Animal Feed Micronutrients Market Forecasts to 2028 – Global Analysis By Product (Trace Minerals and Vitamins), Livestock (Poultry, Ruminant, Swine, Aquaculture and Others), and By Geography

Animal Feed Micronutrients Market Forecasts to 2028 – Global Analysis By Product (Trace Minerals and Vitamins), Livestock (Poultry, Ruminant, Swine, Aquaculture and Others), and By Geography

According to Stratistics MRC, the Global Animal Feed Micronutrients Market is accounted for $1.85 billion in 2022 and is expected to reach $3.10 billion by 2028 growing at a CAGR of 9% during the forecast period. The animal micronutrients are the trace elements typically refers to substances that are comparatively rare and occur in low concentrations in the dry matter of animal and living things. Micronutrients are essential for maintaining human and animal health in addition to being essential for greater agricultural output. They are necessary for the diet of animals to improve their general health as well as for the production of milk, meat, and eggs. The fact that a lack of micronutrients in an animal's diet can result in stunted growth and decreased output demonstrates the importance of micronutrients which are driving the market growth.

According to European Union, crucial step by that was taken by revising and decreasing the amount of maximum permitted levels (MPLs) of zinc and copper from the animal feed. The EU took the decision in order to reduce the environmental impacts caused due to the presence of Zn in the diet of animals.

Market Dynamics:

Driver:

Increasing consumption of dairy and meat products

Growing demand for dairy products, poultry products, and other animal-derived goods is a driving factor that is expected to boost the development of the global feed micronutrients market during the course of the forecast years. The adoption of modern animal husbandry practices both in developed and developing nations; along with growing expenditure on livestock breeding and farming are predicted to increase the size of the worldwide feed micronutrient market. Moreover, it is predicted that in the upcoming years, the market would have growth opportunities due to the growing livestock industry in developing countries such as India, and China as well as an increase in the number of market players in these regions are accelerating the growth of the market.

Restraint:

Use of metals in the feed micronutrients

The accumulation of minerals like zinc and copper in animal feed may cause soil pollution, which has a negative impact on the environment and may indicate poor the growth of the global feed micronutrients market. Additionally, people's changing dietary preferences and their strict religious beliefs, which prohibit people from following a particular diet, are driving them to adopt vegan or plant foods, which are hindering the growth of the market.

Opportunity:

Increase in the demand for organic meat

The concerns about meat safety have spurred demand for superior micronutrients in animal feed. The increasing awareness among farm owners of the importance of maintaining a healthy animal-based diet is another factor fuelling 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 industrialised nations, the adoption of innovative animal-rearing techniques, and the maintenance of high farming standards have all contributed to the growth of the market.

Threat:

Increasing number of restrictions and regulatory bans

Rising number of regulations and bans would serve as market barriers for the expansion of animal feed micronutrients. The market for animal feed micronutrients will face additional challenges due to lower product awareness throughout the forecast period. Moreover, many individuals are avoiding chicken products due to an enormous increase in bird flu cases, which may impede the market's expansion and governments are re-imposing travel restrictions due to an increase in instances thereby hampering the growth of the market.

Covid-19 Impact

During the COVID-19 emergency, agriculture and food production have been highlighted as significant worldwide sectors. So, in order to feed a growing number of consumers worldwide, farmers have continued to make sure that farm animals receive high-quality nourishment. However, the disruption to the supply chain is now what has the biggest impact on the market for animal feed micronutrients. Additionally, the supply chain of containers and vessels as well as the transportation of some of the micro-ingredients have been limited by logistical problems thus Covid 19 has show both positive as well as negative impact on the market.

The Trace Minerals segment is expected to be the largest during the forecast period

The Trace Minerals segment is estimated to have a lucrative growth, due to their key role in the animal organism's system of nutrient circulation in several metabolic, enzymatic, and biochemical processes in poultry, trace minerals and micro minerals are crucial. They play a part in the animal organism's system of nutrient circulation as well. Critical micronutrient deficiencies could lead to deficient illnesses, poor development, reduced egg production, and poor feed efficiency. Trace elements include arsenic, boron, cadmium, chromium, cobalt, fluorine, molybdenum, selenium, and many other minerals. Unexpected differences in the concentrations of these ultra-trace elements in the water may contribute to unspecified variances in the performance of birds in farms with the same hybrid, feed, micro environment, and management which are driving the animal feed micronutrients market.

The Poultry segment is expected to have the highest CAGR during the forecast period

The Poultry segment is anticipated to witness the fastest CAGR growth during the forecast period; due to their vital role in the overall development of the layers and broilers These facilitate superior reproduction, health, and overall performance of the birds, which are expected to drive the market growth. Micronutrients for poultry feed are projected to be in more demand as poultry farming grows. As their momentum increases, supporters of natural growth are anticipated to be active in the market. The market's demand has been fuelled by growing consumer knowledge of the advantages of employing feed additives to reduced disease.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the production and consumption with around half of the world's output going to pork. Due to the widespread consumption of hog meat, the global region has the greatest market for animal feed micronutrient supplements. The world's greatest producer and exporter of pork is Southeast Asia. Pork is the most popular meat in the area and has been consumed there since ancient times due to its high fat content and flavour. Following China as the largest market for pork exports are Vietnam, Thailand, South Korea, Japan, and the Philippines which are encouraging in the growth of the animal feed micronutrients market.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to changing dietary habits of people Prominent European nations such as France, Spain and Germany are also anticipated to contribute to the market growth of the feed micronutrients market. In addition, it is anticipated that greater government activities by European governments to promote animal health by providing them with correct nutritional care will benefit the health of the animals and ultimately have a favourable impact on the feed nutrition market in the near future projecting to the growth of the market.

Key players in the market

Some of the key players profiled in the Animal Feed Micronutrients Market include Nutreco, ADM, Balchem Inc, Qualitech Inc, Zinpro Corp , Lallemand, NOVUS INTERNATIONAL, Cargill Inc, Alltech Inc., Ridley, Kemin Industries, Phibro Animal Health Pancosma, Royal DSM, Aries Agro Limited and BASF SE.

Key Developments:

In Jan 2023, Nutreco and BiomEdit announce a ground-breaking, long-term strategic research and commercial partnership to bring livestock producers innovative and truly novel feed additives developed through microbiome technology. The partnership aligns Nutreco Exploration (NutEx), Nutreco’s team tasked with developing proprietary ultra-specialty ingredients to promote its purpose of Feeding the Future, with animal health’s most advanced microbiome biotech company, BiomEdit.

In Nov 2022, Nutreco announces the acquisition of Mosegården, one of the leading independent livestock nutrition suppliers in Denmark focusing on minerals and animal health products for pigs and cattle. The company entered into this purchase agreement after the tragic death of Mosegården’s founder and CEO since 1998, Knud Erik Jensen, which occurred at the end of last year.

In Oct 2022, Nutreco and its parent company SHV are partnering with FoodTechAfrica and African Parks on an initiative to promote sustainable aquaculture in Africa. In addition to financial investments, Nutreco and SHV will contribute their deep knowledge and experience in creating sustainable ways to feed the future, while also driving forward conservation-led economies.

Products Covered:
• Trace Minerals
• Vitamins
• Others Products

Livestock’s Covered:
• Poultry
• Ruminant
• Swine
• Aquaculture
• Other Livestocks

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements