Feed Micronutrients Market is Estimated to Grow at a Healthy CAGR of Over 6% by 2027

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The global feed micronutrients market is estimated to grow at a healthy CAGR of over 6% during the forecast period (2019-2027) and reach a valuation of over US$ 2.5 Bn on the back of growing focus on sustainability of animal nutrition products in developed as well as developing regions. During the last few years, the global market for animal feed micronutrients has undergone a major transition in terms of quality control and demand.

Growing demand for meat and dairy products is projected to grow steadily over the forecast period, which is expected to give demand for feed micronutrients an uptick. The major factors driving the growth of the global market for feed micronutrients includes the growing livestock production and increasing per capita income.

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Feed Micronutrients Market: Key Takeaways:

  • The growing trend toward clean label products that require regulatory certification is expanding the product variety for feed micronutrients.
  • The vitamins category is expected to increase at a CAGR of around 6.5 percent over the forecast period. Vitamins are needed to promote metabolism, immunity, and reproductive health, which is driving sales of feed micronutrients.
  • The poultry sector accounted for more than 40% of the worldwide feed micronutrients market. Rapid expansion of poultry product production facilities would broaden the product portfolio, notably in European countries such as Germany, the United Kingdom, France, and Russia.
  • APAC accounts for more than a third of the global feed micronutrients market. Consumption of meat and meat-related goods is increasing in rising economies such as Indonesia, India, China, and Japan, which is boosting growth. APAC’s commercial outlook is also brightening thanks to substantial expansion in the animal feed industry.

“Growing bioavailability of micronutrients is paving the path for the feed micronutrients market to see significant gains and generate lucrative roadmaps during the projected period,” Fact.MR Study

Competitive landscape:

The global feed micronutrients market is moderately consolidated with few multinational conglomerates such as Tanke Biosciences Corporation, Vamso Biotec Pvt. Ltd., Archer Daniels Midland and Pancosma SA occupying the largest shares. Emerging players on the market for feed micronutrients face various constraints, such as increased regulations, higher production costs and low consumer awareness.

In September, 2018, Micronutrients USA and Kemin Industries partnered to introduce “IntelliBond VITAL”, the world’s first nutrition package to support the well-being and performance of dairy and beef cattle, containing six essential trace minerals.

Global Feed Micronutrients Market: In-Depth Assessment on Key Segments:

The global feed micronutrients market is segmented on the basis of product type, livestock and region.

·         By Product Type:

  • Minerals
  • Vitamins
  • Carotenoids
  • Others (Fatty Acids, Essential Nutrients)

·         By Livestock :

  • Poultry
  • Aquaculture
  • Swine
  • Equine
  • Others

·         By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA

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Questionnaire answered in the Market outlook Report of Feed Micronutrients include:

  1. Current Market Size and Growth: What is the current size of the feed micronutrients market, and what is its projected growth rate over the next five years? What are the factors driving this growth?
  2. Market Segmentation: How is the feed micronutrients market segmented based on product types (vitamins, minerals, trace elements), livestock type (poultry, ruminants, swine, aquaculture, etc.), and regions (North America, Europe, Asia-Pacific, etc.)?
  3. Key Players and Competitive Landscape: Who are the major players in the feed micronutrients market? What are their market shares and key strategies? How intense is the competition in the industry?
  4. Emerging Trends: What are the emerging trends in the feed micronutrients market? Are there any innovative products or technologies gaining traction?
  5. Regulatory Environment: How does the regulatory environment impact the feed micronutrients market? Are there any recent or upcoming regulations affecting the use of micronutrients in animal feed?
  6. Customer Preferences: What are the preferences of feed manufacturers and livestock producers when it comes to choosing micronutrient suppliers? What factors influence their decision-making process?
  7. Demand Drivers: What are the primary drivers of demand for feed micronutrients? Is the increasing demand for meat and dairy products driving the market growth?
  8. Sustainability and Environment: How are feed micronutrient manufacturers addressing sustainability concerns? Are there any efforts to reduce environmental impact in the production and use of micronutrients?
  9. Challenges and Constraints: What are the challenges faced by the feed micronutrients market? Are there any constraints in the availability or cost of raw materials?