Animal Feed Micronutrients Market by Type (Zinc, Iron, Manganese, and Copper), by Livestock (Ruminant, Poultry, Aqua, Swine, and Equine) & by Geography - Global Trends & Forecasts to 2019Animal
May 27 2014
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This research report provides an in-depth market insight into the global animal micronutrients market, which is currently witnessing a steady growth owing to the increasing demand for protein-rich convenient food. Micronutrients are added to animal feed to improve their nutritive value and enhance their functionality. The animal micronutrients market is observed to be growing at a steady pace, due to the increasing population resulting in an increased demand for meat and an inclination of consumers towards the healthy food, across the globe.
Micronutrients (or ‘trace elements’) are required in animal diets for health and well-being, and therefore they are essential for the production of milk, meat, fiber, and eggs. It is observed that deficiencies of micronutrients, particularly in their sub-clinical form where they are not visually apparent, can result in major reductions in productivity.
Micronutrients are used mostly as the central elements of enzymes and co-enzymes in the biochemistry of animals. Thus, their deficiency often leads to sub-optimal growth and fertility. Within the farming system, the aim should be to only use supplementation with micronutrients where it is necessary; that is, where an actual or likely deficiency has been diagnosed. Further, the supplement used should be cost-effective and appropriate to the farming system in question. The largest market for animal micronutrients is the Asia-Pacific region, accounting for more than 60% of the total market share.
Some of the key players of the market profiled in this report include Novus International Inc. (U.S), Alltech Inc. (U.S.), Cargill Inc. (U.S), Nutreco N.V. (The Netherlands), and ADM (U.S.).
Source: Expert Interviews and MarketsandMarkets Analysis The report is focused on the detailed study of the animal micronutrients market, by type and livestock, in different geographical regions, with a thorough analysis of the market players in the industry. The global animal feed micronutrients market is expected to grow at a CAGR of 6.1%, and is projected to generate a revenue of $ 1,476.3 million by 2019.
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