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What is the current market size and future outlook for the feed micronutrients market?
The feed micronutrients market size has grown strongly in recent years. It will grow from $1.86 billion in 2024 to $1.99 billion in 2025 at a compound annual growth rate (CAGR) of 7.1%. The growth in the historic period can be attributed to increased demand for meat products, increased livestock production, increased per capita income, increased need for vitamins to boost immunity, increased demand for antioxidants in feed micronutrients.
The feed micronutrients market size is expected to see strong growth in the next few years. It will grow to $2.6 billion in 2029 at a compound annual growth rate (CAGR) of 7.0%. The growth in the forecast period can be attributed to growth in demand for dairy products, poultry products, and other products, demand for feed micronutrients by ruminant, high consumer preference to poultry products attributable, demand for high-quality animal products, increasing demand for antioxidants in feed micronutrients. Major trends in the forecast period include rising sustainable practices, product innovation, innovative ways to improve the nutritional content, increasing expenditure on animal welfare, adoption of feed micronutrients, increasing awareness of feed quality.
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Which Market drivers have played a significant role in driving the feed micronutrients market?
The growing demand for poultry products is expected to drive the growth of the feed micronutrient market going forward. Poultry products refer to various items derived from domesticated birds, such as chickens, turkeys, ducks, geese, and quails. The demand for poultry products is due to their nutritional value, versatility in culinary applications, and cultural significance in many societies. Feed micronutrients are indispensable in poultry diets, contributing to optimal health, productivity, and product quality, ensuring that birds receive the necessary nutrients to thrive in various production environments. For instance, in December 2023, according to a report by the Food and Agriculture Organization of the United Nations (FAO), a US-based government organization, global poultry meat output reached 142 million metric tons in 2023, representing a 1% increase compared to the previous year. Similarly, global ovine meat output was 17.0 million metric tons in 2023, reflecting a 1.7% year-on-year increase. Therefore, the growing demand for poultry products drives growth in the feed micronutrient market.
What are the key segments within the feed micronutrients market?
The feed micronutrients market covered in this report is segmented –
1) By Product Type: Minerals, Vitamins, Carotenoids, Others Product Types
2) By Form Type: Non-Chelated, Chelated
3) By Livestock: Poultry, Aquaculture, Swine, Equine, Other Livestocks
Subsegments:
1) By Minerals: Trace Minerals, Macro Minerals, Chelated Minerals
2) By Vitamins: Fat-Soluble Vitamins, Water-Soluble Vitamins, Pro-Vitamins And Synthetic Vitamins
3) By Carotenoids: Beta-Carotene, Lutein, Zeaxanthin, Astaxanthin
4) By Other Product Types: Amino Acids, Antioxidants, Enzymes, Organic Micronutrients
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Which key players are shaping the feed micronutrients market?
Major companies operating in the feed micronutrients market are Cargill Incorporated, Archer Daniels Midland Company, BASF SE, Tyson Foods Inc., Evonik Industries AG, Syngenta Group, Nutreco N.V., Alltech Inc., Lallemand Inc., Kemin Industries Inc., Godrej Agrovet Ltd., Phibro Animal Health Corporation, Ridley Inc., Purina Animal Nutrition LLC, Zinpro Corporation, Novus International Inc., Biochem GmbH, Pancosma SA., Pancosma S.A., Procare Solutions, Tanke Industry Group, QualiTech LLC, Mercer Milling Company Inc., Davidson Brothers (Shotts) Ltd.
Which transformative trends will shape the feed micronutrients market landscape?
Major companies in the feed micronutrient market are focusing on developing innovative products such as organic-compliant chromium propionate feed ingredients to meet the growing demand for sustainable and effective animal nutrition solutions. An organic-compliant chromium propionate feed ingredient is a type of nutritional supplement used in animal feed that meets the standards and regulations for organic farming. For instance, in January 2024, Kemin Industries Inc., a US-based specialty ingredients company, announced the FDA’s approval of chromium propionate for use in growing turkey diets, marking a significant advancement in animal nutrition. This approval allows chromium propionate, specifically Kemin’s KemTRACE Chromium, to be utilized not only in turkeys but also in swine, broiler chickens, cattle, and horses.
How do regional factors impact the feed micronutrients market, and which region is the largest contributor?
Asia-Pacific was the largest region in the feed micronutrients market in 2023. North America is expected to be the fastest growing region in the market. The regions covered in the feed micronutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Feed Micronutrients Market Report 2025 Offer?
The feed micronutrients market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Feed micronutrients are essential vitamins and minerals added to animal feed in small quantities to support overall health, growth, and productivity. These micronutrients are critical in various physiological functions, including immune response, bone development, and energy metabolism.
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