Increased Spending on Animal Health Creating Revenue Streams for Feed Micronutrients
The global feed micronutrients market is estimated to grow at a healthy CAGR of over 6% during the forecast period (2019-2027) and reach a valuation of over US$ 2.5 Bn on the back of growing focus on sustainability of animal nutrition products in developed as well as developing regions. During the last few years, the global market for animal feed micronutrients has undergone a major transition in terms of quality control and demand.
Increasing emphasis on farm animal immunity along with evolving flavor variants is expected to create remunerative incremental opportunities in the feed micronutrients sector.
Over the last decade, the total population has increased dramatically across key areas, leading to increased consumption of poultry, meat, milk and dairy products.
Growing demand for meat and dairy products is projected to grow steadily over the forecast period, which is expected to give demand for feed micronutrients an uptick. The major factors driving the growth of the global market for feed micronutrients includes the growing livestock production and increasing per capita income.
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Increasing Emphasis on Vitamins Drives Productivity
During the forecast period, the vitamins segment is expected to grow at a healthy CAGR of 6.5%. Demand is expected to increase the need for vitamins to boost immunity, metabolism weight, and reproductive efficiency in animals.
The increasing demand for antioxidants in feed micronutrients will further proliferate the overall size of the feed micronutrient industry.
Amplifying demand for quality meat, increasing concerns around health and disease outbreaks in livestock are likely to boost the rate of adoption of the product.
In addition, factors such as increased demand for dairy products and heightened interest in pet ownership and performance of feed micronutrients would play a pivotal role for growth in the segment.
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Market in APAC to See Rapid Growth, Manufacturers’ Cashing in on Demand for Meat Protein
Asia Pacific is expected to grow rapidly with a CAGR of over 8.5% during the forecast period on the back of growing demand for feed micronutrients. Market growth can be attributed to factors such as massive population base, increased economic growth, and increased meat protein demand.
Demand for meat-based food products is being witnessed across major economies such as China, India and Japan. The growing demand for feed micronutrients in the agricultural sector is motivated by the rising awareness of sophisticated methods of animal husbandry and the reduction of livestock production schedules. The surge in food supply in feed micronutrients is also profoundly triggered by the growing population worldwide, where dairy and poultry products are increasingly in need.
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Mergers& Acquisitions to be Intuitive Tools for Competitive Advantages
The global feed micronutrients market is moderately consolidated with few multinational conglomerates such as Tanke Biosciences Corporation, Vamso Biotec Pvt. Ltd., Archer Daniels Midland and Pancosma SA occupying the largest shares. Emerging players on the market for feed micronutrients face various constraints, such as increased regulations, higher production costs and low consumer awareness.
In September, 2018, Micronutrients USA and Kemin Industries partnered to introduce “IntelliBond VITAL”, the world's first nutrition package to support the well-being and performance of dairy and beef cattle, containing six essential trace minerals.
Key players involved in the feed micronutrients market are rigorously investing in the development and launches of new products to gain a competitive advantage and expand their consumer base. Mergers & acquisitions along with diversification of product portfolios are key business strategies implemented by participants in the feed micronutrients industry.
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Global Feed Micronutrients Market: In-Depth Assessment on Key Segments
The global feed micronutrients market is segmented on the basis of product type, livestock and region.
This taxonomy and the detailed ToC prepared are confidential and intended exclusively for the individual or entity with whom it is being shared. Reading, disseminating, distributing, or copying this to any party other than addressee(s) is unauthorized and prohibited.
Global Feed Micronutrients Market - Scope Of The Report
The following report provides forecast and analysis of the global feed micronutrients market along with the historical data of 2013, estimated data 2019 and forecast data up to 2027 in terms of revenue (US$ Mn) and volume (Kilo Tons), according to a Fact.MR study.
The research propounds critical trends that are currently influencing growth within the global feed micronutrients market along with several macro-economic indicators. This newly published and insightful report on feed micronutrients sheds light on key dynamics, and their impact on the overall value chain from suppliers to end-users, which are expected to transform the future of the global feed micronutrients market.
The report also comprises the study of current issues with end users and opportunities for feed micronutrients. It also contains value chain analysis, including the key market participants. To provide users of this report with a comprehensive view of the market, we have included a detailed competitive analysis about the key players involved in the market and strategic overviews.
The dashboard included in the report provides a detailed comparison of feed micronutrients manufacturers on parameters such as total revenue, product offerings, and key strategies. A list of key companies operating in the feed micronutrients market provided in the report adds to the credibility of this exhaustive research study.
Country-specific assessment on demand for feed micronutrients has been provided for each regional market, along with the market size valuation and forecast price point assessment, price index and impact analysis of key regional and country-wise dynamics, which were obtained through quotes from numerous feed micronutrients manufacturers, experts, and suppliers.
Y-o-Y growth projections have also been offered on all regional markets incorporated in the report. Moreover, future trends, growth prospects, and other possibilities related to the market have been answered in the report.
The report provides company-level market share analysis, which has been derived on the basis of the company’s annual sales and segmental revenue in all the target end-use industries. The market has been forecasted based on constant currency rates.
The report provides detailed competitive and company profiles of key participants operating in the global feed micronutrients market. Some of the major competitors operating in the feed micronutrients market are Zinpro Corporation, Tanke Biosciences Corporation, Vamso Biotec Pvt. Ltd., Archer Daniels Midland, Pancosma SA., and others.
Global Feed Micronutrients Market: Research Methodology
A number of primary and secondary sources were consulted during the course of the study. Secondary sources include Factiva, Morningstar and Hoovers, and company annual reports and publications.
Comprehensive interviews have been conducted by our analysts, and the intelligence and insights obtained have been used for validating the information gained through secondary research.
The report also includes a description of assumptions and acronyms utilized for research purposes. Data gathered has been validated using the triangulation method to offer useful quantitative and qualitative insights into the feed micronutrients market.
A short market viewpoint offered in the report elucidates the macro-economic aspects that influence the growth of the feed micronutrients market, which includes global GDP growth rate, various industries growth rate, such as animal husbandry and animal feed.
This report serves as an authentic resource of intelligence on the feed micronutrients market, enabling the readers to take fact-based decisions on the future direction of their businesses.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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