Animal Feed Micronutrient Market Size to Reach USD 2.71 Million By 2030 | CAGR: 6.4%

Animal feed micronutrient contains boron, chlorine, manganese, iron, zinc, copper, molybdenum, nickel, silicon, and sodium. The animal needs a micronutrient for metabolic activities and to increase the body's immunity power. Micronutrients are essential animal food substances for better growth, health, and milk yield of the animal, which is inadequate to gain from the conventional method.

Most people are consuming healthy animal feed micronutrient products to improve animals' immunity after the outbreak of COVID-19. It is expected to have an affirmative impact on the profitable growth of the Animal feed micronutrient market. The utilization of meat and dairy products is increasing rapidly worldwide. India leads the world in milk production with 22 percent, followed by the USA, Pakistan, China, and Brazil.

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Animal Feed Micronutrient Market: Growth Drivers
The rising usage of meat and dairy products is rapidly boosting the Animal feed micronutrient market. The governments of several countries are come up with subsidies for dairy and poultry farmers. And are launching schemes to increase the production of these sectors, thereby accelerating the sales of animal feed micronutrients. It is expected that the beneficial government policies and initiatives would positively impact the growth of the animal feed micronutrient market.

The rise-up in government investment in livestock farming is expected to affect the market over the forecast period positively. Further, the benefits, like the growth of skeletal, optimal health, immunity, etc., are related to using micronutrients. Because of these factors, it is anticipated that the micronutrient industry will grow rapidly.
Animal Feed Micronutrient Market: Report Segmentation
Insight by Nutrient Type
The iron market segment is estimated to gather the largest revenue share in the animal feed micronutrient industry. The high prevalence of anemia among domestic animals is anticipated to stimulate the demand for iron-based micronutrients covering several regions. Lack of iron anemia in cats and dogs generally develops due to persistent external blood loss and does not manifest until tissue iron stores have been exhausted.

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Insight by End-Use
The poultry segment is expected to surpass the year 2027. The integration of chicken and eggs has expanded in recent years, and the trend is likely to grow in upcoming years. According to reports, net egg production in Canada has increased by 2.1 percent. Micronutrients are highly crucial for the growth of layers and broilers.
Geographic Overview: Animal Feed Micronutrient Market

The Asia Pacific is evaluated to record the highest revenue share. The leading growth prediction to notice is the Asia-Pacific region, in which China is predicted to be the market leader. China produced over 45 million metric tons of pork in 2021 and was the world's leading pork producer. According to the National Dairy Development Board, the cow population in India was 192.5 million in 2020.
The prediction also states that the North American market is expected to grow at a high CAGR. Millions of animals are adopted from shelters in the United States each year, according to the ACSPA. As per results, spending on animal care and animal feed micronutrient is rising.

Key Players
The leading players operating in the global market include Alltech Inc., Archer Daniels, Aries Agro, Cargill, Kemin Industries, Muyuan Foods, Nisshin Seifun, Novus International, Nutreco NV, Phibro Animal Health, Royal Dsm, Sico Fertilizers, Virbac, Wen's Foodstuff, Zinpro Corp and others.
Recent Developments
Marel purchased Wenger Manufacturing, a pet food product, plant-based protein, & aqua feed equipment manufacturer, in April 2022.
In March 2022, Jiangxi Zhengbang announced selling eight animal feed units to Beijing Dabeinong.

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Animal Feed Micronutrient Market: By Nutrient Type Outlook
• Iron
• Copper
• Zinc
• Boron
• Manganese
• Other Nutrients

Animal Feed Micronutrient Market: By End Use Outlook
• Ruminant
• Poultry
• Swine
• Aqua
• Equine
• Others

Animal Feed Micronutrient Market: By Region Outlook
• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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This release was published on openPR.