What? When? Why?
Latest Happenings in Business World
Asia-Pacific is the fastest growing region during the forecast period. Meanwhile, North America is growing at a substantial CAGR is likely to be the second largest market by the end of the forecast period.
Animal Feed Micronutrients Market Overview:
Nutrient efficacy has been long ignored when it comes to developing supplements for animals. Therefore, it hardly comes as a surprise if animal producers and farmers are looking out for fodder that is enriched indeed.
Animal Feed requires micronutrients in general. These can be simple minerals such as zinc, manganese, copper, iron, iodine, molybdenum or various enzymes, co-enzymes, vitamins so on and so forth. To optimize the growth rate, reproductive health, immunity, and even performance of the animals, the feed needs to be of premium quality to not affect the health adversely. Diet plays a major role in enhancing metabolism, physiological functions, and so much more.
Industry Analysis and Growth Factors:
As far as the animal feed micronutrient market is concerned, the growth has been tremendous. With a growing number of animal-based products such as poultry, beef, pork, milk, eggs and increased awareness of pet health among owners is expected to drive the market growth. Nonetheless, the market was worth USD 1476.3 million in 2019. However, with an ever-increasing compound annual growth rate of 6.16%, the market is expected to cross USD 1990.6 million by 2024.
It is essential to teach farmers and animal breeders the importance of introducing micronutrients in the animal feed. Even though there is a dearth of knowledge, it is not an uphill task. A collaboration of industry giants and government can take the mission up and drive it towards excellence. Proper fodder and feed can allow sturdy health and help in increasing the age-span of certain animals.
Did you know that a deficiency of micronutrients in animal feed leads to reduced productivity and ill health? Animals can incur blood-related issues such as anemia, spinal lesions, goiter, and swollen joint and inflammation issues if they are not fed properly on time. However, as animal owners, it becomes their responsibility to take care of them
The signs of nutrient deficiencies are clearly visible in a physical format. Fertility in animals is affected by lack of selenium; immunity is impacted adversely through cobalt deficiency, changing of hair color in case of lack of copper in the feed are a couple of major changes that can be observed without a veterinary doctor’s help.
Latest reports and studies prove that wastewater from dairy products manufacturing can be used as animal feed. The acid whey that is generated as a part of the process is rich in lactose and other organic supplements. As a pure product, it can be harmful. However, on treating it under optimal temperature conditions with microbiomes, it undergoes a chain reaction that rules out the requirement of any further sterilization. The final product can be used as an anti-microbial feed supplement to the animals to prevent certain diseases.
Feed micronutrients can be enhanced naturally by using natural fertilizers such as manure and organic waste that add to the nutritional quotient of soil and fodder consequently. Sustainable production of indigenous animal feed can also contribute to the process positively. However, farmers could be advised to treat the fodder through sprays or bottled micronutrients that could enrich the feed. Subsequently, treating the animals with food that has injected supplements or providing these micronutrients as an intravenous liquid could also help in combating the deficiency issues.
Geographically, Asia Pacific is the major consumer of the products because of an exploding population and an elevated demand for animal-based products. Urbanization in the continent has driven individuals to try out multiple products especially the poultry derivatives in multiple forms. Overall customers have been more than willing to pay for the products as well. Following the suit are the major continents of North America, Europe, Latin America, and the Middle East which have reported a subtle growth rate and are expected to gain traction in the forecast period.