due to the emerging need for healthy and productive livestock.

Market by Form

On the basis of form, the market is divided into Dry, Liquid, and Others. Dry and liquid forms will dominate the market on the back end of the increasing need for nutritional value for different types of livestock.

Market by Function

According to Dhaval, Research Manager, 6Wresearch, on the basis of function, the market is segmented into Single Function and Multifunction. Both the segment will dominate the market due to the importance of animal livestock nutrition.

Key attractiveness of the report

• COVID-19 Impact on the Market.
• 10 Years Market Numbers.
• Historical Data Starting from 2019 to 2022.
• Base Year: 2022.
• Forecast Data until 2029.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Nigeria Animal Feed Additive Market Outlook
• Market Size of Nigeria Animal Feed Additive Market, 2022
• Forecast of Nigeria Animal Feed Additive Market, 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Revenues & Volume for the Period 2019 - 2029
• Nigeria Animal Feed Additive Market Trend Evolution
• Nigeria Animal Feed Additive Market Drivers and Challenges
• Nigeria Animal Feed Additive Price Trends
• Nigeria Animal Feed Additive Porter's Five Forces
• Nigeria Animal Feed Additive Industry Life Cycle
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Additive Type for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Amino acids for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Antioxidants for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Feed enzymes for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Feed acidifiers for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Vitamins for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Minerals for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Antibiotics for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Amino acids Animal Feed Additive Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Livestock for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Swine for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Ruminants for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Poultry for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Aquatic Animals for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Form for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Dry for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Liquid for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Others for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Function for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Single Function for the Period 2019 - 2029
• Historical Data and Forecast of Nigeria Animal Feed Additive Market Revenues & Volume By Multifunction for the Period 2019 - 2029
• Nigeria Animal Feed Additive Import Export Trade Statistics
• Market Opportunity Assessment By Additive Type
• Market Opportunity Assessment By Livestock
• Market Opportunity Assessment By Form
• Market Opportunity Assessment By Function
• Nigeria Animal Feed Additive Top Companies Market Share
• Nigeria Animal Feed Additive Competitive Benchmarking By Technical and Operational Parameters
• Nigeria Animal Feed Additive Company Profiles
• Nigeria Animal Feed Additive Key Strategic Recommendations

Market Covered

The report offers a comprehensive study of the subsequent market segments:

By Additive Type

• Amino Acids
• Antioxidants
• Feed Enzymes
• Feed Acidifiers
• Vitamins
• Minerals
• Others

By Livestock

• Swine
• Ruminants
• Poultry
• Aquatic Animals
• Others

By Form

• Dry
• Liquid
• Others

By Function

• Single Function
• Multifunction