Animal Feed Micronutrients Market Size Report, Industry Share, Analysis, Growth, 2032

Global Animal Feed Micronutrients Market Insights

Zion Market Research has published a report on the global Animal Feed Micronutrients Market, estimating its value at USD 1756.46 Million in 2023, with projections indicating that it will reach USD 3043.95 Million by 2032. The market is expected to expand at a compound annual growth rate (CAGR) of 6.3% over the forecast period 2024-2032. The report explores the factors fueling market growth, the hitches that could hamper this expansion, and the opportunities that may arise in the Animal Feed Micronutrients industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

Request Free Sample

Global Animal Feed Micronutrients Market: Overview

Animal feed micronutrients are vital animal feed supplements used extensively for enhancing the quality of feed to boost the yield and overall animal health. Animal feed micronutrients demand is increasing as it propels the performance and has wide applications such as cure and prevention of diseases, growth promoter, for enhancing feed digestibility in animals, and for boosting reproduction rate. Owing to the rising urbanization and globalization, there has been a huge change in lifestyles of the consumers. To fulfill the daily requirement of nutrients in order to maintain their brisk lifestyle, the consumers have significantly increased the nutrient consumption. This has generated a huge demand for dairy and meat products globally, leading to a rise in the requirement for micronutrients in the animal feed..

Global Animal Feed Micronutrients Market: Growth Factors

The major factors propelling the growth of the global animal feed micronutrients market include the expanding middle-class population and increasing per capita income. Other factors propelling the global market growth include high spending on animal health and wellness and increasing awareness regarding protein-rich food benefits.

Request Free Sample

Global Animal Feed Micronutrients Market: Segmentation

The global animal feed micronutrients market can be segmented based on type, livestock, and geography. All the segments have been analyzed based on present and future trends and the market is estimated from 2024 to 2032.

The type segment of the global market is sub-segmented into iron, zinc, copper, and manganese.

The livestock segment of the animal feed micronutrients market is divided into poultry, ruminant, swine, equine, and aqua.

Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Animal Feed Micronutrients Market: Report Scope

Global Animal Feed Micronutrients Market: Regional Analysis

Asia Pacific is expected to grow at a fast pace in the animal feed micronutrients market in the near future. The growth of the market can be attributed to factors such as huge population base, increased economic growth, and increasing demand for meat protein. North America is anticipated to witness above average growth in the coming period owing to the increasing demand for meat.

Latin America is assumed to grow remarkably in the animal feed micronutrients market due to rising demand for protein-rich food along with the rise in population. The European industry is expected to grow positively owing to the improving meat costs and increasing concerns related to food safety. North America is also assumed to grow at a substantial rate in the animal feed micronutrients market in the coming period.

Global Animal Feed Micronutrients Market: Competitive Players

Some main participants of the Animal Feed Micronutrients market are-

• Cargill Inc.
• Lallemand Inc.
• Archer Daniels Midland Company
• Alltech Inc.
• Balchem Corp.
• Kemin Industries Inc.
• Nutreco N.V.
• Zinpro Corporation
• Qualitech Inc.
• Others.

This report segments the Global Animal Feed Micronutrients Market as follows:

Global Animal Feed Micronutrients Market: Type Analysis

• Iron
• Zinc
• Copper
• Manganese

Global Animal Feed Micronutrients Market: Livestock Analysis

• Poultry
• Ruminant
• Swine
• Equine
• Aqua

Animal Feed Micronutrients Market: Regional Segment Analysis

• North America
  • The U.S.
  • Canada
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa