Feed Micronutrients Market Size

Feed Micronutrients Market Size

Feed Micronutrients Market size has a size of USD 1.95 billion in 2023 and is projected to expand at over 4.9% CAGR from 2024 to 2032. The market focuses on supplying essential vitamins, minerals, and trace elements to animal feed. These additives aim to bolster animal health, growth, and productivity.

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The market caters to diverse livestock sectors, encompassing poultry, cattle, swine, aquaculture, and equine. It responds to the necessity for precise nutritional blends, which not only enhance feed efficiency but also bolster disease resistance and elevate animal performance. The market's product spectrum includes premixes and supplements, and it thrives on innovations in animal nutrition, supportive regulations, and the rising global appetite for premium animal products. According to the United States Department of Agriculture (USDA), the global demand for animal feed is projected to grow by 3.5% annually, driven by increasing livestock production and consumer demand for high-quality animal products.

Expansive growth in the animal feed sector across emerging countries like Brazil, Mexico, India, and China, will offer a positive business outlook to industry participants. Animal forage that contains low amounts of vital ingredients can lead to inadequate intake of nutrients by livestock. To counter this, farmers and breeders are using feed additives and micronutrients to improve overall livestock health and welfare. New companies and startups are introducing innovative ways to improve the nutritional content of animal feed products. For instance, in August 2022, Loopworm, an insect biotech startup, raised $3.4 billion to fund R&D activities as well as set up its first factory to scale up the production of protein and micronutrient-rich animal feed.

Higher costs associated with the development of feed micronutrients and their negative environmental impacts could restrain industry growth. The presence of ingredients like zinc and copper in these products can contribute to soil pollution. Moreover, surging demands for animal products and struggling supplies of feed raw materials could hamper the growth of the global feed micronutrients industry to some extent.