Global Market Study on Animal Feed Micronutrients

Market Regional Outlook

On the basis of regional segmentation, the market for animal feed micronutrients is segmented into five different regions: Latin America, North America, Europe, Middle East and Africa, and Asia Pacific. Out of these, Europe region dominated the animal feed micronutrients market, and is predicted to dominate the animal feed micronutrients market for a long period. Countries like China, India, Thailand, and Australia have the major number of consumers for animal feed micronutrients in this region, and the number is growing. Increasing in GDP in developing countries is enabling the consumers to opt for animal feed micronutrients, and since a large share of the economy of developing countries is dependent upon agriculture and animal derived products, the demand for animal feed micronutrients is witnessing an upward trend.

Market Drivers

The rising demand for meat and meat products, combined with the rising demand for ethically-derived animal products has driven the demand for animal feed micronutrients upwards. Increased awareness for advanced agricultural practices regarding livestock production has also had a positive impact on the global animal feed micronutrients market, since most of the livestock production comes from developing regions. A majority of the global share adopting animal feed micronutrients as an integral part of the animal diet proves to be a key driver for the animal feed micronutrients market.

The decreased cost of poultry feed, globally, because of the sustainable production of poultry feed, has optimized the budgets of poultry farmers to include more animal feed micronutrient products and maximize their profits. This is anticipated to prove to be a major driver for the animal feed micronutrients market. Market penetration and operation expansion by market players in the animal feed micronutrients is also anticipated to be a driving factor for animal feed micronutrients market, since availability of the animal feed micronutrients in the rural market is also a major issue that the animal feed micronutrient market is facing.

The global demand for dairy products has also risen in the last decade, this has resulted in increase in demand for animal feed micronutrient products, owing to more consumers opting for animal feed micronutrients to maximize their production.

Market Key Players

Some of the key players in the animal feed micronutrients market are BASF SE, Archer Daniels Midland Company, Novus International, Nutreco N.V., Koninkliijke DSM N.V., Prathista Industries Limited Balchem Corporation, Alltech Inc, Cargill, Incorporated, Bluestar Adisseo Company, Kemin Industries, Lallemand Inc., DALLAS KEITH LTD, Nutreco N.V., Novus International, Inc., Purina Animal Nutrition LLC., AG Solutions, Beachport Corporation Pty Ltd, Zinpro Corporation, Bluestar Adisseo Company, DALLAS KEITH LTD, Qualitech Inc., Aries Agro, Prathista Industries Limited, and others.

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