Animal Feed Micronutrient Market Emerging Growth Analysis, Future Demand, Opportunities and Forecast 2022-2028
The global Animal Feed Micronutrient Market was valued at USD 1.65 billion in 2021 and is expected to reach USD 2.48 billion by the year 2028, at a CAGR of 6%.
Micronutrients are nutrients that must be present in animal feed in trace amounts for an organism to develop properly. The availability of micronutrients is necessary for the nutrients to operate properly in the body. Micronutrients are also added to animal feed to promote feed quality and enhance livestock health. The micronutrients improve the performance of the enzyme system and provide various functions for synthesis. Additionally, the capacity of micronutrients in animal feed to increase animal weight, particularly in swine, is likely to contribute to a healthy perspective for industry growth.
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The increase in the production of complex feed on a global scale is what is driving the market for animal feed micronutrients. Since the majority of feed is produced in industrialized nations like North America and Europe, it qualifies as higher-quality feed with adequate micronutrient absorption. In the anticipated time frame, this is expected to increase demand for animal feed micronutrients. Additionally, a number of agribusinesses have chosen to use animal feed micronutrients due to the awareness of the ethical treatment of animals and the rising demand for ethical meat products.
In the following years, it is projected that increased meat exports, fast urbanization, and market growth would all be maintained. Additionally, the market would benefit greatly from innovations adopted by the top major players working in the animal feed micronutrients sector. Furthermore, it is anticipated that the market would have development prospects in the coming years due to the expanding feed industry in developing countries like South Africa, India, and China as well as the expansion of market players in these regions.
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Based on the Product Type, iron micronutrient is projected to account for the largest market share owing to the high prevalence of anemia in domestic animals is anticipated to boost the demand for iron-based micronutrients over the different regions. The growing government investment in livestock farming is also anticipated to have a positive impact on demand in upcoming years.
Based on Livestock, ruminant and poultry dominate the market share due to growing demand for the same from farm owners. Additionally, increasing milk and milk products and meat consumption coupled with a significant shift towards poultry food is expected to complement the growth of the market.
Asia Pacific region dominates the animal feed micronutrient market during the forecast period. In the region some major factors responsible for the growth of the market such as high populations of cattle and poultry business, increasing demand for meat and meat products, milk and milk products from high populated countries such as India and China, boosted commercial extension and expanding requirements for meat protein are helps to grow the market. North America and Europe are anticipated to project fair growth over the forecast period. The US is the largest market for animal feed micronutrients in the North America region and Germany and France in the Europe region.
Brazil accounted for the largest share of the market in Central & Latin America. The animal feed industry in Brazil has been observing constant growth and remained unaffected by the economic situation in the country. The growth of the broiler production considerably in 2015 on account of risen consumer preference toward poultry as compared to beef.
• APAC (Japan, China, South Korea, Australia, India, and Rest of APAC)
• Europe (Germany, UK, France, Spain, Italy, Russia, Rest of Europe)
• North America (U.S., Canada, and Mexico)
• South America (Brazil, Chile, Argentina, Rest of South America)
• MEA (Saudi Arabia, UAE, South Africa)
Players Covered in Animal Feed Micronutrient Market are:
• Nutreco N.V.
• Balchem Corporation
• BASF SE
• Novus International Inc.
• Purina Animal Nutrition LLC.
• AG Solutions
• Beachport Corporation Pvt Ltd
• Zinpro Corporation
• Bluestar Adisseo Company
• Prathista Industries Ltd
• Dallas Keith Limited
• Archer Daniels Midland Company
• Koninklijke DSM N.V.
• Alltech Inc
• Kemin Industries
• Lallemand Inc. and other major players.
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Chapter 1: Introduction
1.1 Research Objectives
1.2 Research Methodology
1.3 Research Process
1.4 Scope and Coverage
1.4.1 Market Definition
1.4.2 Key Questions Answered
1.5 Market Segmentation
Chapter 2: Executive Summary
Chapter 3: Growth Opportunities By Segment
3.1 By Product Type
3.2 By Livestock
Chapter 4: Market Landscape
4.1 Porter's Five Forces Analysis
4.1.1 Bargaining Power of Supplier
4.1.2 Threat of New Entrants
4.1.3 Threat of Substitutes
4.1.4 Competitive Rivalry
4.1.5 Bargaining Power Among Buyers
4.2 Industry Value Chain Analysis
4.3 Market Dynamics
4.4 Pestle Analysis
4.5 Technological Roadmap
4.6 Regulatory Landscape
4.7 SWOT Analysis
4.8 Price Trend Analysis
4.9 Patent Analysis
4.10 Analysis of the Impact of Covid-19
4.10.1 Impact on the Overall Market
4.10.2 Impact on the Supply Chain
4.10.3 Impact on the Key Manufacturers
4.10.4 Impact on the Pricing
Chapter 5: Animal Feed micronutrient Market by Product Type
5.1 Animal Feed micronutrient Market Overview Snapshot and Growth Engine
5.2 Animal Feed micronutrient Market Overview
5.3.1 Introduction and Market Overview
5.3.2 Historic and Forecasted Market Size (2016-2028F)
5.3.3 Key Market Trends, Growth Factors and Opportunities
5.3.4 Zinc: Geographic Segmentation
5.4.1 Introduction and Market Overview
5.4.2 Historic and Forecasted Market Size (2016-2028F)
5.4.3 Key Market Trends, Growth Factors and Opportunities
5.4.4 Iron: Geographic Segmentation
5.5.1 Introduction and Market Overview
5.5.2 Historic and Forecasted Market Size (2016-2028F)
5.5.3 Key Market Trends, Growth Factors and Opportunities
5.5.4 Manganese: Geographic Segmentation
5.6.1 Introduction and Market Overview
5.6.2 Historic and Forecasted Market Size (2016-2028F)
5.6.3 Key Market Trends, Growth Factors and Opportunities
5.6.4 Copper: Geographic Segmentation
5.7.1 Introduction and Market Overview
5.7.2 Historic and Forecasted Market Size (2016-2028F)
5.7.3 Key Market Trends, Growth Factors and Opportunities
5.7.4 Others: Geographic Segmentation
To Be Continue.
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Key Questions Answered in the Report: -
• What is the estimated growth rate of the market in the course of the forecast period?
• Which segment holds the major share in the expansion of the industry?
• Which region can be the most prominent contributor to market expansion in the coming years?
• What strategies are applied by the leading companies to set a stronghold in the global market?
• What are the areas of a major investment by the players in the market?
• What are the restraining factors for the growth of the market in a specific sector?
• What are the latest government policies fuelling the growth of the Animal Feed Micronutrients Market?
• How market is being affected by macroeconomic shifts in a particular region?
• Which technological advancements will bring innovation to the worldwide market?
• Which end-user market segment will dominate the Animal Feed Micronutrients?
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