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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global Animal Feed Micronutrients Market Outlook
The global animal feed micronutrients market reached a value of about USD 1.65 billion in 2021. The market is further estimated to grow at a CAGR of 6.20% in the forecast period of 2024-2032 to reach a value of around USD 2.37 billion by 2027.
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Rising Demand for Manganese in Animal Feed to Aid the Market Growth During the Forecast Period
Based on product, the demand for manganese in animal feed is significantly growing. Manganese plays a critical role in animal nutrition, particularly in activating the enzymes to produce mucopolysaccharides and glycoproteins, forming the organic matrix of bone and cartilage. The trace mineral manganese is concentrated in the animal bones, and its deficiency results in reduced growth or malformed bones in cattle and chickens, which leads to increased demand for manganese in animal feeds. Also, manganese is vital for reproductive performance, particularly in cattle, as manganese deficiency in cows can result in their offspring having inadequate bone formation. The growing awareness about the importance of manganese in fat metabolism, carbohydrate metabolism and energy production is positively impacting the animal feed micronutrients market growth. Further, manganese improves the immune function in cattle and reduces milk fever, which enables the dairy producer to experience less loss in their operation.
Market Segmentation
Animal feed micronutrients are nutrients that are required by the animals in small quantities and are used in the food of domestic animals. They are added to boost overall animal health, prevent nutritional deficiency, and increase feed consistency. The micronutrients that are essential for animal nutrition include iron, manganese, boron, copper, and zinc, among others.
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The market for animal feed micronutrients, by product, is divided into:
- Manganese
- Iron
- Boron
- Zinc
- Copper
- Others
Based on application, the market is segmented into:
- Ruminants
- Swine
- Poultry
- Equine
- Aqua
- Others
The regional markets for animal feed micronutrients can be divided into North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Rising Concerns towards Animal Health to Drive the Market Growth of Animal Feed Micronutrients
The increasing concerns over animal health and the prevalence of diseases like beriberi and scurvy due to nutritional deficiency worldwide are leading to the steady growth of the animal feed micronutrients market. Micronutrients play a critical role in improving animal health, and the growing dependency of the global population on animal products, like eggs, milk, and meat, among others, is leading to the rising demand for micronutrients in animal feed. The development of the animal husbandry sector in emerging countries is contributing to the market expansion. Additionally, the government initiatives to support the livestock sector and promote animal health in order to meet the increasing food security concerns are aiding the market growth. Further, the rising spending on livestock farming and the new product launches by the leading market players to expand their product portfolio of animal health and nutrition are expected to augment the market over the forecast period.
Key Players in the Global Market for Animal Feed Micronutrients
The report gives a detailed analysis of the following key players in the global animal feed micronutrients market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Cargill Incorporated
- Nutreco N.V.
- Kemin Industries, Inc.
- Archer Daniels Midland Company
- Lallemand Inc.
- Aries Agro Limited.
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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Animal Feed Micronutrients Market Report Snapshots
Animal Feed Micronutrients Market Size
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2021, the global animal feed micronutrients market attained a value of nearly USD 1.65 billion.
The market is assessed to grow at a CAGR of 6.20% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach almost USD 2.37 billion by 2027.
The major market drivers include the rising demand for manganese in animal feed, increasing focus on animal health and nutrition, increasing livestock population in developing countries, and increasing government expenditure on the development of the livestock sector.
The key trends guiding the growth of the market include the growing dependency of the global population on animal products, growing prevalence of diseases due to nutritional deficiency, and new product launches by market players.
The major regions are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The significant products of animal feed micronutrients include manganese, iron, boron, zinc, and copper, among others.
The various applications of animal feed micronutrients include ruminants, swine, poultry, equine, and aqua, among others.
The major players in the market are Cargill Incorporated, Nutreco N.V., Kemin Industries, Inc., Archer Daniels Midland Company, Lallemand Inc., and Aries Agro Limited., among others.
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