2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!

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

The feed micronutrient market is anticipated to grow due to the increasing demand for poultry products. Poultry products, which include items from domesticated birds like chickens, turkeys, ducks, geese, and quails, have a high demand because of their nutritional content, flexibility in various culinary uses, and cultural importance in several societies. Feed micronutrients play a crucial role in poultry diets as they assist in maintaining good health, productivity, and quality in birds, ensuring they receive the necessary nutrients in various production conditions. For example, a report from the Food and Agriculture Organization of the United Nations (FAO), a US-based government body, in December 2023, has stated that global poultry meat production reached 142 million metric tons in 2023, showing a 1% rise compared to the prior year. Likewise, the global ovine meat production was 17.0 million metric tons in 2023, indicating a 1.7% yearly increase. Hence, the rise in demand for poultry products is pushing the growth of the feed micronutrient market.

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

The market size of feed micronutrients has witnessed substantial growth of late. Predictions indicate an increase from $1.86 billion in 2024 to $1.99 billion in 2025, registering a compound annual growth rate (CAGR) of 7.1%. The past growth trend can be attributed to factors such as a surge in meat product demand, enhanced livestock production, growth in per capita income, a rising need for vitamins to enhance immunity, and an increased demand for antioxidants in feed micronutrients.

In the forthcoming years, the feed micronutrients market is projected to exhibit significant growth, expanding to $2.6 billion by 2029, growing at a compound annual growth rate (CAGR) of 7.0%. The growth anticipated in this period is largely due to the rising demand for dairy, poultry and other products, the need for feed micronutrients by ruminants, and a growing consumer preference for poultry products. Other factors fueling market growth include the increasing demand for top-quality animal products and the rising use of antioxidants in feed micronutrients. The increasing adoption of sustainable practices, product innovation, and strategies to enhance nutritional content are the key trends forecasted for this period. Additionally, escalating expenses on animal welfare, increased usage of feed micronutrients, and a growing understanding of feed quality are also predicted to spur market growth.

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What Are the Current Market Growth and Trends in theFeed Micronutrients Market That Industry Players Should Watch?

Leading firms in the feed micronutrient market are concentrating their efforts on producing novel products such as organic-compliant chromium propionate feed components to cater to the increasing need for sustainable and efficient animal nutrition interventions. The organic-compliant chromium propionate feed component is a nutritional supplement utilized in animal feeds that adheres to the standards and guidelines set for organic farming. For example, in January 2024, Kemin Industries Inc., an American specialty ingredients firm, officially announced the FDA’s sanctioning of chromium propionate’s use in the diets of growing turkeys, hence constituting a significant milestone for animal nutrition. This sanction enables the application of chromium propionate, more specifically Kemin’s KemTRACE Chromium, in not only turkeys but also in swine, broiler chickens, cattle, and horses.

What Are the Major Market Players Making an Impact on theFeed Micronutrients Market Growth?

Major companies operating in the feed micronutrients market are Cargill Incorporated, Archer Daniels Midland Company, BASF SE, Tyson Foods Inc., Evonik Industries AG, Syngenta Group, Nutreco N.V., Alltech Inc., Lallemand Inc., Kemin Industries Inc., Godrej Agrovet Ltd., Phibro Animal Health Corporation, Ridley Inc., Purina Animal Nutrition LLC, Zinpro Corporation, Novus International Inc., Biochem GmbH, Pancosma SA., Pancosma S.A., Procare Solutions, Tanke Industry Group, QualiTech LLC, Mercer Milling Company Inc., Davidson Brothers (Shotts) Ltd.

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How Are the Key Segments of the Feed Micronutrients Market Driving Opportunities and Innovations?

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 Regions Are At the Forefront of #How Are Key Drivers in the Industry Acting as Catalysts for the Growth of theFeed Micronutrients Market?# Market Expansion?

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.

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