LOS ANGELES, June 24, 2019 (GLOBE NEWSWIRE) -- The global feed micronutrients market is estimated to grow at CAGR above 7.1 % over the forecast time frame 2019 to 2026 and reach the market value around USD 2.2 billion by 2026.
The development of feed micronutrients in the industry will drive the preference for high quality meat and milk products. Weight gain, increased food absorption and improved general animal health are main variables that fuel demand for products.
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Change to more nutritious diets will increase the demand for meat therefore have an impact on the market for feed micronutrients. Increased livestock health care expenditure as a result of the increasing epidemic of disease has had a positive impact on product demand.
By 2026, Zinc generates income of more than US$ 400 million. The important characteristics driving product demand are improvements in immunity, stabilisation, and enhancement of the antioxidant enzyme and maintenance of lymphocyte reproduction. Copper will be experiencing development of over 6% by 2026. High product acceptance, including elevated potential for iron absorption, will drive the development of feed micronutrients market by enhancing their metabolism and skin colour.
In 2018, the value of poultry exceeded USD 570 million. Growing demand for processed and egg consumption foods will stimulate the development of the sector.
By 2026, ruminants are to produce revenues of more than USD 530 million. The global increase in milk consumption will promote development in the sector. In developing nations, for example, annual milk consumption was approximately 55 kg / capita by 201 66 kg by 2030.
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Asia-Pacific was more than 80 kilotons in 2018, leading by China's food micronutrient demand. The main drivers of development are increased health awareness, as well as the increase in milk, curd, cheese and yoghurt consumption.
By 2026, the European market will be worth more than USD 600 million. The product demand will be driven by the favorable public laws on organic products. The sector growth is anticipated to boost fodder sector development and development in livestock farming & breeding.
The increasing demand for feed micronutrients in the agricultural sector is driven by the increasing knowledge of sophisticated animal husbandry methods and reduced livestock production schedules within the farming society. The increase in food supply in feed micronutrients is also heavily caused by the world's increasing population, where milk and poultry products are in increasing need. Demand for high-quality animal feed micronutrients has grown in public knowledge of the ethical manufacturing of animal products. Feed micronutrients are also quicker than traditional feeding techniques in terms of outcomes. As a result, more farmers and livestock companies have become component of the animal feeding system with animal feed micro-nutrients.
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Feed micronutrients are vital fodder additives to the feed of the animals that can not acquire sufficient vitamins and nutrients from standard feedstuffs to increase the output, development and health of the animals. They contribute to disease prevention and cure and increase the digestibility of livestock. They become increasingly popular, primarily because of enhanced apps as a growth promoter with beneficial outcomes for digestibility enhancements, the maximum reproductive rate and disease prevention and cure.
Key Players & Strategies
Because of the fact that few major businesses are present, amongst them Novus International Inc., Phibro Animal Health Corp., Royal DSM NV, Zinpro Corp., Alltech inc., Cargill inc. Nutreco, global market shares for feed micronutrients are extremely competitive. These sector players are critical strategies for collaborations, mergers, acquisitions, product improvements, supply chain contracts. In January 2016, for example, Nutreco announced that it would acquire micronutrients to strengthen its portfolio of animal nutrition businesses.
Other notable players include Mercer Milling Co. Inc., Pancosma SA, QualiTech Corp., Ridley Inc., Kemin Industries Inc., Tanke Biosciences Corp., Biochem Lohne Germany, U.S. Rare Earth Minerals Inc., and Vamso Biotec Pvt. Ltd.
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