Global Animal Feed Micronutrients Market Size By Type, By Livestock, By Geographic Scope And Forecast

Animal Feed Micronutrients Market Size And Forecast

Animal Feed Micronutrients Market size is growing at a moderate pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period from 2024 to 2030.

Global Animal Feed Micronutrients Market Drivers

The market drivers for the Animal Feed Micronutrients Market can be influenced by various factors. These may include

• Growing Requirement for Animal-Based Protein Global population growth and rising incomes—especially in developing nations—are driving up the use of animal products including dairy, meat, and eggs. As a result, there is a greater need for premium animal feed that contains micronutrients for improved livestock productivity and health.
• Knowledge of Animal Nutrition and Health Livestock farmers are becoming more and more conscious of the significance of providing balanced animal diet, which includes micronutrients to prevent deficiencies, boost immunity, and promote overall performance.
• Growth of the Livestock Sector The growing consumer demand for items derived from animals is driving growth in the livestock business. Utilizing cutting-edge feed formulations with vital micronutrients to support the animals’ ideal growth and health is required due to this expansion.
• Commercialization of Animal Husbandry The necessity for accurate and balanced feed compositions—which include micronutrients to maximize production efficiency—increases with the transition from traditional farming methods to industrialized and intensive animal farming operations.
• Technological Progress in the Production of Feed The market has grown as a result of advancements in feed processing technology and the creation of more effective feed additives, which have made it simpler and more affordable to include micronutrients in animal diets.
• Standards of Quality and Support from Regulations To protect the health and safety of cattle as well as final customers, governments and regulatory agencies are enforcing regulations and quality standards more frequently. This regulatory backing promotes the use of micronutrients and other premium feed additives.
• Animal welfare and environmentally friendly farming methods As the need for sustainable farming methods and growing concerns about animal welfare grow, feed that improves health and lessens environmental effect is becoming more popular. Micronutrients are essential for accomplishing these objectives.
• Innovation and R&D New micronutrient formulations and combinations that offer improved benefits for animal health are being discovered as a result of ongoing research and development efforts in the field of animal nutrition, which is fueling market demand.
• Financial Elements Growing livestock agricultural operations are a direct result of economic expansion in emerging nations, which increases the need for premium animal feed that contains vital micronutrients.

Global Animal Feed Micronutrients Market Restraints

Several factors can act as restraints or challenges for the Animal Feed Micronutrients Market. These may include

• Expensive Costs The cost of producing and adding micronutrients to animal feed can be high, which drives up the total cost of the feed. This may discourage farmers who are more economical or smaller in scale from using these products, particularly in poor nations.
• Regulatory Obstacles New micronutrients may not be available for sale right away due to stringent laws and regulatory procedures. Manufacturers may find it more difficult to expand their markets if they must comply with different international standards.
• Ignorance Farmers, particularly those in underdeveloped nations, frequently lack knowledge about the advantages of including micronutrients in animal feed. Lower adoption rates may result from farmers failing to see the potential gains in productivity and animal health.
• Variable Costs of Raw Materials The cost of the final goods can vary depending on the price of the raw materials used to produce micronutrients. The market’s pricing tactics and manufacturers’ profit margins may be impacted by this volatility.
• Complexity of Formulation for Feeds Creating a balanced feed composition with the right amounts of micronutrients can be difficult and need certain expertise. Smaller feed producers may find it difficult to overcome this complexity because they lack the resources or experience needed.
• Saturation of the Market in Developed Areas The animal feed market may already be oversupplied in highly developed regions, which makes it challenging for new micronutrient products to establish themselves. These markets are dominated by well-known companies that have a large following, which limits the prospects for new competitors.
• Farmers’ Economic Restraints Farmers are under financial strain, and this can result in lower spending on supplemental products like micronutrients. Other factors include low profit margins and expensive operating costs. Farmers might put more emphasis on basic feed materials than on extra nutritional bonuses.
• Supply Chain Interruptions Geopolitical crises, natural catastrophes, and pandemics all generate supply chain disruptions that impact the distribution and availability of micronutrients for animal feed, which can impede market expansion.

Global Animal Feed Micronutrients Market Segmentation Analysis

The Global Animal Feed Micronutrients Market is segmented based on Type, Livestock And Geography.

Animal Feed Micronutrients Market, By Type

• Zinc
• Iron
• Manganese
• Copper

Based on Type, the market is classified into Zinc, Iron, Manganese, and Copper. Zinc accounted for the highest market share. This can be attributed to the properties of zinc to enrich and strengthen the immunity of livestock. It also forms an important constituent of RNA and DNA and also enables and supports the secretion of hormones such as insulin and growth hormones. Iron and Manganese also accounted for a considerable market share. This can be attributed to their ability to prevent anemia and develop fertility in animals, respectively.

Animal Feed Micronutrients Market, By Livestock

• Ruminant
• Poultry
• Aqua
• Swine
• Equine

Based on Livestock, the market is bifurcated into Ruminant, Poultry, Aqua, Swine, and Equine. The Poultry segment captured the largest market share. This can be attributed to the fact that micronutrients are especially essential for the overall development of poultry birds. They are vital ingredients to ensure proper reproductive health and the overall well-being of birds. The Swine segment accounted for the second-largest market share owing to the key nutrients that these feeds provide to pigs.

Animal Feed Micronutrients Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Based on Geography, the Global Animal Feed Micronutrients Market is bifurcated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The Asia Pacific region held a major market share owing to rapidly increasing demand for meat and poultry as a result of an increase in disposable income and economic development. Europe accounted for the second-largest market share. The presence of multiple market players in the region can be attributed to that.

Key Players

• Novus International Inc.
• Purina Animal Nutrition LLC
• AG Solutions
• Beachport Corporation Pvt. Ltd.
• Zinpro Corporation.
• Bluestar Adisseo Company
• Pratishtha Industries Ltd
• Dallas Keith Limited
• Archer Daniels Midland Company
• Koninklijke DSM N.V.

Report Scope

Research Methodology of Market Research

To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our .

Reasons to Purchase this Report

•  Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
•  Provision of market value (USD Billion) data for each segment and sub-segment
•  Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
•  Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
•  Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
•  Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
•  The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
•  Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
•  Provides insight into the market through Value Chain
•  Market dynamics scenario, along with growth opportunities of the market in the years to come
•  6-month post-sales analyst support

Customization of the Report

•  In case of any please connect with our sales team, who will ensure that your requirements are met.