The global feed micronutrients market is estimated to grow at a healthy CAGR of over 6% during the forecast period (2019-2027) and reach a valuation of over US$ 2.5 Bn on the back of growing focus on sustainability of animal nutrition products in developed as well as developing regions. During the last few years, the global market for animal feed micronutrients has undergone a major transition in terms of quality control and demand.
Growing demand for meat and dairy products is projected to grow steadily over the forecast period, which is expected to give demand for feed micronutrients an uptick. The major factors driving the growth of the global market for feed micronutrients includes the growing livestock production and increasing per capita income.
For more insights into the Market, Request a Sample of this Report:
Feed Micronutrients Market: Key Takeaways:
- The growing trend toward clean label products that require regulatory certification is expanding the product variety for feed micronutrients.
- The vitamins category is expected to increase at a CAGR of around 6.5 percent over the forecast period. Vitamins are needed to promote metabolism, immunity, and reproductive health, which is driving sales of feed micronutrients.
- The poultry sector accounted for more than 40% of the worldwide feed micronutrients market. Rapid expansion of poultry product production facilities would broaden the product portfolio, notably in European countries such as Germany, the United Kingdom, France, and Russia.
- APAC accounts for more than a third of the global feed micronutrients market. Consumption of meat and meat-related goods is increasing in rising economies such as Indonesia, India, China, and Japan, which is boosting growth. APAC’s commercial outlook is also brightening thanks to substantial expansion in the animal feed industry.
“Growing bioavailability of micronutrients is paving the path for the feed micronutrients market to see significant gains and generate lucrative roadmaps during the projected period,” Fact.MR Study
The global feed micronutrients market is moderately consolidated with few multinational conglomerates such as Tanke Biosciences Corporation, Vamso Biotec Pvt. Ltd., Archer Daniels Midland and Pancosma SA occupying the largest shares. Emerging players on the market for feed micronutrients face various constraints, such as increased regulations, higher production costs and low consumer awareness.
In September, 2018, Micronutrients USA and Kemin Industries partnered to introduce “IntelliBond VITAL”, the world’s first nutrition package to support the well-being and performance of dairy and beef cattle, containing six essential trace minerals.
Global Feed Micronutrients Market: In-Depth Assessment on Key Segments:
The global feed micronutrients market is segmented on the basis of product type, livestock and region.
· By Product Type:
- Others (Fatty Acids, Essential Nutrients)
· By Livestock :
· By Region :
- North America
- Latin America
For in-depth competitive analysis, Buy Now:
Questionnaire answered in the Market outlook Report of Feed Micronutrients include:
US Sales Office :
11140 Rockville Pike
Rockville, MD 20852
Tel: +1 (628) 251-1583