The Animal Feed Micronutrients Market is anticipated to reach about US$ XX Mn by 2024, and anticipated to expand at a CAGR over six years of forecast period 2019-2025 due to nutrients requirement by body in trace amounts for optimum growth of organisms.
Precision Business Insights (PBI) in its report titled “Animal Feed Micronutrients Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2018 and Forecast 2019-2025” assesses the market performance over six years forecast period from 2019 to 2025. The report analyses the market value forecast and provides the strategic insights into the market driving factors, challenges that are hindering the market revenue growth over forecast period.
The animal feed micronutrients market size was accounted for US$ XX Mn in 2018 and anticipated to account for US$ XX Mn by 2025. Decreased availability of nutrients will create a demand for animal feed micronutrients market. The growth in the demand for animal feed micronutrients is highly attributed to the growing population worldwide, with growing need for dairy and poultry products.
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Animal feed micronutrients market segmented on the basis of types, livestock and region.
Ruminants and Poultry Segment is Expected to Dominate the Market
Based on livestock type, the animal feed micronutrients market is segmented as poultry feed, aqua feed, horse feed, ruminants feed, pork feed. Ruminant and poultry are expected to be the dominant segments and are expected to retain market dominance throughout the forecast period due to rising demand for the same from farm owners. Further, rising meat consumption coupled with a rapid shift towards poultry food is anticipated to complement the growth of the market.
Asia-Pacific, Accounts for Major Revenue Share for Animal Feed Micronutrients Market
Precision Business Insights (PBI), animal feed micronutrient market report analyses the market in different regions North America, Europe, Asia Pacific, Latin America and Middle East and Africa. According to regional analysis, Asia Pacific accounted for major revenue share due to large population of cattle in these region. North America and Europe are expected to project fair growth during the forecast period. U.S. is the major market for animal feed micronutrients in North America while Argentina and Brazil are two of the major markets in Latin America. Asia Pacific is the fastest growing region due to the increasing demand for the same from India and China. China and India are the major contributors to the growth of the animal feed micronutrients market in Asia Pacific.
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Acquisitions and Mergers, Collaborations, Joint ventures, and New Product Launch are the key Strategies which Play Vital Role in Animal Feed Micronutrient Market
Acquisitions & mergers, collaborations, joint ventures, and new product launch are the key strategies followed by various companies to increase their market share in global animal feed micronutrients market. For instance, in January 2016, Nutreco acquired the Micronutrients, Inc. for strengthening its micronutrients feed product portfolio. Similarly, in May 2016, Balchem Corporation and BASF collaborated for the development of novel micronutrient feed products in the swine industry for North America region.
Key players in global Animal feed micronutrients market are Archer Daniels Midland Company (U.S.), Lallemand Inc. (Canada), Cargill Inc. (U.S.), Kemin Industries Inc. (U.S.), Nutreco N.V. (Netherlands), Balchem Corporation (U.S.), Novus International Inc. (U.S.), Zinpro Corporation (U.S.), Alltech Inc. (U.S.), Aries Agro Ltd. (India), Agrium Advanced Technologies (Canada), Anco Animal Nutrition Competence GmbH (Austria), Zivo Bioscience, Inc. (U.S.), and NutriQuest (U.S.).
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By Live-Stock Type
Rest of Asia Pacific
Rest of Latin America
Middle East and Africa
Rest of MEA
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