Animal Feed Micronutrients Market

Animal Feed Micronutrients Market is valued at USD 1.89 billion in 2021 and is expected to reach USD 2.9 billion in 2028, growing at a CAGR of 6.30% from 2021 to 2028.

Animal Feed Micronutrients Market applies the most effective of each primary and secondary analysis to weighs upon the competitive landscape and also the outstanding market players expected to dominate Animal Feed Micronutrients Market place for the forecast 2020– 2025

As per the ACSPA, almost 3.2 million shelter animals are adopted in the US annually. Moreover, as per the American Pet Products Association, almost 85 million cats and 78 million dogs are owned in the US. This has called for a rise in spending on animal care paired with the success of animal feed micronutrients in fertility and growth in the animals has displayed a positive impact on the market growth.

Scope of The Report:

Animal feed micronutrients are essential animal feed supplements employed extensively for improving the quality of feed to power the yield and general animal health. Demand of animal feed micronutrients is rising as it powers the performance and has broad applications such as growth promoter, prevention and cure of diseases, for improving feed digestibility in animals, and for powering reproduction pace. Due to the rising globalization and urbanization, there has been a huge alteration in lifestyles of the users. To fulfill the daily need of nutrients so as to maintain their brisk lifestyle, the users have increased significantly the nutrient usage. This has created a huge requirement for meat and dairy goods all over the world, resulting in an elevation in the requirement for micronutrients in the animal feed.

The global animal feed micronutrients market can be divided by livestock, type, and geography. The type segment of the global market is sub-divided into zinc, iron, manganese, and copper. The livestock segment of the animal feed micronutrients market is segmented into ruminant, poultry, equine, swine, and aqua. Area wise, the global animal feed micronutrients market is segmented into Europe, North America, Latin America, Asia Pacific, and the Middle East and Africa.

Animal Feed Micronutrients Manufacturers:

The major players included in the global animal feed micronutrients market forecast are,

• Lallemand Inc.
• Cargill Inc.
• Alltech Inc.
• Archer Daniels Midland Company
• Novus International Inc
• Balchem Corp.
• Nutreco N.V.
• Kemin Industries Inc.
• Qualitech Inc.
• Zinpro Corporation.

 

 

Animal Feed Micronutrients Market Key Segments:

By Product Type: Iron, Manganese, Zinc, Boron, Copper, Others

By Application Type: Ruminant, Poultry, Swine, Aqua, Equine, Others

Increasing Requirement For Protein Food Owing To Nutritional Deficiencies Is One Of The Major Factors Powering The Growth Of The Market Currently

Increasing requirement for protein food owing to nutritional deficiencies is one of the major factors powering the growth of the market currently. Rising pet adoption is another major factor powering the growth of the animal feed micronutrients market. As per the ACSPA, almost 3.2 million shelter animals are adopted in the US annually. Moreover, as per the American Pet Products Association, almost 85 million cats and 78 million dogs are owned in the US. This has called for a rise in spending on animal care paired with the success of animal feed micronutrients in fertility and growth in the animals has displayed a positive impact on the market growth. In addition to this, rising requirement of animal protein from milk and meat producing cattle paired with the recent disease epidemic in cattle is one more key factor powering the requirement for animal feed micronutrients market, all over the world.

Asia Pacific Is Predicted To Develop At A Quick Pace In The Animal Feed Micronutrients Market In The Coming Future

Asia Pacific is predicted to develop at a quick pace in the animal feed micronutrients market in the coming future. The development of the market can be credited to factors such as increased economic growth, huge population base, and increasing demand for meat protein. North America is predicted to see above average development in the coming period due to the rising demand for meat. Latin America is predicted to develop remarkably in the animal feed micronutrients market owing to increasing requirement for protein-rich food together with the increase in population.

Market by Regional Analysis

North America

• U.S.
• Canada

Europe

• Germany
• France
• U.K.
• Italy
• Spain
• Sweden
• Netherland
• Turkey
• Switzerland
• Belgium
• Rest of Europe

Asia-Pacific

• South Korea
• Japan
• China
• India
• Australia
• Philippines
• Singapore
• Malaysia
• Thailand
• Indonesia
• Rest Of APAC

Latin America

• Mexico
• Colombia
• Brazil
• Argentina
• Peru
• Rest of South America

Middle East and Africa

• Saudi Arabia
• UAE
• Egypt
• South Africa
• Rest Of MEA