The global animal feed micronutrients market is
expected to reach USD 2.12 billion by 2025, according to a new report by Grand
View Research, Inc. The demand is expected to grow significantly over the
coming years on account of high application scope coupled with increasing
utilization in poultry application.
The market is driven by the capability of
the product to increase the weight and improve the overall health of the
animals. The deficiency of micronutrients can lead to hardening & cracking
lesions on pig skin and slow growth, poor feathering, & abnormal skeletal
development in poultry. This is likely to have a positive impact on the
consumption over the forecast period.
Asia Pacific was the major consumer of the
product in 2016 and is expected to witness growth at a CAGR of 7.8% from 2017
to 2025. Factors such as rapid urbanization, growing population, and rising
consumer willingness to spend are expected to increase the demand for various
kinds of meat including pork and beef, thereby leading to the market growth.
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http://www.grandviewresearch.com/industry-analysis/animal-feed-micronutrients-market
Further key findings from the report suggest:
· Zinc was the largest product segment and
accounted for a revenue share of 31.4% in 2016 due to its ability to maintain
appetite, skin & skeletal health, reproductive efficiency, and strong
immune system
· Boron, a trace mineral, is majorly found in
fruits, vegetables, nuts, and legumes. The demand for the product is likely to
grow on account of its ability to regulate bone development, brain function,
mineral metabolism, substrate energy usage, immunity, and insulin creation.
· Aqua feed is expected to grow at a CAGR of
5.9% from 2017 to 2025 due to the growing importance of aquaculture to fulfil
the high demand for seafood
· Central & South America accounted for a
share of 11.0% of the global market in 2016. It is expected to be the third
fastest growing region on account of high feed production growth in Argentina,
Bolivia, and Paraguay
· In March 2017, Archer Daniels Midland
Company announced the expansion of its animal food business in China with
investments in new feed-premix facilities
· In April 2016, Cargill invested
approximately USD 25 million to expand its animal nutrition plant in Spain in
an attempt to help the company strengthen its position in Europe
Grand View Research has segmented the
global animal feed micronutrients market on the basis of product, application,
and region:
Animal Feed Micronutrients Product Outlook (USD
Million; 2014 - 2025)
·
Iron
·
Manganese
·
Zinc
·
Boron
·
Copper
·
Others
Animal Feed Micronutrients Application
Outlook (USD Million; 2014 - 2025)
·
Ruminant
·
Poultry
·
Swine
·
Aqua
·
Equine
·
Others
Animal Feed Micronutrients Regional Outlook
(Revenue, USD Million; 2014 - 2025)
·
North America
·
Europe
·
Asia Pacific
·
Central & South America
·
Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting
services. To help clients make informed business decisions, we offer market
intelligence studies ensuring relevant and fact-based research across a range
of industries, from technology to chemicals, materials and healthcare.
