Global Animal Feed Micronutrients Market – Industry Trends and Forecast to 2031

Animal Feed Micronutrients Market Analysis and Size

The global animal feed micronutrients market is witnessing steady growth driven by increasing demand for quality animal nutrition to enhance productivity and health outcomes in livestock and aquaculture sectors. Micronutrients such as vitamins and minerals are crucial for supporting metabolic functions, immune responses, and overall animal well-being. Growing awareness among livestock producers about the benefits of micronutrient supplementation to improve feed efficiency and animal performance is a key factor fueling market expansion. Additionally, rising meat consumption globally is bolstering the demand for high-quality animal feed, further propelling the market growth.

Global animal feed micronutrients market size was valued at USD 1.70 billion in 2023 and is projected to reach USD 2.79 billion by 2031, with a CAGR of 6.40% during the forecast period of 2024 to 2031. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Report Scope and Market Segmentation       

Market Definition

Animal feed micronutrients refer to essential vitamins and minerals required by animals in small quantities for optimal growth, health, and reproduction. These micronutrients include vitamins such as A, D, E, K, and various B vitamins, as well as minerals like calcium, phosphorus, magnesium, zinc, copper, iron, selenium, and iodine.

Animal Feed Micronutrients Market Dynamics

Drivers

• Increasing Demand for Animal Protein      

The global population growth, coupled with rising middle-class incomes, is fueling a notable increase in the consumption of animal protein worldwide. As dietary habits shift towards higher protein diets, there is a corresponding rise in the demand for micronutrient-rich animal feeds. This trend is particularly pronounced in developing regions where dietary preferences are evolving alongside economic development. Micronutrients play a crucial role in enhancing the nutritional quality of animal feeds, ensuring that livestock and poultry receive essential vitamins and minerals necessary for growth, health, and productivity. Consequently, the demand for micronutrient supplements in animal feed is expected to continue rising as the global appetite for animal protein expands.               

• Focus on Animal Health and Productivity     

There is a growing emphasis across the agriculture and livestock sectors on improving animal health and productivity to meet stringent food safety and quality standards. Micronutrient supplements are integral to achieving these goals by supporting immune function, reproductive health, and overall well-being in animals. Farmers and producers are increasingly recognizing the benefits of micronutrient-enriched feeds in optimizing feed efficiency and reducing disease susceptibility, thereby enhancing overall productivity. This focus on animal health and productivity is driving the adoption of advanced micronutrient formulations in animal feed, contributing to the growth of the global market.

Opportunities

• Focus on Animal Health and Productivity    

Innovations such as encapsulation techniques, nanotechnology applications, and controlled-release mechanisms are enhancing the efficiency and targeted delivery of micronutrients to animals. These advancements not only improve the bioavailability and absorption rates of vitamins and minerals but also enable feed producers to tailor formulations according to specific animal species and nutritional requirements. As a result, technological progress in feed additives is creating significant growth opportunities in the animal feed micronutrients market, meeting the evolving demands of modern livestock and aquaculture operations.    

• Technological Advancements in Feed Additives   

There is a growing awareness among farmers and feed producers regarding the critical role of micronutrients in optimizing feed efficiency and overall animal performance. By enhancing nutrient utilization and metabolic efficiency, micronutrient supplements help reduce feed wastage and production costs while improving growth rates and feed conversion ratios. This heightened awareness about feed efficiency benefits is prompting increased adoption of micronutrient-enriched feeds across various livestock and poultry sectors globally. As agricultural practices continue to evolve towards efficiency and sustainability, the demand for advanced micronutrient formulations is expected to grow, creating opportunities for expansion of the market.

Restraints/Challenges

• Fluctuating Prices of Raw Materials    

The animal feed micronutrient market faces challenges stemming from the volatility in prices of raw materials used in micronutrient production, such as vitamins and minerals. Fluctuations in raw material costs can significantly impact the overall pricing and profitability of animal feed additives, posing challenges for manufacturers and suppliers. Economic factors, supply chain disruptions, and geopolitical tensions can exacerbate these fluctuations, influencing market dynamics and pricing strategies.     

• Strict Regulatory Approvals for Micronutrient Formulations

Complex regulatory approval processes for new micronutrient formulations and additives present significant barriers to market entry and expansion. Regulatory frameworks vary across regions, requiring extensive testing, documentation, and compliance with safety and efficacy standards before products can be commercialized. These stringent regulatory approvals can lead to delays in product launches and increased costs associated with compliance, hindering innovation and market competitiveness.

This market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.

Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments

• In March 2022, Jiangxi Zhengbang Group, a major player in China's agricultural industry, decided to streamline its operations by divesting eight of its animal feed units. These units were sold to Beijing Dabeinong Technology Group Co., Ltd., also known as DBN Group, a prominent company in China specializing in agricultural technology and animal nutrition                  
• In April 2022, Marel, a leading global provider of advanced food processing equipment and systems, completed the acquisition of Wenger Manufacturing. Wenger Manufacturing is renowned for its expertise in manufacturing equipment for pet food products, plant-based proteins, and aqua feed

Animal Feed Micronutrients Market Scope

The market is segmented on the basis of type and application. The growth amongst these segments will help you analyze major growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Iron
• Manganese
• Zinc
• Boron
• Copper
• Others

Application

• Swine
• Poultry
• Ruminants
• Aquatic animals
• Equine
• Others

Animal Feed Micronutrients Market Regional Analysis/Insights

The market is analyzed and market size insights and trends are provided by country, type, and application as referenced above.

The countries covered in the market are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E., South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina, and rest of South America.

Asia-Pacific is expected to dominate the market due to factors such as a rapidly growing population and increasing disposable incomes among consumers. These trends stimulated a rising demand for meat and dairy products, consequently boosting the need for animal feed fortified with essential micronutrients.        

Europe is expected to show significant growth due to significant animal feed production capacities and established agricultural sectors. Countries like Spain, Germany, and France are known for their advanced farming practices and stringent regulations ensuring high-quality animal nutrition. The demand for micronutrients in animal feed across Europe was driven by the emphasis on enhancing animal health, improving feed efficiency, and achieving optimal growth rates in livestock.

The country section of the report also provides individual market-impacting factors and changes in market regulation that affect the current and future trends of the market. Data points like downstream and upstream value chain analysis, technical trends, Porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of regional brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs, and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Animal Feed Micronutrients Market Share Analysis

The market competitive landscape provides details of competitors. Details included are company overview, company financials, revenue generated, market potential, investment in R&D, new market initiatives, regional presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on the market.

Some of the major market players operating in the market are:

• CHR. Hansen Holdings A/S (Denmark)
• Lallemand Inc. (Canada)
• Novus International (U.S.)
• DSM (Netherlands)
• BASF SE (Germany)
• Alltech (U.S.)
• ADM (U.S.)
• Charoen Popkphand Foods PCL (Thailand)
• Associated British Foods Plc (U.K.)
• Cargill Incorporated (U.S.)
• Purina Animal Nutrition LLC (U.S.)
• Zinpro Corp (U.S.)
• Dallas Keith (U.K.)
• Balchem Inc., (U.S.)
• Kemin Industries, Inc. (U.S.)

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