Feed Micronutrients Global Market Report 2024

The feed micronutrients market size has grown strongly in recent years. It will grow from $1.74 billion in 2023 to $1.86 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth witnessed in the historical period can be attributed to several factors. These include heightened demand for meat products, an uptick in livestock production, rising per capita income levels, an amplified need for vitamins to bolster immunity, and an increased demand for antioxidants within feed micronutrients.

The feed micronutrients market size is expected to see strong growth in the next few years. It will grow to $2.44 billion in 2028 at a compound annual growth rate (CAGR) of 7%. The projected growth in the forecast period can be attributed to several key factors. These include the increasing demand for dairy products, poultry products, and other related items, along with the rising demand for feed micronutrients by ruminants. Additionally, there is a noticeable consumer preference for poultry products, driving the demand for high-quality animal products. Moreover, the increasing awareness of the benefits of antioxidants in feed micronutrients further contributes to this growth trajectory. Significant trends expected during this period include the adoption of more sustainable practices, ongoing product innovation aimed at enhancing nutritional content, increased investment in animal welfare, a greater uptake of feed micronutrients, and heightened awareness regarding feed quality among consumers.

The feed micronutrient market is poised for growth, driven by the increasing demand for poultry products. Poultry products encompass various items sourced from domesticated birds such as chickens, turkeys, ducks, geese, and quails. This demand is fueled by their nutritional value, culinary versatility, and cultural significance. Feed micronutrients play a crucial role in poultry diets, ensuring optimal health, productivity, and product quality by providing essential nutrients for birds to thrive in diverse production environments. For instance, a report by the Food and Agriculture Organization of the United Nations (FAO) noted a 1% increase in global poultry meat output in 2023 compared to the previous year, alongside a 1.7% year-on-year increase in global ovine meat output, underscoring the impact of poultry product demand on the feed micronutrient market.

Key players in the feed micronutrient market are innovating to meet the demand for sustainable and effective animal nutrition solutions, with a focus on developing products such as organic-compliant chromium propionate feed ingredients. These supplements adhere to standards and regulations for organic farming. For example, Kemin Industries Inc. launched KemTRACE Chromium-OR in February 2021, designed for use in various animal diets to improve glucose utilization, alleviate stress effects, and enhance cellular energy and function, benefiting maintenance, reproduction, growth, and immunity across species.

In December 2023, The Archer-Daniels-Midland Company (ADM) acquired PT Trouw Nutrition Indonesia, a provider of innovative feed additive solutions for livestock farming in Indonesia, strengthening ADM's regional presence and enabling tailored services for customers in Indonesia and the broader Asia-Pacific region.

Major companies operating in the feed micronutrients market are Cargill Incorporated, Archer Daniels Midland Company, BASF SE, Tyson Foods Inc., Evonik Industries AG, Syngenta Group, Nutreco N.V., Alltech Inc., Lallemand Inc., Kemin Industries Inc., Godrej Agrovet Ltd., Phibro Animal Health Corporation, Ridley Inc., Purina Animal Nutrition LLC, Zinpro Corporation, Novus International Inc., Biochem GmbH, Pancosma SA., Pancosma S.A., Procare Solutions, Tanke Industry Group, QualiTech LLC, Mercer Milling Company Inc., Davidson Brothers (Shotts) Ltd.

Asia-Pacific was the largest region in the feed micronutrients market in 2023. North America is expected to be the fastest growing region in the market. The regions covered in the feed micronutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the feed micronutrients market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Feed micronutrients encompass vital vitamins and minerals incorporated into animal feed in minute quantities to bolster overall health, growth, and productivity. These micronutrients play pivotal roles in diverse physiological functions, including immune response, bone development, and energy metabolism.

The primary product categories of feed micronutrients comprise minerals, vitamins, carotenoids, and other essential nutrients. Minerals, for instance, are indispensable for various bodily functions such as bone formation, muscle contraction, and enzyme activity in animals. These minerals exist in various forms including non-chelated and chelated, catering to a range of livestock such as poultry, aquaculture, swine, equine, among others.

The feed micronutrients market research report is one of a series of new reports that provides feed micronutrients market statistics, including feed micronutrients industry global market size, regional shares, competitors with a feed micronutrients market share, detailed Feed micronutrients market segments, market trends, and opportunities, and any further data you may need to thrive in the feed micronutrients industry. This feed micronutrients market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The feed micronutrients market consists of sales of fat-soluble vitamins, water-soluble vitamins, macrominerals, trace minerals, premixes, concentrates, and additives. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.