Feed Micronutrients Market to Register Exponential Compound Annual Growth Rate Through 2026
According to Acumen Research and Consulting, the global Feed Micronutrients market is expected to grow at noteworthy CAGR around 7.1 % throughout the forecast period and reach around US$ 2.2 billion by 2026.
Feed micronutrients are essential additives of animal feed that are added to the feed of animals unable to acquire sufficient vitamins and nutrients from traditional periodic feeds to enhance milk production, development and animal health. They contribute to disease prevention and cure and digestibility in livestock. They are becoming more and more popular primarily as a growth advocate with beneficial outcomes on digestibility, reproductive maximization and disease prevention and curing. Metal ions needed to withstand significant illnesses are trace minerals. The chemicals generated in varied procedures and the improvisation of their development and immunity contributes to the well-being of livestock by micronutrients, including vitamins, minerals, and enzymes. Feeds also improve intestinal absorption and reproductive system in ruminants.
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The report provides analysis of global Feed Micronutrients market for the period 2015-2026, wherein 2019 to 2026 is the forecast period and 2018 is considered as the base year.
Market Insights
Increased consumer knowledge of ruminant health along with increased animal husbandry and breeding expenditures will increase the market size of feed micronutrients. Increasing concerns about significant illnesses such as bovine spongiform encephalopathy, microbial contamination and chronic feed illnesses will promote fresh business possibilities. A favorable scope for product penetration is given to the development of sophisticated animal husbandry methods to allow quicker timelines for animal production.
The increasing use of vitamins and trace minerals to activate key enzymes and hormones, essential for animal metabolism, will promote the development of the sector. The favorable perspective will promote a key benefit for the Product portfolio, including skeletal growth, optimal health, immunity and facilitation of elevated dairy manufacturing. Due to altering nutritional trends, significant shifts in meat and milk manufacturing around the planet will increase the development in the industry.
Rapid development will offer favorable company perspectives in feed sector, especially in developed economies such as China, India, South Africa and Indonesia. The increase in the market demand will be fueling growing health issues due to reduced levels of essential components in the drilling. In addition, important R&D investments will further promote market development for feed micronutrients, thanks to fast technological developments in the forage sector and the increasing need for milk and poultry goods.
The projected expansion of business will increase in the projected time period, in particular by CFIA, REACH and FDA for the prevention of micronutrient malnutrition and the reduction of synthetic additive consumption. Moreover, the growing trend for clean label products which these regulatory bodies will require a rigorous approval process will improve the portfolio further. The requirement that elevated R&D expenses be used to create organic minerals and stringent rules for controlling the use of soil pollutant zinc and copper are anticipated to limit the general growth of the sector.
Type Stance
Over 63% of the market share of trace minerals acquired in 2019. Increased diseases among poultry and ruminants caused by iron, copper, zinc, boron, manganese etc. deficiency will have a favorable effect on the demand for the product. The growth, laction & reproduction segment is expected to increase high requirements for water, protein, power, and minerals in animal diets to improve development. In addition, increasing demand for antioxidants in the animal feed will further proliferate the total sector size to enhance and control the body functions of livestock.
Vitamins are expected to be seen by CAGR from 2019 to 2026 at more than 6.2 percent. The demand for vitamins is anticipated to increase in order to increase the metabolism, immunity and reproductive efficiency. Increased demand for quality meat, health issues, and animal disease outbreaks is likely to boost the rate of product acceptance. In addition, the segment will have a crucial role to play in development, such as increased demand for dairy products, increasing interest in owning pet animals and the achievement of animal feed micronutrients.
Livestock Stance
More than 40.5% of the worldwide share of the feed micronutrients sector accounted by Poultry in 2018. In particular in European nations such as Germany, UK, France and Russia, rapid development of the production facilities will strengthen the portfolio of poultry products. Factors like customer preferences for poultry products that contain greater levels of nutrients and greater prices of poultry replacements such as growth segment beef and pork propellants. Positive animal performance in terms of enhanced consumption of vitamins and nutrients will further increase the demand from the sector.
In the forecast era from 2019 to 2026, ruminants are expected to expand by over 8% with a CAGR. In terms of improved nutrient consumption, significant health advantages for ruminants will positively boost the market demand. The development of the segment will be driven by the increasing demand for milk and its subproducts like butter, cheese, curd and cream, together with the rise in meat consumption worldwide. The growth segment is also anticipated to be increased by increasing customer knowledge of vitamins and minerals-rich meat products.
Regional Stance
More than 30.5 percent of the global share of the feed micronutrient sector in 2018 was accounted for in Asia Pacific. Due to fast urbanisation and altering nutritional trends in developing economies such as Indonesia, India, China and Japan, consumption of several meat products will increase and drive market growth. For example, China consumed some 65.7 million tons of meat in 2016, according to the Global Tracker. In addition, increased demand for nutritious animal food for bone health by the geriatric population will further promote the regionâs general market growth.
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The Middle East and Africa are projected to see profits of over 7.5 percent between 2019 and 2026. High imports of meat and wider socioeconomic patterns provide the premium meat imported throughout the region with many possibilities. Importing beef use in high-end foodservices markets will increase regional industry development, as well as the increasing tourism sector, constant westernisation and urbanization. The significant development of the meat and pork cold storage facility especially in Saudi Arabia, the UAE and Kuwait will provide favorable scope for the regionâs market growth for feed micronutrients.
Market Segmentation
Global Feed Micronutrients Market, By Product
Vitamins
Vitamin E
Vitamin K
Vitamin D
Vitamin C
Vitamin B
Vitamin A
Carotenoids
Trace Minerals
Manganese
Iron
Copper
Zinc
Boron
Global Feed Micronutrients Market, By Livestock
Poultry
Swine
Aquaculture
Ruminant
Equine
Global Feed Micronutrients Market, By Geography
North America.
Europe
Asia-Pacific
Latin America
Middle East and Africa (MEA)
Key Players & Strategies
Because of the fact that few major businesses are present, amongst them Novus International Inc., Phibro Animal Health Corp., Royal DSM NV, Zinpro Corp., Alltech inc., Cargill inc. Nutreco, global market shares for feed micronutrients are extremely competitive. These sector players are critical strategies for collaborations, mergers, acquisitions, product improvements, supply chain contracts. In January 2016, for example, Nutreco announced that it would acquire micronutrients to strengthen its portfolio of animal nutrition businesses.
Other notable players include Mercer Milling Co. Inc., Pancosma SA, QualiTech Corp., Ridley Inc., Kemin Industries Inc., Tanke Biosciences Corp., Biochem Lohne Germany, U.S. Rare Earth Minerals Inc., and Vamso Biotec Pvt. Ltd.
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