Industry: Food and Beverages
Published Date: October-2024
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 175
Report ID: PMRREP3306
The animal feed micronutrients market is estimated to increase from US$1.72 Bn in 2024 to US$2.83 Bn by 2031. The market is projected to record a CAGR of 6.5% during the forecast period from 2024 to 2031.The market is driven by rising global meat consumption and the shift toward antibiotic-free livestock with strong growth expected in emerging markets.
Key Highlights of the Market
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Market Attributes |
Key Insights |
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Animal Feed Micronutrients Market Size (2024E) |
US$1.72 Bn |
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Projected Market Value (2031F) |
US$2.83 Bn |
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Global Market Growth Rate (CAGR 2024 to 2031) |
6.5% |
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Historical Market Growth Rate (CAGR 2019 to 2023) |
5.9% |
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Region |
Market Share in 2024 |
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Asia Pacific |
32% |
Asia Pacific region led the global animal feed micronutrients market and estimated to account for 32% of the overall market share. The market value for these micronutrients is anticipated to expand at a staggering rate with the most significant growth expected in Asia Pacific where China is forecasted to be the market leader.
The expansion of the animal micronutrients market is primarily driven by rising urbanization, heightened local demand for meat, and prospects for meat exports. Asia Pacific dominated the global market owing to the robust economic and demographic expansion, which are the primary catalysts propelling market advancement in the region particularly in India and China.
The substantial consumption of milk and meat in Asian countries contributes to this segment's rise. China and India are now the two nations with the high meat consumption due to their substantial populations. India consumes over 80,000 metric tons of milk annually. Yet, China is a leading consumer of pork with an annual per capita consumption of 30 kg, a little less than that of the entire European Union.
Numerous East Asian nations including Vietnam, Indonesia, and Japan consume sea food such as salmon and tuna alongside pork and beef.
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Category |
Market Share in 2024 |
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Type - Minerals |
40% |
The animal feed micronutrients market is segmented into vitamins and minerals based on type. Among these, the minerals type segment dominates the market. Cobalt, copper, iodine, iron, manganese, selenium, and zinc are essential trace elements for optimal cattle nutrition. Mineral deficiencies, a prevalent animal issue cannot be addressed with conventional feed.
The need for superior quality animal feed micronutrients is anticipated to propel the micronutrient market throughout the forecast period. Minerals are essential for the development of functional ovaries, adequate production of high-quality sperm, and enhanced embryo viability.
Enhanced weight gain is another benefit of minerals, which is why they are anticipated to be the primary determinants influencing the animal feed micronutrients market size over the forecast period.
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Category |
Market Share in 2024 |
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Animal Type - Poultry |
45% |
The market is divided into ruminants, poultry, swine, and aquaculture based on animal type. Among these, the poultry animals segment dominates the market. The poultry sector is estimated to account 45% of the market share in 2024.
Micronutrients are crucial for the comprehensive development of layers and broilers. These enhance the birds' reproduction, health, and general performance, which are anticipated to propel market expansion. The demand for the product in swine applications represented the second-largest share.
Feed is critical in effectively rearing pigs, comprising around 60% to 75% of the total costs incurred. Consequently, emphasis is placed on supplying pigs with essential nutrients is expected to enhance product usage. Producers are striving to enhance the vitamin consumption in fish to prevent deficits. These reasons are expected to elevate the need for micronutrients in aquatic applications.
The demand for micronutrients in equine feed is anticipated to experience slow growth due to a decrease in equine feed production across many regions. The decreasing incidence of horse ownership and the elevated feed cost are the primary factors influencing the market.
Micronutrients in animal feed in contrast to macronutrients are essential nutrients needed in minimal quantities for the optimal growth of an organism. Despite being needed in small quantities, animal feed micronutrients are crucial for appropriate biological function, as numerous critical physiological processes rely on their availability.
Vitamins and minerals constitute two primary segments of the animal feed micronutrients market. The ruminants segment regularly dominates the animal feed micronutrients market in terms of volume but by a narrow margin compared to other categories. Due to the continuous increase in meat production and consumption, livestock producers have struggled to meet the demand. It has increased the need for compound feed and micronutrient products.
Aquaculture constitutes a minor segment of the overall consumption of animal feed micronutrients. However, it is swiftly supplanting wild fishing due to its sustainability and the increasing global demand for fish.
The increasing demand for animal feed micronutrients in agriculture is driven by heightened awareness within the agricultural community regarding sophisticated animal husbandry practices and reduced timelines for livestock production. The increase in demand for animal feed micronutrients is significantly linked to the rising global population and the corresponding requirement for dairy and poultry products.
The animal feed micronutrients market witnessed steady growth prior to 2023 driven by rising awareness of livestock health and nutrition, increasing global meat consumption, and the growing need to enhance feed quality to improve animal productivity.
Micronutrients like zinc, copper, iron, and manganese became essential components of animal feed because they improved immunity, growth, and reproductive efficiency in livestock. Pre-2023, North America and Europe dominated the market due to their advanced animal husbandry practices and higher demand for high-quality meat products.
Post-2024, the market is projected to expand further supported by increasing demand in emerging markets particularly in Asia Pacific and Latin America. The growing livestock industry in these regions and rising consumer awareness about meat quality and food safety will drive demand for feed micronutrients.
Technological advancements in micronutrient formulations and delivery methods such as precision feeding are expected to boost growth. Regulatory initiatives promoting sustainable livestock production and reducing antibiotic usage will push the demand for feed micronutrients as an alternative for maintaining animal health. The market is poised to witness robust growth, with a focus on innovation and sustainability.
Increasing Demand for Meat and Animal-based Products
One of the key growth drivers for the animal feed micronutrients market is the increasing global demand for meat and animal-based products. As populations grow and incomes rise, particularly in developing regions like Asia Pacific and Latin America, meat, dairy, and poultry consumption is surging. This trend has amplified the need for high-quality animal feed to enhance livestock growth, health, and productivity.
Zinc, copper, and manganese are essential in ensuring optimal nutrition, boosting immunity, and improving overall animal performance. As livestock producers focus on meeting the rising demand for meat, they increasingly incorporate these essential micronutrients into animal diets to achieve better feed conversion ratios and healthier animals, thus driving market growth.
Focus on Animal Health and Disease Prevention
There has been a growing emphasis on enhancing animal immunity through proper nutrition, with the global push toward reducing antibiotic usage in animal farming. Micronutrients in animal feed such as selenium, iodine, and iron, are critical in boosting the immune system and preventing diseases in livestock. This trend has gained momentum, especially after the implementation of stringent regulations in many regions, including the EU and North America, which restrict the use of antibiotics as growth promoters.
As livestock producers increasingly seek natural alternatives to antibiotics, the demand for feed micronutrients which support animal health without compromising productivity, is expected to rise. This shift toward preventive health care in livestock farming is a crucial driver for the market.
High Cost of Micronutrient-Enhanced Feed
One of the significant restraints for the animal feed micronutrients market is the high cost of incorporating micronutrients into animal feed. Micronutrient-enriched feeds tend to be more expensive due to the cost of raw materials, complex production processes, and the need for precision in formulation.
Small and medium-scale livestock farmers, especially in developing regions, often struggleneed help to afford these premium feed products. This cost barrier can lead to limited adoption, particularly in price-sensitive markets.
Fluctuations in the prices of minerals and other micronutrients further exacerbate the challenge, as producers may hesitate to invest in more expensive feed solutions especially when faced with volatile market conditions or lower profitability in animal farming.
Lack of Awareness and Technical Expertise
Another growth restraint for the market is the lack of awareness among livestock farmers, particularly in emerging markets, about the benefits of feed micronutrients.
Many farmers are unaware of the long-term advantages of incorporating essential micronutrients into animal diets, such as improved growth rates and disease resistance. Even when there is awareness, the technical expertise required to optimize the use of these micronutrients is often lacking.
Improper administration or dosage of these nutrients can lead to inefficiencies and poor animal health outcomes, reducing the perceived value of these products. This lack of education and technical know-how hampers market growth, as farmers may choose less expensive or more familiar feed options, even at the cost of reduced animal productivity.
Rising Demand for Organic and Natural Animal Feed
A transformative opportunity in the animal feed micronutrients market lies in the growing consumer demand for organic and natural animal products. As more consumers prioritize ethically produced, organic, and chemical-free meat and dairy products, there is increasing pressure on livestock farmers to adopt feed solutions that align with these preferences.
Organic livestock farming often restricts the use of synthetic additives and antibiotics, which opens the door for natural micronutrient solutions.
Micronutrients derived from natural sources, such as plant-based minerals and vitamins, are gaining popularity as alternatives to synthetic additives. This shift creates a significant growth opportunity for feed manufacturers who develop and promote organic or natural micronutrient solutions.
Growth of Precision Nutrition Technologies
The emergence of precision nutrition technologies presents a significant opportunity for innovation in the animal feed micronutrients market. Precision feeding allows livestock producers to tailor feed composition based on the specific nutritional needs of individual animals or herds.
By leveraging data analytics, sensor technologies, and real-time monitoring, farmers can optimize micronutrient intake to improve animal health and growth efficiency. This approach helps reduce feed waste, lower production costs, and maximize livestock productivity.
Feed manufacturers who incorporate advanced technologies, such as chelated micronutrients or time-released formulations, can benefit from this trend, particularly in developed regions where technological adoption in agriculture is more prevalent.
The animal feed micronutrients market is highly competitive with several key players focusing on product innovation and geographical expansion. Leading companies such as Cargill, Archer Daniels Midland (ADM), Nutreco, and Zinpro Corporation dominate the market by offering a wide range of micronutrient products, including zinc, copper, and manganese, for enhanced livestock performance.
Companies are investing in research and development to produce more effective and bioavailable micronutrients, such as chelated minerals, which are easier for animals to absorb.
Regional players in emerging markets are gaining traction by offering cost-effective solutions tailored to local needs. Strategic mergers, acquisitions, and collaborations are common as companies seek to strengthen their market presence and meet the growing demand for animal nutrition.
Recent Industry Developments in the Animal Feed Micronutrients Market
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Attributes |
Details |
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Forecast Period |
2024 to 2031 |
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Historical Data Available for |
2019 to 2023 |
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Market Analysis |
US$ Billion for Value |
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Key Regions Covered |
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Key Market Segments Covered |
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Key Companies Profiled in the Report |
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Report Coverage |
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Customization & Pricing |
Available upon request |
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The market is estimated to be valued at US$2.83 Bn by 2031.
The market is projected to exhibit a CAGR of 6.5% over the forecast period.
A few of the leading industry players in the market are Novus International, DSM, and BASF SE.
Asia Pacific region dominates the market accounting for 32% of the market share in 2031.
Poultry animal type leads the market with significant market share.
