Feed Micronutrients Market At A CAGR Of 6.40% During The Forecast Period Of 2022 To 2029

The animal feed micronutrients market was valued at 1503.29 million in 2021 and is expected to reach the value of USD 2469.31 million by 2029, at a CAGR of 6.40% during the forecast period of 2022 to 2029.

Increasing demand for meat, poultry, and dairy products, growing demand for quality food, and the increase in disposable incomes are some of the factors anticipated to foster market growth during the forecast period. The Global Animal Feed Micronutrients Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Market Overview:

Increasing demand for high-quality foods, meat, poultry, and dairy products, as well as rising disposable incomes, are some of the key market drivers. Cheese, milk, curd, and other dairy products are increasingly in demand from the food and beverage sector. These micronutrients aid ruminants in lactation, resulting in milk of greater quality, which in turn results in cheese, curd, etc. of superior quality. The demand for meat has expanded as a result of the expanding population and rising disposable income.

By ensuring that animals grow a healthy amount of weight, animal feed micronutrients improve yield quality and quantity. Utilizing these micronutrients eases the strain on the soil. The amount of grazing is decreased by using micronutrients in animal feed. As a result, it lessens land pressure and aids in the prevention of soil erosion. It is anticipated that the industry would expand because to the rising demand for ethical meat. However, it is projected that the market growth will be constrained by the widespread use of zinc and copper as well as international government regulations.

Animals such as livestock, agricultural animals, and aquatic creatures are fed nutritious foods with high levels of proteins, minerals, and vitamins known as animal feed micronutrients. It is largely used by domestic animals in the form of forage, fodder, hay, silage, pelleted feeds, oilseeds, and sprouted grains, among other things. Micronutrients in animal feed are an essential part of animal husbandry, and they differ depending on whether the animals are produced for milk, meat, or eggs.

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Global Feed Micronutrients Market: Segmentations

Global Feed Micronutrients Market: By Key Players
Cargill
ADM
Nutreco
Kemin
Lallemend Health
Alltech
Novus
QualiTech
Balchem
Zinpro
Gawrihar Bio-Chem
Novus International
Solufeed
Prathista
Mahafeed Speciality Fertilizers
Dayal Group

Global Feed Micronutrients Market: By Types
Trace Minerals
Vitamins

Global Feed Micronutrients Market: By Applications
Ruminant
Poultry
Aqua
Swine
Equine

Global Feed Micronutrients Market: Regional Analysis
The countries covered in the regional analysis of the Global Feed Micronutrients market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.

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The demand for the product will be greatly fueled by key advantages such as improved food absorption, weight gain, and improved overall animal health. Additionally, escalating worries about rising costs for maintaining animal health in the face of an uptick in disease outbreaks will support industry growth. The industry landscape will see new prospects as concern about major diseases including bovine spongiform encephalopathy, microbial contamination, and chronic disease caused by nutritional insufficiency in the feed increases. Additionally, the increased use of sophisticated animal husbandry techniques to enable shorter livestock and milk production cycles will increase the potential for product penetration.

Market expansion will also be fueled by a greater focus on animal health. The demand for micronutrients in animal feed is projected to rise as cow ranching becomes more prevalent. Need for animal-based goods will rise due to rising human demand. As their momentum increases, proponents of natural growth are anticipated to be active in the market. The market's demand has been fueled by growing consumer knowledge of the advantages of employing feed additives to minimize disease.

Reasons to Purchase this Report:
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions

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