Feed Micronutrients Market Size

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.

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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.

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.