Feed Micronutrients Market to grow at over 7.5% CAGR to 2024
OCEAN VIEW, Del., Nov. 2, 2017 /PRNewswire-iReach/ -- Global Feed Micronutrients Market will be valued USD 2 billion by 2024; according to a new research report by Global Market Insights, Inc. Shifting preference towards high quality meat and dairy products will drive the feed micronutrients market growth. Weight gain, enhancing food absorption along with improving overall animal health are among key factors fueling product demand.
Changing consumer diet towards more nutritious food will drive meat demand hence completely impacting feed micronutrients market. Increasing spending on animal health maintenance owing to rising disease outbreak among livestock has positively influenced product demand.
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Zinc will generate over USD 350 million in revenue by 2024. Improving immunity, stabilizing membranes, enhancing antioxidant enzyme and maintaining lymphocyte replication are the key properties driving the product demand. Copper will witness growth over 6% up to 2024. High product adoption due to benefits including high iron absorption potential, improving metabolism & skin color will drive feed micronutrient market growth.
Supportive government compliances on bio-based products will drive the industry growth. High R&D investment and product development by key manufacturers will enhance product penetration. However, lack of awareness accompanied by non-willingness to pay on feed micronutrients may hamper feed micronutrient market growth.
Poultry was worth over USD 540 million in 2016. Increasing demand for processed food coupled with egg consumption will propel the industry growth.
Ruminants will generate over USD 500 million in revenue by 2024. Rising milk consumption globally will facilitate industry growth. For instance, annual milk consumption in developing countries was around 55 kg per capita in 2016 and expected to reach 66 kg by 2030.
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North America feed micronutrients market was valued over USD 365 million in 2016. Rising demand for nutrient rich meat to ensure healthy diet are the key factors positively influencing the product demand. Strong outlook for vitamins, ferments and emulsifiers in this region due to presence of livestock breeding centers will support the business growth.
Asia Pacific, led by China feed micronutrients demand was over 80 kilotons in 2016. Increasing health awareness along with rising consumption of milk, curd, cheese & yogurt are the key factors driving growth.
Global feed micronutrients market share is moderately fragmented due to presence of multinational as well as domestic manufacturers. Cargill, Aries Agro, Nutreco N.V., ADM, Agrium Advanced Technologies, Balchem Corp., Qualitech, Alltech, Kemin, Lallemand, Gawrihar Bio-Chem, Novus International and Zinpro Corporation are among the key industry players.
Browse key industry insights spread across 250 pages with 206 market data tables & 10 figures & charts from the report, "Feed Micronutrients Market Size By Product (Trace Minerals [Iron, Zinc, Manganese, Copper, Boron], Vitamins [Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, Vitamin K, Carotenoids]), By Livestock (Poultry, Ruminant, Aquaculture, Swine, Equine) Industry Analysis Report, Regional Outlook (U.S., Canada, Germany, UK, France, Italy, Russia, Spain, China, India, Japan, South Korea, Australia, Thailand, Indonesia, Vietnam, Brazil, Mexico, Argentina, Saudi Arabia, UAE, South Africa), Growth Potential, Price Trends, Competitive Market Share & Forecast, 2017 – 2024" in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/feed-micronutrients-market
Chapter 5. Feed Micronutrients Market, By Livestock
5.1. Feed micronutrients market share by livestock, 2016 & 2024
5.2. Poultry
5.2.1. Market estimates and forecast, 2013 - 2024
5.2.2. Market estimates and forecast, by region, 2013 – 2024
5.3. Ruminant
5.3.1. Market estimates and forecast, 2013 - 2024
5.3.2. Market estimates and forecast, by region, 2013 – 2024
5.4. Aquaculture
5.4.1. Market estimates and forecast, 2013 - 2024
5.4.2. Market estimates and forecast, by region, 2013 – 2024
5.5. Swine
5.5.1. Market estimates and forecast, 2013 - 2024
5.5.2. Market estimates and forecast, by region, 2013 – 2024
5.6. Equine
5.6.1. Market estimates and forecast, 2013 - 2024
5.6.2. Market estimates and forecast, by region, 2013 – 2024
Browse Full TOC @ https://www.gminsights.com/toc/detail/feed-micronutrients-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Media Contact: Arun Hegde, Global Market Insights, Inc., +13028467766, [email protected]
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