Global Animal Feed Micronutrients Market - Insights, Analysis, and Forecast to 2021
The global animal feed industry has experienced paradigm shift in terms of the demand and quality control over the past few years. It is an important segment of the global food market. Moreover growing health concerns in the global market has significantly impacted the animal feed industry as well. Furthermore, raising awareness about pet care in the global market demand for quality and effective pet food is on the rise. Micronutrients play a crucial role in livestock production as they improve health, enhance growth and reproductive performances. The global animal feed micronutrients market is segmented by types such as zinc, iron, manganese, copper and others. Furthermore based on the livestock the market is further categorized as poultry feed, aqua feed, ruminant feed, pork (swine) feed, and horse feed.
Globally the animal feed micronutrients market is highly fragmented in nature with the presence of several small and medium enterprises (SMEs) as well as large scale manufacturers spread worldwide. ADM, Alltech Inc, Cargill Inc, Novus International Inc, and Nutreco N.V. some of the key players in the market that acquire substantial market share in the global animal feed micronutrients market.
On a regional scale, Asia Pacific is likely to be the largest market for animal feed micronutrients market by 2021 owing to the strong economic growth associate with rapid population growth in its major markets including India and China. Furthermore, animal feed micronutrients market in North America is expected to grow at a substantial CAGR over the next six years and it is likely to be the second largest market after Asia Pacific. The report on global animal feed micronutrients provides insights on the market on a global scale in terms of volume (consumption/application) in million tons and market size in USD million from 2014 to 2021.furthermore, the study focuses on market dynamics including drivers, restrains/challenges and the opportunities. Moreover industry analysis using Porterâs Five Forces model helps the stakeholders to analyze the industry competitiveness and the factors impacting the growth in the market. The competitive landscape in the report provides the market share acquired by large companies and their marketing strategies for growth in this market.