Press release
Global Zinc Micronutrient For Animal Feed Market Size To Grow At A CAGR Of 4.36% In The Forecast Period Of 2023-2028
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter's Five Forces Models.
Zinc Micronutrient for Animal Feed Market Size, Share, Trends, Industry, Key Player, Report and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
• Historical Market Volume (2022): USD 64.214 KMT
• Forecast CAGR (2023-2028): 4.36%
The increasing emphasis on improving the quantity of trace elements in the diets of animal is driving the demand for zinc micronutrient for animal feed. Diseases such as skin parakeratosis, general debility, susceptibility to infection, and lethargy can be cause due to deficiency of zinc. Hence, the increasing awareness pertaining to the benefits of zinc, among both large-scale animal farmers and smaller farm owners is escalating the zinc micronutrient for animal feed market growth.
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Zinc micronutrients are witnessing a heightened demand owing to the increasing incorporation of eggs, milk, and meat in diets of people worldwide. Growing preference towards high-protein diets is increasing the demand for animal-based products, leading to a heightened demand for animal farming and healthy animals. Additionally, the growing demand for additives to animal diets, to improve metabolism, health, and overall performance, is further escalating the zinc micronutrient for animal feed market growth.
Over the forecast period, the anticipated increase in demand for poultry products, driven by the increasing inclination towards health and fitness, rising disposable income, and easy accessibility, is expected to garner the application of zinc micronutrients in animal feed in order to produce healthier poultry.
Zinc Micronutrient for Animal Feed Industry Definition and Major Segments
Zinc micronutrients are a type of additive used in animal feed to improve the zinc content in the diets of the animals. Consuming adequate zinc helps various species of animals to cultivate strength and growth among them. Zinc is a crucial mineral which plays a major role in an animal's body by enhancing the metabolism, protein synthesis, and immunity.
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Based on species, the market is segmented into:
• Ruminants
• Dairy
• Swine
• Poultry
• Equine
• Aqua
• Others
On the basis of region, the market is categorised into:
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa
Zinc Micronutrient for Animal Feed Market Trends
The key trends in the global zinc micronutrient for animal feed market include the growing research and development activities by the major animal feed producers aimed towards enhancing nutritional formulas for bolstered growth of animals. The thriving e-commerce sector across the emerging economies is likely to fuel the sales of clean-labelled animal feed products which in turn is likely to heighten the incorporation of zinc micronutrients in the forecast period.
The rising demand for dairy products such as milk, egg, yogurt, and ice-cream, among others, is expected to boost the demand for zinc micronutrient for animal feed used in dairy animals in order to maximise their output. Favourable policies of various governments working towards animal welfare are crucial trends in the zinc micronutrient for animal feed market.
In geographical terms, the Asia Pacific accounts for a significant share in the market, driven by the rising per capita consumption of dairy and meat in countries such as India and China. This factor is expected to propel the demand for zinc micronutrient for animal feed in the region.
Key Market Players
The major players in the global zinc micronutrient for animal feed market report are:
• Biochem Zusatzstoffe Handels- und Produktionsgesellschaft mbH
• Animine, S.A.S.U.
• Alltech Inc
• Novus International, Inc.
• Balchem Corporation
• Zinpro Corporation
• Norel SA
• Trouw Nutrition
• Others
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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