Animal Feed Micronutrients Market By Products (Trace Minerals, Vitamins, Others), By Livestock (Poultry, Ruminant, Aquaculture, Swine, Equine): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global animal feed micronutrient market is envisioned to garner $3,272.40 million by 2031, growing from $1,671.40 million in 2021 at a CAGR of 7.0% from 2022 to 2031.
Increasing demand of organic meat among people, globally, is expected to boost the animal feed micronutrient market growth in the forecast time period. Concerns about meat safety have spurred demand for premium micronutrients in animal feed. The increasing awareness among farm owners about the importance of maintaining a healthy animal-based diet is another factor fueling the rise of the animal feed micronutrient industry. As a result, they are moving away from conventional animal feed micronutrients and toward premium and functional alternatives that increase the animals' resistance to enzootic diseases while reducing their risk of metabolic problems, acidosis, wounds, and infections.
Additionally, a rise in demand for organic meat among customers in industrialized nations, the adoption of novel animal-rearing techniques, and the maintenance of high farming standards have all contributed to the industry's bright outlook.
The higher prices for vitamins and vitamin products in the animal feed micronutrients market have been a barrier for the market, particularly in developed countries where the agricultural community is less developed and investing a significant amount in animal feed micronutrients has been difficult. This factor is expected to hinder the market growth.
The market for animal feed micronutrients is steadily expanding as a result of rising worries about animal health and the incidence of diseases like beriberi and scurvy that are brought on by nutritional deficiencies, globally. The increasing reliance of the world's population on animal products, such as eggs, milk, meat, and others, is driving up the demand for micronutrients in animal feed. Micronutrients are essential for improving animal health. The rise of the animal feed micronutrient market trend is being aided by the growth of the animal husbandry industry in emerging nations. Additionally, government programs that assist the livestock industry and promote animal health in response to increasing worries about food security are fostering animal feed micronutrient market demand.
The global proliferation of COVID-19 is a dangerous condition. The epidemic has a significant impact on the world economy. This deadly virus has a significant impact on the food and beverage agricultural industry. The closure of international ports and eateries all over the world has an impact on the animal feed sector as well. Market conditions for animal feed micronutrient are greatly impacted by supply chain disruption. Similar other initiatives are projected to relieve the market of the difficulties faced during the pandemic.
The key players profiled in this report include Nutreco, ADM, Balchem Inc., Kemin Industries Inc., Qualitech Inc., Zinpro Corp., Lallemand Inc., NOVUS INTERNATIONAL, Cargill Inc., and Alltech Inc.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the animal feed micronutrients market analysis from 2021 to 2031 to identify the prevailing animal feed micronutrients market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the animal feed micronutrients market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global animal feed micronutrients market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Products
Trace Minerals
Vitamins
Others
By Livestock
Poultry
Ruminant
Aquaculture
Swine
Equine
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
United Kingdom
France
Spain
Italy
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Australia
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
United Arab Emirates
South Africa
Rest Of Lamea
Key Market Players
NOVUS INTERNATIONAL
Alltech.
Cargill, Incorporated.
NUTRECO N.V
ADM
BASF SE
Aries Agro Limited.
Kemin Industries, Inc.
Lallemand Inc.
QualiTech
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