Discover trends, market shifts, and competitive outlooks for the feed micronutrients industry through 2025-2034 with The Business Research Company’s reliable data and in-depth research

What is the Projected CAGR for the Feed Micronutrients Market Size from 2025 to 2034?

The market size for feed micronutrients has seen significant expansion in the last few years. It’s projected to rise from $1.86 billion in 2024 to $1.99 billion in 2025, indicating a compound annual growth rate (CAGR) of 7.1%. The historical growth is due to factors such as heightened meat product demand, amplified livestock production, a rise in per capita income, an increased necessity for vitamins to enhance immunity, and an escalated demand for antioxidants in feed micronutrients.

In the near future, the feed micronutrients market is projected to experience robust expansion. By 2029, it’s expected to reach $2.6 billion, with a compound annual growth rate (CAGR) of 7.0%. This growth during the forecast period is further influenced by increased demand for dairy and poultry products, among others, along with a rise in feed micronutrients consumption by ruminants. High consumer preference for poultry products is also a contributing factor, alongside high-quality animal product demand and a growing interest in antioxidants within feed micronutrients. The forecast period will probably observe a surge in sustainable practices, product innovations, novel approaches to enhance nutritional content, increased spending on animal welfare, acceptance of feed micronutrients, and growing awareness about feed quality.

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How Are Key Drivers in the Industry Acting as Catalysts for the Growth of the Feed Micronutrients Market?

The expansion of the feed micronutrient market is anticipated to be propelled by the escalating demand for poultry products. The term poultry products encompasses an array of food products derived from domesticated birds such as chickens, turkeys, ducks, geese, and quails. Poultry products are sought after for their nutritional content, diverse culinary uses, and their cultural importance in various societies. Feed micronutrients play an integral role in poultry diets, contributing to their overall health, efficiency, and the quality of the resultant products. These micronutrients ensure the necessary nutrients are available for the birds to flourish in diverse production conditions. For example, the Food and Agriculture Organization of the United Nations (FAO), a US-based government body, reported in December 2023 that the global poultry meat production had reached a total of 142 million metric tons that year. This represented a 1% surge from the preceding year. In the same vein, the global ovine meat production also saw a 1.7% annual increase, with the total output standing at 17.0 million metric tons for 2023. Thus, the rising demand for poultry products is a significant factor propelling the growth of the feed micronutrient market.

Which Segments in the Feed Micronutrients Offer the Most Growth?

The feed micronutrients market covered in this report is segmented –

1) By Product Type: Minerals, Vitamins, Carotenoids, Others Product Types

2) By Form Type: Non-Chelated, Chelated

3) By Livestock: Poultry, Aquaculture, Swine, Equine, Other Livestocks

Subsegments:

1) By Minerals: Trace Minerals, Macro Minerals, Chelated Minerals

2) By Vitamins: Fat-Soluble Vitamins, Water-Soluble Vitamins, Pro-Vitamins And Synthetic Vitamins

3) By Carotenoids: Beta-Carotene, Lutein, Zeaxanthin, Astaxanthin

4) By Other Product Types: Amino Acids, Antioxidants, Enzymes, Organic Micronutrients

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What Are the Fastest-Growing Geographies in the Feed Micronutrients Market?

Asia-Pacific was the largest region in the feed micronutrients market in 2023. North America is expected to be the fastest growing region in the market. The regions covered in the feed micronutrients market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Which Emerging Trends that Are Influencing the Feed Micronutrients Industry Evolution?

Leaders in the feed micronutrient market, such as Kemin Industries Inc., are shifting their focus towards the creation of novel products like organic-compliant chromium propionate animal feed ingredients. This meets the increasing need for powerful and sustainable solutions for animal nutrition. This kind of nutritional supplement satisfies the standards and legislation for organic farming. To illustrate, in January 2024, Kemin Industries Inc., renowned for its specialty ingredients, communicated FDA’s endorsement of chromium propionate for its application in turkey diets. This represented a major progression in animal feed nutrition. It has now opened doors for Kemin’s KemTRACE Chromium, a type of chromium propionate, to be incorporated not just in turkey diets but also in the nutrition of swine, broiler chickens, cattle, and horses.

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What Are the Key Elements That Define the Feed Micronutrients Market?

Feed micronutrients are essential vitamins and minerals added to animal feed in small quantities to support overall health, growth, and productivity. These micronutrients are critical in various physiological functions, including immune response, bone development, and energy metabolism.

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