Home > Animal Health & Nutrition > Feed Additives > Feed Micronutrients Market
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.
Expansive growth in the animal feed sector across emerging countries like Brazil, Mexico, India, and China, will offer a positive business outlook to industry participants. Animal forage that contains low amounts of vital ingredients can lead to inadequate intake of nutrients by livestock. To counter this, farmers and breeders are using feed additives and micronutrients to improve overall livestock health and welfare.
New companies and startups are introducing innovative ways to improve the nutritional content of animal feed products. For instance, in August 2022, Loopworm, an insect biotech startup, raised $3.4 million to fund R&D activities as well as set up its first factory to scale up the production of protein and micronutrient-rich animal feed.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| 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: |
|
| Pitfalls & Challenges: |
|
Higher costs associated with the development of feed micronutrients and their negative environmental impacts could restrain industry growth. The presence of ingredients like zinc and copper in these products can contribute to soil pollution. Moreover, surging demands for animal products and struggling supplies of feed raw materials could hamper the growth of the global feed micronutrients industry to some extent.
Feed Micronutrients Market Size Analysis
Feed micronutrients market size from the trace minerals segment is estimated to record nearly 6% growth rate between 2023 and 2032. Efforts to improve livestock health have fuelled the demand for animal feed nutrients that contain vitamins and trace minerals that can help activate essential enzymes and hormones required for metabolic processes. These feed nutrients also contribute to disease prevention & cure and increase the digestibility of livestock.
Other key benefits of these products include skeletal development, immunity, optimum health, and the facilitation of high milk production. Rising cases of disease outbreaks among poultry and ruminants owing to iron, copper, zinc, boron, and manganese deficiency will enhance the demand for trace minerals. Apart from this, the high demand for animal feed additives that are rich in protein, energy, and mineral for improving lactation, & reproduction is anticipated to foster the segment growth.
Feed micronutrients market value from the poultry livestock segment is poised to surpass USD 1.4 billion by 2032. Feed micronutrients contain trace minerals, essential nutrients, and vitamins that accelerate the overall development of turkeys, broilers, and layers as well as facilitate superior reproduction, and health, and improve their overall performance.
Expansion in poultry production, particularly in countries like UK, France, Germany, and Russia and consumer preference for higher nutrient-dense poultry products will augment product adoption. Furthermore, rising demand for poultry meat and eggs enriched with vitamins and minerals across these countries is expected to support business growth.
Asia Pacific feed micronutrients market is predicted to observe approximately 5.5% gains through 2032. An increase in consumer purchasing power across countries like India, China, and Indonesia, has reinforced food and beverage businesses that rely on meat and poultry products. Escalating meat consumption and preference for high-quality poultry products have incited livestock farmers to use feed additives and micronutrients to propel production. According to estimates, poultry production in Southeast Asia increased by 56% in the last decade.
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:
Click here to Buy Section of this Report
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
Frequently Asked Questions (FAQ) :