The Global Animal Feed Micronutrients Market is projected to reach USD 2.37 billion by 2028, at a CAGR of 6.5% between 2018 and 2028. According to Quince Market Insights, the increasing demand for animal products is one of the factors influencing the demand for animal feed micronutrients market during the forecast period. The report provides a detailed analysis of emerging market trends, market size, and forecasting, detailed overview of major companies operating in the market, impact factors influencing the market, etc.
Animal Feed Micronutrients Market Overview:
The animal feed micronutrients market is one of the established markets in the animal nutrition industry. They are used to add nutritional value to animal food such as ruminant, swine, aqua, poultry, and equine, among others. Major types include iron, manganese, zinc, boron, copper, etc. Some of the major factors influencing the growth of the market are increasing regulations on animal products, growing population, and growing demand for animal products. These factors are expected to drive the demand for animal feed micronutrients during the forecast period.
Increasing demand for animal products
Countries in developing regions such as the Asia Pacific, the Middle East, and South America have witnessed economic growth in the past few decades. The rising demand for animal products across all regions and regulations are some of the key factors driving the growth of the animal feed micronutrients market. Based on type, the animal feed micronutrients market is segmented into iron, manganese, zinc, boron, copper, and others. Some of the major application areas of these micronutrients are ruminant, swine, aqua, poultry, equine, and others. Ruminant among these application segments is expected to lead the market with high demand across regions.
Asia Pacific is expected to witness high demand during the forecast period
The Asia Pacific is the fastest-growing market for animal feed micronutrients, owing to high demand from rapidly growing economies such as China, India, South Korea, etc. China is the largest market for animal feed micronutrients in Asia due to a large population base, high economic growth, and increasing domestic demand for meat protein. The meat production industry in China will witness constant growth, and pork meat and poultry meat will be the largest segments in the market.
Major companies manufacturing animal feed micronutrients such as Archer Danieks Midland Company, Ballchem Corp, Kemin Industries, Cargill Inc., and Nutreco N.V., among others have been profiled in the study to provide a competitive view about the market.
Animal Feed Micronutrients Market Scope:
Detailed scope covering all the major segments in the market
In line data validations to ensure data precision
Market recommendations supporting decision making processes
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