Feed Micronutrients Market Size By Product (Trace Minerals [Iron, Zinc, Manganese, Copper, Boron], Vitamins [Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin K, Vitamin E, Carotenoids]), By Livestock (Poultry, Ruminant, Aquaculture, Swine, Equine) COVI

Feed Micronutrients Market Size By Product (Trace Minerals [Iron, Zinc, Manganese, Copper, Boron], Vitamins [Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin K, Vitamin E, Carotenoids]), By Livestock (Poultry, Ruminant, Aquaculture, Swine, Equine) COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Price Trends, Competitive Landscape & Forecast, 2023 - 2032

Global Feed Micronutrients Market is anticipated to grow considerably by 2032, given the growing cognizance around healthy livestock. Feed micronutrients are essential in animal diet to offer resistance against diseases and improve the overall health.

Besides, increasing malnutrition amongst animals is projected to push the demand for feed micronutrients. In addition, the rising demand for meat & milk products globally will also positively influence the market landscape. Micronutrients are crucial for increasing feed consistency and boosting overall animal health.

Key providers operating in the feed micronutrients industry are incorporating strategic projects such as alliances, mergers and acquisitions, R&D investments, and new product launches to gain a competitive edge in the market. To cite an instance, in 2021, ADM, a global leader in nutrition and agricultural origination and processing, completed its purchase of Deerland Probiotics & Enzymes to meet fast-growing feed micronutrient demand from consumers.

Overall, the global feed micronutrient industry is segmented in terms of product, livestock, and region.

Based on the product, the vitamin segment is anticipated to amass notable gains through the coming years. Vitamins are crucial supplements added to animal feeds in little amount to support the general development, health, and performance of the livestock. Vitamin deficiency can have a negative impact on an animal's health and result in a variety of illnesses. Besides, the historic belief that vitamin supplements are required in animal feeds for all types of livestock, will help the segment to grow.

By livestock, the ruminant segment is anticipated to depict 5.5% CAGR through 2032. Ruminant health and production are vital for a sustainable animal production system, which is expected to positively influence the segment expansion. Besides, with the growing demand for animal products from developing nations, the key players in ruminant production now have the opportunity to reevaluate the strategic use of nutrition for promoting ruminant health and production.

Regionally, the Europe global feed micronutrients industry will register strong growth during 2023-2032. The regional market growth will be due to the increasing development of the poultry, cattle, and aquaculture industries, coupled with the rising adoption of healthier lifestyles, elevated consumer health awareness, and public understanding of dietary health.

In addition, Europe is one of the most preferred tourist destinations, consisting of more restaurants, hotels, and other establishments that use nutrient-rich meat, dairy, and poultry products. As the bilateral ties between European nations and other areas are anticipated to strengthen, the tourism sector will also expand, which is further projected to boost product demand throughout the estimated timeframe.