Animal Feed Micronutrients Market

Animal Feed Micronutrients Market Size & Growth (2022 - 2027):

Animal Feed Micronutrients Market was worth USD 1476.3 Million in 2021 and is expected to reach USD 1990.6 Million by 2026 with a CAGR of 6.16 %. The Animal Feed Micronutrients Market is observed to be developing at a significant pace, because of the rising populace resulting in rising demand for meat and an inclination of customers towards the healthy food, over the globe.

Animal Feed Micronutrients market incorporates minerals such as zinc, iron, magnesium, copper, and others utilized for Livestock. Animals require micronutrients in the appropriate amounts to improve lactation, development, and reproduction. Irregularity or insufficiencies may bring about suboptimal performance and poor health of the Animal. Micronutrients are the source of vitality, protein, minerals, and vitamins. They perform multifaceted functions in Animal production and growth and furthermore contribute in catalyst system operations.

Drivers and Restraints of Animal Feed Micronutrients Market:

Animal Feed Micronutrients Market Drivers:

Rising interest of owning pet animals, growing expenses on animal wellbeing and wellness combined with success of animal feed micronutrients in development and fertility of the animals are some of the major factors driving the animal feed micronutrients market. Furthermore, the rising demand for animal protein from milk and meat delivering cattle combined with recent illness epidemic in cattle is further driving the animal feed micronutrients market.

Animal Feed Micronutrients Market Restraints:

The critical dosage use of animal feed micronutrients and dearth of awareness about the advantages of micronutrients among uneducated and poor farmers are major factors restraining the animal feed micronutrients industry.

REPORT COVERAGE:

Animal Feed Micronutrients Market Segmentation:

Animal Feed Micronutrients Market – By Type:

• Zinc

• Iron
• Manganese
• Copper
• Others

Animal Feed Micronutrients Market – By Livestock:

• Ruminant
• Poultry
• Aqua
• Swine
• Equine
• Others

Animal Feed Micronutrients Market – By Region:

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

Asia-Pacific is the largest market because of its rapid economic growth and large population. Asia-Pacific is also 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.

Key Players:

Major companies operating in the global market include Archer Daniels Midland Company (ADM), Balchem Corp., Lallemand Inc, Alltech Inc., Cargill Inc., Novus International Inc., Kemin Industries Inc., Zinpro Corporation, Nutreco N.V. and Qualitech Inc.