Animal Feed Micronutrients - Global Market Outlook (2019 -2027)
According to Stratistics MRC, the Global Animal Feed Micronutrients Market is accounted for $1,504.13 million in 2019 and is expected to reach $2,804.73 million by 2027 growing at a CAGR of 8.1% during the forecast period. Some of the factors such as increasing demand for animal protein and effectiveness on growth and fertility, and increasing middle-class population and rising per capita income are propelling the market growth. However, the lack of awareness among farmers and critical dosage application are hampering the market growth.
Animal feed micronutrients are added to the feed of those animals that are unable to get proper or adequate nutrients from regular feeds or naturally grown nutrition or to enhance milk yield and animal health. Feed micronutrients help in the prevention and cure of diseases and to improve digestibility in animals.
Based on the product, the zinc segment is going to have a lucrative growth during the forecast period due to the ability of the product to improve the immunity of livestock. Zinc forms an essential component of the RNA and DNA polymerase enzymes and boosts the activity of hormones such as glucagon, insulin, growth hormones, and sex hormones.
By geography, the Asia Pacific is estimated to have a lucrative growth due to factors such as improved economic growth, enormous population base, and growing command for meat protein. This region is also likely to develop at a fast pace in this market in the future.
Some of the key players profiled in the Animal Feed Micronutrients Market include BASF SE, AG Solutions, Alltech Inc, Archer Daniels Midland Company, Balchem Corporation, Beachport Corporation Pty Ltd, Bluestar Adisseo Company, Cargill, Incorporated, Dallas Keith Limited, Kemin Industries, Koninkliijke DSM N.V., Novus International, Inc., Prathista Industries Ltd, Purina Animal Nutrition LLC., Zinpro Corporation, Lallemand Inc., and Nutreco N.V.
• Aqua Feed
• Equine Feed
• Poultry Feed
• Ruminant Feed
• Swine Feed
• Companion Animals
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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