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Feed Micronutrients Market Analysis
- Report ID: GMI1921
- Published Date: Feb 2023
- Report Format: PDF
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.
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Feed Micronutrients Market Scope
