Feed Micronutrients Market Size
Feed Micronutrients Market size exceeded USD 1.8 billion in 2022 and is projected to expand at more than 5.3% CAGR from 2023 to 2032.
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Expansive expansion in the animal feed market across rising nations including Brazil, Mexico, India, and China will present a good business environment to industry players. Low levels of essential components in animal fodder can cause cattle to consume less nutrients overall. Farmers and breeders are thus improving general cattle health and welfare by utilizing feed additives and micronutrients, hence countering this.
Start-ups and new businesses are bringing creative ideas to enhance animal feed product nutritional value. For example, Loopworm, a startup in insect biotechnology, secured $3.4 million in August 2022 to support R&D operations as well as build its first factory to increase the output of animal feed high in proteins and micronutrients.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Feed Micronutrients Market Size in 2022 | 1.8 Billion (USD) |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 5.3% |
| 2032 Value Projection | 3 Billion (USD) |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 300 |
| Tables, Charts & Figures | 429 |
| Segments covered | Product, Livestock, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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What are the growth opportunities in this market?
Higher expenditures related to the development of feed micronutrients and their negative environmental effects could limit sector expansion. These products' inclusion of copper and zinc might help to poll the soil. Furthermore, growing needs for animal products and limited supply of feed raw materials could somewhat impede the expansion of the worldwide feed micronutrients sector.
Feed Micronutrients Market Size Analysis
Learn more about the key segments shaping this market
Between 2023 and 2032, feed micronutrient market size from the sector of trace minerals is expected to show over 6% increase rate. Efforts to enhance the health of cattle have driven demand for animal feed components including vitamins and trace minerals capable of activating vital hormones and enzymes needed for metabolic activities. These feed ingredients improve cattle digestibility and help to prevent and cure diseases as well.
These items also have other main advantages in terms of skeletal development, immunity, best health, and high milk production facilitation. Rising disease outbreak cases among poultry and ruminants resulting from iron, copper, zinc, boron, and manganese shortage will increase the demand for trace minerals. Apart from this, the great demand for animal feed additives rich in protein, energy, and mineral for boosting lactation, and reproduction is expected to stimulate the segment development.
By 2032, feed micronutrient market value from the poultry livestock sector is expected to exceed USD 1.4 billion. Feed micronutrients comprise trace minerals, vital nutrients, and vitamins that hasten the general development of turkeys, broiler, and layers as well as enhance their general performance by means of improved reproduction, health, and digestion.
Product acceptance will be increased by expansion in poultry output especially in nations like UK, France, Germany, Russia, and customer inclination for higher nutrient-dense chicken products. Moreover, growing demand for chicken meat and eggs enhanced with minerals and vitamins in many nations could help companies flourish.
Learn more about the key segments shaping this market
By 2032, Asia Pacific feed micronutrient market is expected to show about 5.5% increase. Rising consumer buying power throughout nations including India, China, and Indonesia has strengthened companies in the food and beverage industry depending on meat and poultry goods. Rising meat consumption and taste for premium poultry items have encouraged farmers of cattle to adopt feed additives and micronutrients to drive output. Estimates suggest that last decade's chicken output in Southeast Asia rose by 56%.
Feed Micronutrients Market Share
Top players operating in the global feed micronutrients market are
- Zinpro Corporation
- Tanke Biosciences Corporation
- Biochem
- Nutreco N.V.
- Royal DSM
- QualiTech Corp.
- Mercer Milling Company Inc.
- Vamso Biotec Pvt. Ltd.
- Archer Daniels Midland Company
- Phibro Animal Health Corporation
- Alltech, Inc.
- Ridley Inc.
- Pancosma SA.
- Novus International Inc.
- Davidsons Animal Feeds
- U.S. Rare Earth Minerals Inc.
- Cargill
- Kemin Industries Inc.
These firms are emphasizing on product development/launches and business expansion plans through new mergers and acquisitions. Highlighting an instance, in February 2022, Archer Daniels Midland took over Comhan Group, a South Africa-based firm that imports & distributes animal feeds and feed ingredients.
Impact of the COVID-19 Pandemic
The COVID-19 pandemic affected the livestock production sector which in turn influenced the demand for various animal feed products. Lockdowns and travel restrictions led to the closure of many fast-food chains and restaurants which diminished the demand for poultry and meat products. However, with the lifting of lockdown restrictions and steady revival of the global economy, the livestock sector is witnessing booming growth which will elevate the demand for animal feed additives and micronutrients.
The feed micronutrients market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in thousand tons and revenue in USD million from 2018 to 2032, for the following segments
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Market Insights, By Type
- Trace Minerals
- Iron
- Zinc
- Manganese
- Copper
- Boron
- Others (Selenium, iodine, cobalt)
- Vitamins
- Vitamin B
- Vitamin A (Retinol)
- Vitamin C
- Vitamin D
- Vitamin E
- Carotenoids
- Others (Essential nutrient, Fatty acids)
Market Insights, By Livestock
- Poultry
- Ruminant
- Aquaculture
- Swine
- Equine
Market Insights, By Region
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Spain
- Italy
- Russia
- Asia Pacific
- China
- India
- Japan
- Australia
- Indonesia
- Thailand
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
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