Analysis of Feed Micronutrients market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
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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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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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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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.
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.
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The global feed micronutrients market is estimated to grow at a healthy CAGR of over 6% during the forecast period (2022-2027) and reach a valuation of over US$ 2.5 Bn.
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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