Feed Micronutrients Market Shares, Top Competitor, Growth Factors, Revenue, COVID-19 Impact On Industry

Micronutrients such as vitamins and minerals are necessary for the functioning of the immune system, production of energy, bone health, fluid balance and overall growth; albeit they are required in smaller amounts. There has been a soaring demand for animal protein in recent times. With growing consumer awareness, breeders are prompted to offer animals the best possible environment that will increase the quality of the raw materials obtained from them and their overall productivity.

Consumers are looking for the highest food quality along with characteristics that promote health. Therefore, food should have a fine balance of fatty acids and micronutrients. Supplementing feed with these ingredients enriches the food in an effective manner.

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Driven by such a broad range of factors, the feed micronutrients market is anticipated to register a value of USD 2 billion by the end of 2025.
Expanding poultry industry to bolster the consumption of feed micronutrients
Micronutrients are included in different co-enzymes, enzymes, co-factors, etc. They are added for optimizing reproduction, growth rate, immunity, and reproduction of the birds. The overall performance of the birds is primarily decided by the amount of ultra-trace elements present in water. Also, some feeds and soils are deficient in minerals like cobalt, molybdenum and chromium. But with the supplementation of micronutrients in bird feeds is said to improve their overall performance.

There has been a significant rise in the demand for poultry from across the world. To support this statement with an instance, China had the highest volume of poultry consumption of 20 million tons in 2019, while the U.S and Brazil had 19 million tons and 12 million tons respectively. Poultry birds are primarily fed with rye, wheat, barley, cotton seeds, sunflower seeds, peanut, soybean.

With such a substantial rise in demand for meat, the volume of poultry feed required will naturally increase. Subsequently, in order to maintain the quality of this increased poultry feed, the production of micronutrients will increase in the coming years.

Growing ruminant population to spur the utilization of feed micronutrients over the coming years
With increased demand for ruminant-derived meat, especially the smaller ones like lambs, there has been a significant rise in the domestication of ruminant animals in recent times.

Feed takes up most of the cost associated with ruminant raising. Numerically speaking, it accounts for over 60% of the total production costs. This is crucial because maintaining optimum nutrition of these animals will help in acquiring a high-quality final product or by-products.

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Small ruminants like lambs need protein, energy, minerals, vitamins water and fiber. Excesses, imbalances or deficiencies can inhibit animal performance resulting in various health problems. They require minerals like phosphorous, salt and calcium and vitamins E, D and A. All vitamin B types, and vitamin K are produced in the rumen. With such a rising ruminant population, the demand for feed micronutrients will increase over the coming years.

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This release was published on openPR.