New York, USA, Nov. 24, 2020 (GLOBE NEWSWIRE) -- Research Dive has published a report titled “Animal Feed Micronutrient Market, by Product (Vitamins [Vitamin A, Vitamin B, Vitamin C, Vitamin D, Vitamin E, Vitamin K, Carotenoids], Trace Minerals [Zinc, Copper, Manganese, Iron, Boron], Others), Livestock Feed (Ruminant Feed, Poultry Feed, Equine Feed, Swine Feed, Aqua Feed), Regional Analysis (North America, Europe, Asia-Pacific, LAMEA): Global Opportunity Analysis and Industry Forecast, 2019–2026”
The animal feed micronutrient market is predicted to surpass a revenue of $2,322.3 million by 2026, at a CAGR of 6.8% during the forecast period.
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Regional Analysis
Asia-Pacific market accounted for the highest market share in 2018 and is further likely to generate a revenue of $759.4 million by 2026. Asia-Pacific market is the highest meat producer market in the world. According to FAO, China is the highest meat producer in the world followed by Japan, India, and Indonesia.
Key Segments of the Market
The report has bifurcated the market into different segment based on product, trace minerals, livestock feed, and regional analysis.
• Vitamins segment is foretold to be the most lucrative during the forecast period. The vitamins type generated $439.0 million in 2018 and further expected to surpass $761.7 Million by 2026. Vitamins are organic nutrient indispensable for sustaining good health and immunity.
• By livestock feed, the market is classified into Poultry Feed, Ruminant Feed, Aqua Feed, Equine Feed, and Swine Feed. Poultry feed segment is predicted to be the most profitable by the end of 2026.
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Market Dynamics
Rising demand of meat across the globe is one of the major factors behind the growth of the global animal feed micronutrient market. Moreover, micronutrients help in high milk yield, healthy meat and high growth in the animals. In addition, the rising demand of animal protein from livestock producing milk and meat is another major factor driving the market growth.
The restraining factor behind the growth of this market is the less availability of raw material and requirement of high expenses in R&D.
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Increase in the meat consumers will provide significant investment opportunities for the growth of the industry.
Key Market Players and Strategies
• Nutreco N.V.
• Archer Daniels Midland Company
• Balchem Corp
• Kemin Industries Inc.
• Qualitech Inc.
• Zinpro Corporation
• Lallemand Inc.
• Novus International Inc.
• Cargill Inc.
• Alltech Inc.
The report also summarizes many important aspects including financial performance of the key players, SWOT analysis, product portfolio, and recent strategic developments. Click Here to Get Absolute Top Companies Development Strategies Summary Report.
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