The feed micronutrient market is set to witness substantial growth, with a projected CAGR of 6.3% from 2023 to 2033, reaching a valuation of US$ 3.52 billion by 2033. This market is driven by key trends such as advancements in micronutrients for animal feed, rising meat consumption globally, and the adoption of advanced animal husbandry methods.
The demand for feed micronutrients is fueled by the growing need for dairy and poultry products, driven by increasing meat consumption in countries like China, India, Brazil, and Australia. Additionally, the industry benefits from the rising emphasis on ethical practices, reflected in the increased spending on livestock breeding.
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Government initiatives globally, focusing on animal feed quality and safety standards, contribute significantly to market growth. The surging need for ethical practices, driven by concerns over animal welfare and environmental impact, is another key growth factor. The expanding market for zinc micronutrients, vital for trace elements in animal diets, further propels the industry forward.
Key Takeaways:
- The Feed Micronutrients Market is forecasted to experience a robust CAGR of 6.3%, reaching US$ 3.52 billion by 2033.
- Rising meat consumption, ethical practices, and the demand for zinc micronutrients are key growth factors.
- Government initiatives and environmental concerns play a pivotal role in shaping the industry’s future.
Investors in the B2B industry should capitalize on the growing demand for feed micronutrients, driven by global trends in meat consumption, ethical practices, and government regulations. The market’s projected growth indicates lucrative opportunities for sustainable and ethical feed micronutrient products.
Critical Approaches Increasing Top Players’ Wealth
The feed micronutrients industry is moderately consolidated, with a few multinational corporations holding the leading market shares. This includes Tanke Biosciences Corporation, Archer Daniels Midland, Vamso Biotec Pvt. Ltd., and Pancosma SA.
Newcomers to the feed micronutrients market confront several obstacles. including tighter restrictions, greater manufacturing costs, and a lack of consumer awareness.
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Recent Developments
- Balancius, the first microbial muramidase, was released in September 2018 by DSM and Novozymes. It is essential for enhancing feed efficiency and digestibility in broilers. The product claims that as a result, the feed conversion ratio of grill chickens increased by 4-6 points (or 3%) overall.
- The current feed enzyme distribution contracts between Cargill and BASF have now access to more markets and R&D resources. As the companies made an announcement of their partnership in October 2021. Through this partnership, it is easier to create, manufacture, promote, and market swine-specific enzyme goods.
Key Segments
Feed Micronutrients by Product:
- Feed Micronutrients as Trace Minerals
- Iron
- Zinc
- Manganese
- Copper
- Boron
- Feed Micronutrients as Vitamins
- Vitamin A
- Vitamin B
- Vitamin C
- Vitamin D
- Vitamin K
- Vitamin E
- Carotenoids
Feed Micronutrients by Livestock:
- Poultry
- Ruminant
- Swine
- Aquaculture
- Others
Feed Micronutrients By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
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