Global Animal Feed Micronutrients Market was worth USD 1236.02 Million in 2016 and is expected to reach USD 1661.9 Million by 2021 with a CAGR of 6.1 %.
The Animal Feed Micronutrients Market is observed to be developing at a significant pace, because of the rising populace resulting in rising demand for meat and an inclination of customers towards the healthy food, over the globe.
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Animal Feed Micronutrients market incorporates minerals such as zinc, iron, magnesium, copper, and others utilized for Livestock. Animals require micronutrients in the appropriate amounts to improve lactation, development, and reproduction.
Irregularity or insufficiencies may bring about suboptimal performance and poor health of the Animal.
Micronutrients are the source of vitality, protein, minerals, and vitamins. They perform multifaceted functions in Animal production and growth and furthermore contribute in catalyst system operations.
Rising interest of owning pet animals, growing expenses on animal wellbeing and wellness combined with success of animal feed micronutrients in development and fertility of the animals are some of the major factors driving the animal feed micronutrients market. Furthermore, the rising demand for animal protein from milk and meat delivering cattle combined with recent illness epidemic in cattle is further driving the animal feed micronutrients market.
The critical dosage use of animal feed micronutrients and dearth of awareness about the advantages of micronutrients among uneducated and poor farmers are major factors restraining the animal feed micronutrients industry.
Based on different types of Animal Feed Micronutrients, Market is segmented into Zinc, Iron, Manganese, Copper, and Others. Based on use of Animal Feed Micronutrients by different livestock, Market is segmented into Ruminant, Poultry, Aqua, Swine, Equine and others.
Geographically, this market is further segmented in to North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Asia-Pacific is the largest market because of its rapid economic growth and large population.
Asia-Pacific is also the fastest growing region during the forecast period. Meanwhile, North America is growing at a substantial CAGR is likely to be the second largest market by the end of the forecast period.
Major companies operating in the global market include Archer Daniels Midland Company (ADM), Balchem Corp., Lallemand Inc, Alltech Inc., Cargill Inc., Novus International Inc., Kemin Industries Inc., Zinpro Corporation, Nutreco N.V. and Qualitech Inc.
Scope of the Report
- Regional and country-level analysisand forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
- Segment-level analysisin terms of technology, component, and type along with market size forecasts and estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC)in the market and their impact on shifting market dynamics
- Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographic, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
- Study the micro environment factors that determine the overall profitability of an Industry, using Porter’s five forces analysisfor analysing the level of competition and business strategy development
- A comprehensive list of key market playersalong with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
- Competitive landscape analysislisting out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis and main conclusions
- Expertly devised analyst overview along with Investment opportunitiesto provide both individuals and organizations a strong financial foothold in the market
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