Transformative Trends Impacting the Feed Micronutrients Market Landscape: The Emergence Of Organic-Compliant Chromium Propionate Feed Ingredients

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How Large Will the Feed Micronutrients Market Size By 2025?
The market size for feed micronutrients has seen robust expansion in the recent past. The market size which stood at $1.86 billion in 2024 is projected to reach $1.99 billion in 2025, registering a compound annual growth rate (CAGR) of 7.1%. The surge in this period is due to escalating demand for meat products, heightened livestock production, the rise in per capita income and an elevated need for vitamins to enhance immunity. The market has also been boosted by an increased requirement for antioxidants in feed micronutrients.

How Big Is the Feed Micronutrients Market Size Expected to Grow by 2029?
The market size of feed micronutrients is projected to experience substantial growth in the coming years, expanding to $2.6 billion by 2029 with a compound annual growth rate (CAGR) of 7.0%. The surge in the anticipated timeframe can be linked to an increased demand for dairy, poultry, and other products, higher consumption preference toward poultry products, and the rising need for feed micronutrients by ruminants. There are several key trends to watch in the forecast period, including the adoption of sustainable practices, product innovation, creative strategies to boost the nutritional value, increased spending on animal welfare, the adoption of feed micronutrients, and a growing awareness of the importance of feed quality.

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Which Key Market Drivers Powering Feed Micronutrients Market Expansion and Growth?
The escalating need for products obtained from poultry is anticipated to fuel the expansion of the feed micronutrient market in the future. Poultry products are items procured from domesticated avians like chickens, turkeys, ducks, geese, and quails. Their high demand can be attributed to their nutritional benefits, culinary versatility, and cultural importance across several cultures. Feed micronutrients play a pivotal role in poultry diets, aiding in maintaining superior health, productivity, and quality of products, guaranteeing that the birds are supplied with all essential nutrients to prosper in varying production surroundings. For instance, as per a report by the Food and Agriculture Organization of the United Nations (FAO), a government association based in the US, in December 2023, the global output of poultry meat amounted to 142 million metric tons in 2023, marking a 1% growth in comparison to the preceding year. Similarly, 2023 witnessed a global ovine meat output of 17.0 million metric tons, denoting a year-after-year growth of 1.7%. Hence, the escalating need for products from poultry propels the expansion of the feed micronutrient market.

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Which Fast-Growing Trends Are Poised to Disrupt the Feed Micronutrients Market?
In the feed micronutrient market, leading corporations are emphasizing the conceptualization of novel products like organic-friendly chromium propionate feed components, aligning with the increased need for viable and efficient solutions for animal nutrition. This type of animal feed supplement corresponds to the criteria and rules applicable to organic agriculture. For example, Kemin Industries Inc., an American specialty ingredients company, publicized the FDA's endorsement of chromium propionate for inclusion in growing turkey diets in January 2024, symbolizing a noteworthy progression in animal nutrition. Consequently, not only turkeys but also swine, broiler chickens, cattle, and horses are permitted to utilize chromium propionate, more specifically, Kemin's KemTRACE Chromium.

What Are the Emerging Segments in the Feed Micronutrients Market?
The feed micronutrients market covered in this report is segmented -

1) By Product Type: Minerals, Vitamins, Carotenoids, Others Product Types
2) By Form Type: Non-Chelated, Chelated
3) By Livestock: Poultry, Aquaculture, Swine, Equine, Other Livestocks

Subsegments:
1) By Minerals: Trace Minerals, Macro Minerals, Chelated Minerals
2) By Vitamins: Fat-Soluble Vitamins, Water-Soluble Vitamins, Pro-Vitamins And Synthetic Vitamins
3) By Carotenoids: Beta-Carotene, Lutein, Zeaxanthin, Astaxanthin
4) By Other Product Types: Amino Acids, Antioxidants, Enzymes, Organic Micronutrients

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Who Are the Global Leaders in the Feed Micronutrients Market?
Major companies operating in the feed micronutrients market are Cargill Incorporated, Archer Daniels Midland Company, BASF SE, Tyson Foods Inc., Evonik Industries AG, Syngenta Group, Nutreco N.V., Alltech Inc., Lallemand Inc., Kemin Industries Inc., Godrej Agrovet Ltd., Phibro Animal Health Corporation, Ridley Inc., Purina Animal Nutrition LLC, Zinpro Corporation, Novus International Inc., Biochem GmbH, Pancosma SA., Pancosma S.A., Procare Solutions, Tanke Industry Group, QualiTech LLC, Mercer Milling Company Inc., Davidson Brothers (Shotts) Ltd.

Which are the Top Profitable Regional Markets for the Feed Micronutrients Industry?
Asia-Pacific was the largest region in the feed micronutrients market in 2023. North America is expected to be the fastest growing region in the market. The regions covered in the feed micronutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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