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.
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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Table of Contents
CHAPTER 1: INTRODUCTION1.1. Report description
1.2. Key market segments
1.3. Key benefits to the stakeholders
1.4. Research Methodology
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
2.1. Key findings of the study
2.2. CXO Perspective
CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top investment pockets
3.3. Porter’s five forces analysis
3.4. Market dynamics
3.4.1. Drivers
3.4.2. Restraints
3.4.3. Opportunities
3.5. COVID-19 Impact Analysis on the market
3.6. Regulatory Guidelines
3.7. Value Chain Analysis
3.8. Market Share Analysis
3.9. Key Regulation Analysis
3.10. Patent Landscape
CHAPTER 4: ANIMAL FEED MICRONUTRIENTS MARKET, BY PRODUCTS
4.1 Overview
4.1.1 Market size and forecast
4.2. Trace Minerals
4.2.1 Key market trends, growth factors and opportunities
4.2.2 Market size and forecast, by region
4.2.3 Market share analysis by country
4.3. Vitamins
4.3.1 Key market trends, growth factors and opportunities
4.3.2 Market size and forecast, by region
4.3.3 Market share analysis by country
4.4. Others
4.4.1 Key market trends, growth factors and opportunities
4.4.2 Market size and forecast, by region
4.4.3 Market share analysis by country
CHAPTER 5: ANIMAL FEED MICRONUTRIENTS MARKET, BY LIVESTOCK
5.1 Overview
5.1.1 Market size and forecast
5.2. Poultry
5.2.1 Key market trends, growth factors and opportunities
5.2.2 Market size and forecast, by region
5.2.3 Market share analysis by country
5.3. Ruminant
5.3.1 Key market trends, growth factors and opportunities
5.3.2 Market size and forecast, by region
5.3.3 Market share analysis by country
5.4. Aquaculture
5.4.1 Key market trends, growth factors and opportunities
5.4.2 Market size and forecast, by region
5.4.3 Market share analysis by country
5.5. Swine
5.5.1 Key market trends, growth factors and opportunities
5.5.2 Market size and forecast, by region
5.5.3 Market share analysis by country
5.6. Equine
5.6.1 Key market trends, growth factors and opportunities
5.6.2 Market size and forecast, by region
5.6.3 Market share analysis by country
CHAPTER 6: ANIMAL FEED MICRONUTRIENTS MARKET, BY REGION
6.1 Overview
6.1.1 Market size and forecast
6.2 North America
6.2.1 Key trends and opportunities
6.2.2 North America Market size and forecast, by Products
6.2.3 North America Market size and forecast, by Livestock
6.2.4 North America Market size and forecast, by country
6.2.4.1 U. S.
6.2.4.1.1 Key market trends, growth factors and opportunities
6.2.4.1.2 Market size and forecast, by Products
6.2.4.1.3 Market size and forecast, by Livestock
6.2.4.2 Canada
6.2.4.2.1 Key market trends, growth factors and opportunities
6.2.4.2.2 Market size and forecast, by Products
6.2.4.2.3 Market size and forecast, by Livestock
6.2.4.3 Mexico
6.2.4.3.1 Key market trends, growth factors and opportunities
6.2.4.3.2 Market size and forecast, by Products
6.2.4.3.3 Market size and forecast, by Livestock
6.3 Europe
6.3.1 Key trends and opportunities
6.3.2 Europe Market size and forecast, by Products
6.3.3 Europe Market size and forecast, by Livestock
6.3.4 Europe Market size and forecast, by country
6.3.4.1 Germany
6.3.4.1.1 Key market trends, growth factors and opportunities
6.3.4.1.2 Market size and forecast, by Products
6.3.4.1.3 Market size and forecast, by Livestock
6.3.4.2 United Kingdom
6.3.4.2.1 Key market trends, growth factors and opportunities
6.3.4.2.2 Market size and forecast, by Products
6.3.4.2.3 Market size and forecast, by Livestock
6.3.4.3 France
6.3.4.3.1 Key market trends, growth factors and opportunities
6.3.4.3.2 Market size and forecast, by Products
6.3.4.3.3 Market size and forecast, by Livestock
6.3.4.4 Spain
6.3.4.4.1 Key market trends, growth factors and opportunities
6.3.4.4.2 Market size and forecast, by Products
6.3.4.4.3 Market size and forecast, by Livestock
6.3.4.5 Italy
6.3.4.5.1 Key market trends, growth factors and opportunities
6.3.4.5.2 Market size and forecast, by Products
6.3.4.5.3 Market size and forecast, by Livestock
6.3.4.6 Rest of Europe
6.3.4.6.1 Key market trends, growth factors and opportunities
6.3.4.6.2 Market size and forecast, by Products
6.3.4.6.3 Market size and forecast, by Livestock
6.4 Asia-Pacific
6.4.1 Key trends and opportunities
6.4.2 Asia-Pacific Market size and forecast, by Products
6.4.3 Asia-Pacific Market size and forecast, by Livestock
6.4.4 Asia-Pacific Market size and forecast, by country
6.4.4.1 China
6.4.4.1.1 Key market trends, growth factors and opportunities
6.4.4.1.2 Market size and forecast, by Products
6.4.4.1.3 Market size and forecast, by Livestock
6.4.4.2 Japan
6.4.4.2.1 Key market trends, growth factors and opportunities
6.4.4.2.2 Market size and forecast, by Products
6.4.4.2.3 Market size and forecast, by Livestock
6.4.4.3 India
6.4.4.3.1 Key market trends, growth factors and opportunities
6.4.4.3.2 Market size and forecast, by Products
6.4.4.3.3 Market size and forecast, by Livestock
6.4.4.4 South Korea
6.4.4.4.1 Key market trends, growth factors and opportunities
6.4.4.4.2 Market size and forecast, by Products
6.4.4.4.3 Market size and forecast, by Livestock
6.4.4.5 Australia
6.4.4.5.1 Key market trends, growth factors and opportunities
6.4.4.5.2 Market size and forecast, by Products
6.4.4.5.3 Market size and forecast, by Livestock
6.4.4.6 Rest of Asia-Pacific
6.4.4.6.1 Key market trends, growth factors and opportunities
6.4.4.6.2 Market size and forecast, by Products
6.4.4.6.3 Market size and forecast, by Livestock
6.5 LAMEA
6.5.1 Key trends and opportunities
6.5.2 LAMEA Market size and forecast, by Products
6.5.3 LAMEA Market size and forecast, by Livestock
6.5.4 LAMEA Market size and forecast, by country
6.5.4.1 Brazil
6.5.4.1.1 Key market trends, growth factors and opportunities
6.5.4.1.2 Market size and forecast, by Products
6.5.4.1.3 Market size and forecast, by Livestock
6.5.4.2 Saudi Arabia
6.5.4.2.1 Key market trends, growth factors and opportunities
6.5.4.2.2 Market size and forecast, by Products
6.5.4.2.3 Market size and forecast, by Livestock
6.5.4.3 United Arab Emirates
6.5.4.3.1 Key market trends, growth factors and opportunities
6.5.4.3.2 Market size and forecast, by Products
6.5.4.3.3 Market size and forecast, by Livestock
6.5.4.4 South Africa
6.5.4.4.1 Key market trends, growth factors and opportunities
6.5.4.4.2 Market size and forecast, by Products
6.5.4.4.3 Market size and forecast, by Livestock
6.5.4.5 Rest Of Lamea
6.5.4.5.1 Key market trends, growth factors and opportunities
6.5.4.5.2 Market size and forecast, by Products
6.5.4.5.3 Market size and forecast, by Livestock
CHAPTER 7: COMPETITIVE LANDSCAPE
7.1. Introduction
7.2. Top winning strategies
7.3. Product Mapping of Top 10 Players
7.4. Competitive Dashboard
7.5. Competitive Heatmap
7.6. Top player positioning, 2021
CHAPTER 8: COMPANY PROFILES
8.1 NOVUS INTERNATIONAL
8.1.1 Company overview
8.1.2 Key Executives
8.1.3 Company snapshot
8.1.4 Operating business segments
8.1.5 Product portfolio
8.1.6 Business performance
8.1.7 Key strategic moves and developments
8.2 Alltech.
8.2.1 Company overview
8.2.2 Key Executives
8.2.3 Company snapshot
8.2.4 Operating business segments
8.2.5 Product portfolio
8.2.6 Business performance
8.2.7 Key strategic moves and developments
8.3 Cargill, Incorporated.
8.3.1 Company overview
8.3.2 Key Executives
8.3.3 Company snapshot
8.3.4 Operating business segments
8.3.5 Product portfolio
8.3.6 Business performance
8.3.7 Key strategic moves and developments
8.4 NUTRECO N. V
8.4.1 Company overview
8.4.2 Key Executives
8.4.3 Company snapshot
8.4.4 Operating business segments
8.4.5 Product portfolio
8.4.6 Business performance
8.4.7 Key strategic moves and developments
8.5 ADM
8.5.1 Company overview
8.5.2 Key Executives
8.5.3 Company snapshot
8.5.4 Operating business segments
8.5.5 Product portfolio
8.5.6 Business performance
8.5.7 Key strategic moves and developments
8.6 BASF SE
8.6.1 Company overview
8.6.2 Key Executives
8.6.3 Company snapshot
8.6.4 Operating business segments
8.6.5 Product portfolio
8.6.6 Business performance
8.6.7 Key strategic moves and developments
8.7 Aries Agro Limited.
8.7.1 Company overview
8.7.2 Key Executives
8.7.3 Company snapshot
8.7.4 Operating business segments
8.7.5 Product portfolio
8.7.6 Business performance
8.7.7 Key strategic moves and developments
8.8 Kemin Industries, Inc.
8.8.1 Company overview
8.8.2 Key Executives
8.8.3 Company snapshot
8.8.4 Operating business segments
8.8.5 Product portfolio
8.8.6 Business performance
8.8.7 Key strategic moves and developments
8.9 Lallemand Inc.
8.9.1 Company overview
8.9.2 Key Executives
8.9.3 Company snapshot
8.9.4 Operating business segments
8.9.5 Product portfolio
8.9.6 Business performance
8.9.7 Key strategic moves and developments
8.10 QualiTech
8.10.1 Company overview
8.10.2 Key Executives
8.10.3 Company snapshot
8.10.4 Operating business segments
8.10.5 Product portfolio
8.10.6 Business performance
8.10.7 Key strategic moves and developments
Executive Summary
According to this report, titled, 'Animal Feed Micronutrients Market ,' the animal feed micronutrients market size was valued at $1.7 billion in 2021, and is estimated to reach $3.3 billion by 2031, growing at a CAGR of 7% from 2022 to 2031.The nutrients needed in trace amounts by an organism are called as micronutrients. Micronutrient is also important in animal feed. They are commonly used to increase feed consistency and to boost overall animal health. Dairy and poultry products are in higher demand as a result of the population's rapid growth. People are becoming more aware regarding the moral production of animal products, which has ultimately increased demand for high-quality animal feed nutrients.
Like humans, livestock animals also need a balanced diet containing all the necessary nutrients, fluids, minerals, and vitamins. As a result, more livestock producers and farmers are including micronutrients in animal feed as an essential component of the animal feeding program is a major factor estimated to boost the animal feed micronutrients market demand in the upcoming years.
However, the market is likely to be constrained by the farmers' lack of knowledge regarding presence of animal feed micronutrient products in the market and the advantages related to them. This factor is anticipated restrain the animal feed micronutrients market trends.
It is anticipated that rising meat consumption in developing nations like China, India, and Brazil will drive product demand worldwide. Australia, a significant exporter of pork, is anticipated to drive product demand during the projection period. Increasing utilization of dairy product is anticipated to be driven by an increase in the use of dairy products such cheese, butter, cream, and curd in the food and beverage industry.
Micronutrients in animal feed encourage high milk production, which is predicted to increase ruminant nutrition's use of milk over the projection period. Furthermore, the expansion of the animal husbandry sector in emerging economies is assisting the market growth. Market expansion is also supported by government initiatives that support the livestock industry and advance animal health in response to rising concerns regarding food security. These factors are anticipated to boost the animal feed micronutrients market growth in the upcoming years.
The global animal feed micronutrients market share is segmented based on product, livestock, and region. By product, it is classified into trace mineral, vitamins, and others. By livestock, it is classified into poultry, ruminant, aquaculture, swine, and equine. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Impact of COVID-19 on the Global Animal Feed Micronutrients Industry
Agriculture and food production are now acknowledged as important worldwide sectors as a result of the COVID-19 pandemic. In order to feed a rising number of consumers worldwide, farmers have continued to make efforts to provide farm animals with high-quality food.The disruption of the supply chain has emerged as the most important issue influencing the market for animal feed micronutrients. China is a major manufacturer and supplier of animal feed micronutrients, and during the COVID-19 crisis, while enterprises were closed for the Lunar New Year, it stored significant quantities of product, enough for 2-3 months' worth of supply.
Social distancing norms, closed borders, and production constraints, due to the pandemic, across various countries such as China, India, and the U.S. have affected the global market.
Key Findings of the Study
Based on product, the trace minerals sub-segment emerged as the global leader in 2021 and the vitamins sub-segment is anticipated to be the fastest growing sub-segment during the forecast periodBased on livestock, the poultry sub-segment emerged as the global leader in 2021 and the aquaculture sub-segment is predicted to show the fastest growth in the upcoming years
Based on region, the Asia-Pacific market registered the highest market share in 2021 and is projected to maintain the position during the forecast period
Companies Mentioned
- Novus International
- Alltech.
- Cargill, Incorporated.
- Nutreco N.V
- Adm
- BASF SE
- Aries Agro Limited.
- Kemin Industries, Inc.
- Lallemand Inc.
- Qualitech
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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