The report on global animal feed micronutrients market provides qualitative and quantitative analysis for the period of 2015 to 2023. According to the report the global animal feed micronutrients market is projected to reach USD X.XX billion by 2023, growing with a CAGR between 6.7% from 2017 to 2023. The global animal feed micronutrients market was worth USD X.XX billion in 2015.
The report identified that the global animal feed micronutrients market is driven by factors such as rising interest of owning pet animals, growing expenses on animal wellbeing and wellness combined with the success of animal feed micronutrients in the development and fertility of the animals. Micronutrients play a crucial role in livestock production as they improve health, enhances growth and reproductive performance and is majorly driving the market growth. On the other hand, the restraining factor identified in the study includes critical dosage application of animal feed micronutrients.
Consistently increasing livestock production worldwide anticipated to bring growth opportunities for the major players in this market. Lack of awareness about the advantages of micronutrients among the poor and uneducated farmers is the key challenge for the animal feed micronutrients industry.
The report segments the global animal feed micronutrients market by type, by livestock and region. The segmentation based on type includes zinc, iron, manganese, copper, and others. On the basis of livestock, the market is segmented as poultry feed, aqua feed, ruminant feed, pork (swine) feed, horse feed.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography is provided over the period of 2015 – 2023. APAC is the key market for animal feed micronutrients closely followed by North America. The Asia Pacific and North America collectively accounted for over 60% market share in the global market. Growth in this APAC region is highly attributed to strong economic growth coupled with rapid population growth in the major market such as India and China. Moreover, U.S. drives the North America market and it is expected to grow at healthy CAGR, owing to increasing livestock population. Brazil and Argentina are other prominent markets for animal feed micronutrients driven by demand for dairy and dairy product market in rest of the world region.
The companies covered in the report include Cargill Inc., Nutreco N.V., Archer Daniels Midland Company (ADM), Kemin Industries Inc., Lallemand Inc, Alltech Inc., Novus International Inc., Balchem Corp., Zinpro Corporation.
The report provides deep insights on demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of animal feed micronutrients globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and DRO analysis of animal feed micronutrients. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the animal feed micronutrients market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market strategy of the key players in the market. This report will help manufacturers, suppliers and distributors of the animal feed micronutrients market to understand the present and future trends in this market and formulate their strategies accordingly.