The Feed Micronutrient Market is predicted to increase significantly at a 6.3% CAGR during the forecast period. The market is estimated to reach USD 3.52 billion by 2033. The global demand for feed micronutrients is expected to surpass USD 1.91 billion, in 2023.
Key Trends Raises the Feed Micronutrients Adoption
| Attributes | Details |
|---|---|
| Feed Micronutrients Market CAGR (2023 to 2033) | 6.3% |
| Feed Micronutrients Market Size (2023) | USD 1.91 billion |
| Feed Micronutrients Market Size (2033) | USD 3.52 billion |
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The global consumption of meat and dairy products is expanding quickly. In 2018, 843 million tonnes of milk were produced worldwide. India produces the most milk in the world (22%), followed by Brazil, China, and the United States.
Dairy and poultry farmers are using animal feed based on micronutrients to increase production rates. And it is projected that this aspect is likely to accelerate feed micronutrient sales in the future too.
| Attributes | Details |
|---|---|
| Market CAGR (2018 to 2022) | 4.6% |
| Market Size (2018) | USD 1.5 billion |
| Market Size (2022) | USD 1.8 billion |
| Market Growth (between 2022 and 2023) | 1.06x |
Another growth factor in the industry is the demand for feed vitamins. The demand for vitamins is rising as people look to improve their immune systems, metabolism, weight, and reproductive abilities. The profit margins of the key players in the feed micronutrients sector are going to benefit as a result.
Growing Government Initiatives
Governments globally are putting rules and standards into place to guarantee the security and caliber of animal feed. This has led to a rise in the demand for feed micronutrients that adhere to these requirements.
Surging Need for Ethical Practices
Concerns over animal welfare and the environmental effects of livestock raising are growing among consumers. As a result, there is an increasing need for feed micronutrients that support the health and welfare of animals and are made ethically and sustainably.
Expanding Zinc Micronutrients Market
The demand for zinc micronutrients is being driven by the growing emphasis on increasing the trace elements in animal diets. A zinc shortage can lead to illnesses including skin parakeratosis, susceptibility to infection, and drowsiness. Hence, the zinc micronutrient market is expanding as sizable and small-scale animal farmers become aware of the benefits of zinc.
Principal Consultant
A significant barrier to the expansion of the global feed micronutrients business is the adverse environmental effects. This includes soil contamination brought on by the usage of components like zinc and copper in animal feed.
People's changing dietary preferences and their stringent religious convictions, which forbid them from following a certain diet. This is pushing them to adopt vegan or vegetarian diets, which hinder market expansion in the years to come.
Europe is expected to have a market CAGR of 6.2% by 2033. Also, the poultry livestock segment's feed micronutrient industry value is expected to reach USD 1.4 billion in the United Kingdom.
Feed micronutrients include trace minerals, critical nutrients, and vitamins that help turkeys, and broilers. To develop more quickly overall, reproduce successfully, and perform better on their own.
Increased consumer demand for more nutrient-dense poultry products, especially in nations like the United Kingdom, France, Germany, and Russia. This is likely to result from increased poultry production. It is projected that demand for chicken goods, including meat, eggs, vitamins, and minerals, is likely to fuel business progress in these countries.
Farmers and producers in the United Kingdom are becoming more aware of the value of feed micronutrients for the well-being and health of animals. There is a raised demand for goods containing feed micronutrients that can assist in increasing animal performance and lower the risk of illness.
New feed micronutrient products that are more effective and efficient than conventional products have been developed as a result of technological advancements. Farmers and producers in the United Kingdom have adopted feed micronutrients at a higher rate as a result.
To enhance the general health and welfare of animals, the feed micronutrients in the United States market focus on animal feed. For appropriate physiological function, growth, and development, micronutrients are necessary nutrients that must be consumed in very small amounts.
In the United States, DSM Nutritional Products, BASF SE, Cargill, Archer Daniels Midland Corporation, and Nutreco NV are the key market participants in the feed micronutrient sector. These businesses provide a selection of premixes and blends that are customized for particular animal species and production systems. As well as feed micronutrient goods including vitamins, minerals, and trace elements.
The rising demand for premium animal products like meat, milk, and eggs is driving the United States demand for feed supplements with micronutrients like vitamins, minerals, and trace elements to increase their nutritional content.
With the leading population in the world and shifting dietary preferences, there is a rising demand for meat and dairy products in China. To meet the growing demand for animal products, feed micronutrients are crucial for the healthy growth and development of animals. As a result, China is anticipated to expand at a CAGR of 6.4% by 2033.
In recent years, due to the significance of animal nutrition for human nutrition and health, as well as for the welfare of animals. As a result, there is now a greater need for feed micronutrients that can assist boost animal performance and lower the risk of illness.
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Throughout the forecast period, the trace minerals segment holds the top spot.
According to products, the trace minerals segment accounted for over 3/5th of the feed micronutrients sector in 2022. The segment is anticipated to dominate the market during the forecast period.
For the development of healthy ovaries, ample supplies of high-quality sperm, and enhanced embryo survival is made. Thus, this may enhance the sector, as there is a necessity for high-quality feed micronutrients with trace elements.
Due to the rising consumption of eggs, milk, and meat in diets around the world, zinc micronutrients are in greater demand. Demand for animal-based products is rising as high-protein diets become more popular, which raises the need for animal farming and wholesome animals.
Zinc micronutrient market for animal feed is expanding due to the rising need for additions to animal diets to enhance metabolism, health, and overall performance. However, the category for vitamins is anticipated to experience a significant CAGR of 7.32% between 2023 and 2033.
This is so because a well-balanced animal diet is built on vitamins. These are essential, irreplaceable micronutrients required for cellular development, growth, reproduction, animal welfare, and overall health.
Throughout the predicted period, the poultry category is likely to hold the top position.
In terms of livestock, the poultry sector accounted for more than 1/3rd of the market in 2022 and is anticipated to hold the leading spot during the forecast period.
The general growth of broiler, layer, and turkey birds is significantly influenced by micronutrients. The performance of poultry birds in terms of reproduction and health is enhanced by the addition of trace minerals, nutrients, and vitamins. The segment's growth is fueled by this element.
Aquaculture, however, is anticipated to see a potential CAGR of 7.6% from 2023 to 2033. Increasing production and expanding aquaculture's contribution to fight against poverty and malnutrition, raising the importance of micronutrients.
To meet the changing needs of consumers, businesses are also investing in research and development efforts to create new items and broaden their product lines. Companies frequently use partnerships, collaborations, and mergers and acquisitions to expand their global reach and strengthen their market positions.
Recent Development
North America, Europe, Asia Pacific are prominent regions in the market.
The market is expected to record a growth of 6.3% through 2033.
The market registered a CAGR of 4.6% from 2018 to 2022.
Increasing demand for natural and organic feed additives is the key trend in the market.
Europe is expected to have a CAGR of 6.2% through 2033, due to poultry livestock segment.
1. Executive Summary | Feed Micronutrients Market
2. Market Overview
3. Market Background
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product
5.1. Trace Minerals
5.2. Vitamins
5.3. Carotenoids
5.4. Others
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Livestock
6.1. Poultry
6.2. Ruminant
6.3. Aquaculture
6.4. Swine
6.5. Equine
7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region
7.1. North America
7.2. Latin America
7.3. Europe
7.4. Asia Pacific
7.5. MEA
8. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
9. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
10. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
11. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
12. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country
13. Key Countries Market Analysis
14. Market Structure Analysis
15. Competition Analysis
15.1. Zinpro Corporation
15.2. Vamso Biotec Pvt. Ltd.
15.3. Tanke Biosciences Corporation
15.4. Royal DSM
15.5. Archer Daniels Midland Company
15.6. Alltech, Inc.
15.7. Ridley, Inc.
15.8. Phibro Animal Health Corporation
15.9. Pancosma SA.
15.10. QualiTech Corp.
15.11. Mercer Milling Company, Inc.
15.12. Davidsons Animal Feeds
15.13. Cargill
15.14. Kemin Industries Inc.
16. Assumptions & Acronyms Used
17. Research Methodology
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Feed Micronutrients Market
