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What Factors Are Driving the Anticipated Growth Rate of the Feed Micronutrients Market Through 2034?

There has been substantial growth in the feed micronutrients market in the last few years. The market size is predicted to increase from $1.86 billion in 2024 to $1.99 billion in 2025, marking a compound annual growth rate (CAGR) of 7.1%. The growth observed in the historic period can be ascribed to a rise in the demand for meat products, an expansion in livestock production, an increase in disposable income, a heightened need for vitamins for immunity enhancement, and a rise in the demand for antioxidants in feed micronutrients.

The market for feed micronutrients is projected to witness a robust increase in its size in the coming years. The market is anticipated to surge to $2.6 billion by 2029 with a compound annual growth rate (CAGR) of 7.0%. This expansion in the predicted period can be ascribed to the escalating demand for various products including dairy and poultry, the growing requirement for feed micronutrients by ruminants, augmented preference for poultry products, and the need for quality animal products. Rising demand for antioxidants in feed micronutrients is also a contributing factor. The forecast period is also marked by significant trends including the adoption of sustainable practices, product development, inventive tactics to enhance the nutritional value, increased spending on animal wellbeing, embracing of feed micronutrients, and heightened awareness regarding feed quality.

What Major Innovations Are Driving the Accelerated Growth of the Feed Micronutrients Market?

The rising consumption of poultry products is anticipated to fuel the expansion of the feed micronutrient market in the future. Poultry products encompass various goods originated from domestic birds, such as chickens, turkeys, ducks, geese, and quails. The rising need for these products is attributed to their nutritional benefits, their broad usage in cooking, and their cultural relevance in multiple societies. Feed micronutrients play a crucial role in the diets of poultry, contributing to their overall health, productivity, and ensuring the quality of their products. They provide essential nutrients required for birds to flourish in diverse production settings. For example, in December 2023, a report by the Food and Agriculture Organization of the United Nations (FAO), a US-based government organization, stated that the worldwide production of poultry meat reached 142 million metric tons in 2023, showing a 1% rise from the previous year. Similarly, the global output for ovine meat was 17.0 million metric tons in 2023, indicating a 1.7% rise from the previous year. Consequently, the escalating demand for poultry products is driving the growth in the feed micronutrient market.

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Who Are the Major Industry Leaders Accelerating Growth in the Feed Micronutrients Market?

Major companies operating in the feed micronutrients market are:

• Huawei Technologies Co. Ltd._x000D_

• Taiwan Semiconductor Manufacturing Company Limited_x000D_

• Intel Corporation_x000D_

• Qualcomm Technologies Inc._x000D_

• Broadcom Inc._x000D_

Which Current Trends Are Having the Most Impact on the Feed Micronutrients Market?

Leading players in the feed micronutrient market are prioritizing the development of innovative products such as organic-compliant chromium propionate feed components to cater to the increasing demand for sustainable and efficient animal nutrition solutions. Organic-compliant chromium propionate feed components are a kind of nutritional supplement used in animal feed that complies with organic farming standards and regulations. For example, Kemin Industries Inc., a specialty ingredients company based in the US, declared in January 2024 that the FDA has approved chromium propionate for use in the diet of growing turkeys, a major breakthrough in animal nutrition. This approval greenlights the use of chromium propionate, particularly Kemin’s KemTRACE Chromium, not only in turkeys but also in swine, broiler chickens, cattle, and horses.

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What Are the Key Components of the Feed Micronutrients Market, and How Do Its Segments Perform?

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

Which Regions Are Key Players in the Growth of 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.

How Is the Scope and Reach of the Feed Micronutrients Market Defined?

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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