Feed Micronutrients Market Value Worth $2,000 Million by 2025

Global Market Insights, Inc.

SELBYVILLE, Delaware, June 25, 2019 /PRNewswire/ -- North America feed micronutrients market accounted for more than 25% revenue share in 2018. Growth in number of dairy farms in the region will foster the demand for product in the market. Meat and poultry industry are the largest segment in U.S. agriculture where meat production accounted for 52 billion pounds and poultry production for 48 billion pounds in 2017. Rising population has resulted in greater demand for animal-based foods propelling the industry share.

Feed micronutrients market from trace minerals generated over USD 500 million in 2018. Rising demand for organic minerals owing to its beneficial effects on animal performance pertaining to bioavailability of micronutrients will drive the market for trace minerals. Continuous degradation of soil and changing climatic conditions due to global warming has resulted in deficient availability of nutrients in fodder. Increasing use of trace minerals in dietary supplements to improve the quality of animal-based foods and reproductive efficiency of animals will propel the demand.

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Ruminants segment is anticipated to witness CAGR at over 7.5% from 2019 to 2025. Rising awareness about ruminant health along with the surging side effects caused by chemically processed products will augment the industry landscape. Importance of animal nutrition in optimum food composition for long term human health will propel the demand for feed micronutrients. Additionally, increasing demand for feed micronutrients in agricultural community owing to advances in animal husbandry practices will drive the market.

Global Feed Micronutrients Market is projected to surpass USD 2,000 million by 2025; according to a new research report by Global Market Insights, Inc. Increasing fortification of animal feeds for addressing micronutrient deficiencies coupled with growing expenses on animal wellbeing and wellness is expected to exhibit a positive influence on the growth of the feed micronutrients market. Feed micronutrients help in prevention and cure of diseases, improve the digestibility, fertilization and enzyme system operation in animals, this is likely to propel its utilization in ruminant nutrition over the forecast period. In addition, increasing utilization of dairy products in the food & beverage industry in the form of butter, cheese, curd, and cream is expected to drive the product demand.