Global Animal Feed Micronutrients Market By Product (Iron, Manganese, Zinc, Boron, Copper, and Others), Application (Ruminant, Poultry, Swine, Aqua, Equine, and Others), – Industry Trends and Forecast to 2029
Market Analysis and Size
Livestock production has increased in several countries around the world to meet the needs of changing population diet patterns, particularly in developing markets. The livestock sector in the global market, is becoming increasingly industrial, even though a large number of farmers in countries such as India and China remain small and marginal.
Data Bridge Market Research analyses that the animal feed micronutrients market was valued at 1503.29 million in 2021 and is expected to reach the value of USD 2469.31 million by 2029, at a CAGR of 6.40% during the forecast period of 2022 to 2029.
Market Definition
Animal feed micronutrients are nutritious foods with high levels of proteins, minerals, and vitamins given to livestock, farm, and aquatic animals. Domestic animals primarily consume it in the form of fodder, hay, silage, pelleted feeds, oilseeds, sprouted grains, and forage, among other things. Animal feed micronutrients are an important component of animal rearing, and it varies depending on whether the animals are raised for meat, eggs, or milk.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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By Product (Iron, Manganese, Zinc, Boron, Copper, and Others), Application (Ruminant, Poultry, Swine, Aqua, Equine, and Others),
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Countries Covered
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U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Global, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa
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Market Players Covered
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CHR. Hansen Holdings A/S (Denmark), Lallemand Inc. (Canada), Novus International (U.S), DSM (Netherlands), BASF SE (Germany), Alltech (US), ADM (U.S), Charoen Popkphand Foods PCL (Thailand), Associated British Foods Plc (U.K), Cargill Incorporated (U.S), Purina Animal Nutrition LLC (US), Zinpro Corp (US), Dallas Keith (UK), Balchem Inc., (US), Kemin Industries, Inc. (US)
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Opportunities
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Animal Feed Micronutrients Market Dynamics
Drivers
- Growing focus on the animal health
Increased emphasis on animal health will also drive market growth. Increased cattle farming is likely to increase demand for animal feed micronutrients. Humans' increasing demand for animal-based products will drive up market demand. Proponents of natural growth are expected to be active in the market as their momentum grows. Rising consumer awareness of the benefits of using feed additives to reduce disease has fuelled the market's demand.
- Increase in the demand for organic meat
Food safety concerns have increased the demand for high-quality animal feed micronutrients to ensure meat safety. Another factor driving the growth of the animal feed micronutrient market is the growing awareness among farm owners of maintaining a healthy animal-based diet. As a result, they are transitioning from standard animal feed micronutrients to functional and premium variants that help improve the animals' immunity against enzootic diseases while also lowering the risk of metabolic disorders, acidosis, injuries, and infections.
Furthermore, an increase in demand for organic meat from developed-country consumers and the implementation of new animal rearing practises and the maintenance of high farming standards have created a positive outlook for the industry.
Opportunity
Increasing meat consumption in developing economies such as China, India, and Brazil is expected to drive Global demand for the product. Australia is a major pork exporting region and is expected to drive product demand over the forecast period.
Restraints
High raw material prices and an increasing number of restrictions and regulatory bans will act as market restraints for the growth of animal feed micronutrients during the forecast period. Less product awareness will restrain further challenging the growth of the animal feed micronutrients market during the forecast period.
This animal feed micronutrients 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 animal feed micronutrients market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Animal Feed Micronutrients Market
Agriculture and food production have been identified as critical sectors Global during the COVID-19 situation. As a result, farmers have continued to ensure that farm animals receive high-quality nutrition in order to feed an increasing number of Global consumers. However, the supply chain disruption has become the most significant factor affecting the animal feed micronutrients market. China is a main producer and exporter of animal feed micronutrients, and it stockpiled substantial amounts of product during the emergence of the COVID-19 situation while businesses were closed for the Lunar New Year, which was enough for 2-3 months’ supply. Furthermore, logistics issues have hampered the supply of containers and vessels and the transport of certain micro-ingredients.
Recent Development
- • In October 2021, Cargill and BASF announced a partnership in the animal nutrition business, bringing additional markets and research and development capabilities to the companies' current feed enzymes distribution agreements. This collaboration aided in developing, producing, marketing, and selling customer-focused enzyme products and solutions for animals, including swine.
- De Heus acquired Coppens Diervoeding, a feed manufacturing company based in the Netherlands that specializes in the pig farming sector, in July 2021. This acquisition enabled the company to double its production capacity and strengthen its regional presence by 400k.
- ADM opened a new livestock feed plant in Ha Nam province, Vietnam, in November 2019. The new facility adds to ADM's growing list of investments in Vietnam, becoming the company's fifth plant dedicated to animal nutrition in the country. The plant is
Global Animal Feed Micronutrients Market Scope
The animal feed micronutrients market is segmented on the basis of product type and application. The growth amongst these segments will help you analyze meagre 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 animal feed micronutrients market is analysed and market size insights and trends are provided by country, product type and application as referenced above.
The countries covered in the animal feed micronutrients market report are U.S., Canada, Mexico, Germany, Sweden, Poland, Denmark, Italy, U.K., France, Spain, Netherland, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Global, Brazil, Argentina, Rest of South America, UAE, Saudi Arabia, Oman, Qatar, Kuwait, South Africa, Rest of Middle East and Africa
Asia is the most important market for pork consumption and production, accounting for roughly half of Global output. The Global region is the largest market for animal feed micronutrients products due to the high consumption of pork meat. Southeast Asia is the world's largest pork producer and exporter. Since ancient times, pork meat has been consumed in the region and is the most popular meat due to its high fat content and flavour. China is the largest pork producer's market, followed by Vietnam, Thailand, South Korea, Japan, and the Philippines. Japan, South Korea, and Taiwan are saturated pork consumption markets, while Vietnam and the Philippines are emerging markets.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Global brands and their challenges faced due to large or scarce competition from local and domestic brands, 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 animal feed micronutrients market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to animal feed micronutrients market.
Some of the major players operating in the animal feed micronutrients market are:
- CHR. Hansen Holdings A/S (Denmark)
- Lallemand Inc. (Canada)
- Novus International (U.S)
- DSM (Netherlands)
- BASF SE (Germany)
- Alltech (US)
- ADM (U.S)
- Charoen Popkphand Foods PCL (Thailand)
- Associated British Foods Plc (U.K)
- Cargill Incorporated (U.S)
- Purina Animal Nutrition LLC (US)
- Zinpro Corp (US)
- Dallas Keith (UK)
- Balchem Inc., (US)
- Kemin Industries, Inc. (US)
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