On the back of increased attention on sustainability of animal nutrition products in developed and developing nations, the global feed micronutrients market is expected to rise at a strong CAGR of over 6% during the forecast period (2019-2027) and reach a valuation of over US$ 2.5 billion. In terms of quality control and demand, the global market for animal feed micronutrients has undergone a significant transformation in recent years.
In terms of quality and demand, the global market for feed micronutrients has changed. Feed micronutrients are an important livestock feed addition that are often used to improve feed quality in order to improve cattle output and overall health.
The feed micronutrients industry is growing due to the increased usage of vitamins and trace minerals to activate essential enzymes and hormones that are critical to cattle metabolic processes. Government regulations and standards aimed at preventing micronutrient malnutrition and reducing the use of synthetic additives, such as those implemented by the CFIA (Canadian Food Inspection Agency), REACH (Registration, Evaluation, Authorization and Restriction of Chemicals), and the FDA (Food and Drug Administration), will drive sales in the global feed micronutrients market in the near future.
Feed Micronutrients Market: Key Segments
The global market for feed micronutrients is divided into three categories: product type, livestock, and geography.
Feed Micronutrients Market: Key Takeaways
- The growing trend toward clean label products that require regulatory certification is expanding the product variety for feed micronutrients.
- The vitamins category is expected to increase at a CAGR of around 6.5 percent over the forecast period. Vitamins are needed to promote metabolism, immunity, and reproductive health, which is driving sales of feed micronutrients.
- The poultry sector accounted for more than 40% of the worldwide feed micronutrients market. Rapid expansion of poultry product production facilities would broaden the product portfolio, notably in European countries such as Germany, the United Kingdom, France, and Russia.
- APAC accounts for more than a third of the global feed micronutrients market. Consumption of meat and meat-related goods is increasing in rising economies such as Indonesia, India, China, and Japan, which is boosting growth. APAC’s commercial outlook is also brightening thanks to substantial expansion in the animal feed industry.
“Growing bioavailability of micronutrients is paving the path for the feed micronutrients market to see significant gains and generate lucrative roadmaps during the projected period,” Fact.MR Study
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