Categories: Food and Beverages
The expansion of the meat and dairy industries due to increasing use would increase the size of the feed micronutrients display. According to the World Health Organization, global meat consumption would reach 45.3 kilogrammes per capita per year by 2030. In domesticated animals, sickness action, weight gain, and a higher sustenance absorption rate are essential indications for increasing product penetration. Customers' growing understanding of the negative impacts of synthetically processed foods will boost demand. Because of the negative effects of grain on animal health as a result of a lack of certain essential elements, the product is an essential supplement in the daily diet of farmed animals.
The growing demand for nutrient-dense meat and dairy products to provide customers with a healthy diet is fueling industry expansion. Demand is expected to be driven by the rapidly growing fodder business in developing nations, as well as increased spending on cattle farming and breeding in China, India, and Brazil. Slow growth, aberrant skeletal development in cattle, hardening and cracking grazes on pigs' skin, and poor feathering are all symptoms of micronutrient insufficiency.
In 2016, trace minerals were worth approximately USD 446 million. The rising number of animal illness outbreaks has boosted product demand. Abnormal skin and hooves, poor wound healing, fertility issues, muscular cramps, and hair loss are all symptoms of nutrient shortages or imbalances. Water content, vitamins, protein, and energy will be in high demand among animals in order to improve reproduction, lactation, and growth.
Up until 2024, vitamin A will grow at a rate of above 6%. Organic nutrients in small quantities are predicted to be in high demand to execute certain body activities such as releasing energy from important elements, improving body resistance, and regulating body functions.
By 2024, the poultry industry will generate more than USD 990 million in income. Growing egg and meat consumption as a result of rising middle-class affluence are significant drivers of business expansion. The poultry business will be driven by an increase in global meat demand of over 80% by 2022, mainly in India and China.
By 2024, ruminants will be worth more than USD 508 million. Another aspect driving market demand in this category is positive results among ruminants in terms of higher nutrient ingestion and improved health. Growing demand for animal husbandry, as well as rising costs for maintaining animal health, are driving this segment's rise.
In 2016, the APAC feed micronutrient market, dominated by India and China, reached over 83 kilotons. Product demand will benefit from an increase in demand for nutritious food, particularly among the older population, as life expectancy rises. Rising meat consumption, particularly in India, China, and the rest of the world, as well as favourable socioeconomic circumstances, are influencing industry demand positively. According to recent estimates, the average Japanese citizen consumes approximately 50 kilogrammes of beef each year.
The feed micronutrients market in North America, which is dominated by the United States, was valued at over USD 365 million in 2016. Because of the abundance of animal breeding centres, the region is a large user of forage additives such as vitamins, emulsifiers, and ferments. The sector is driven by strict food safety regulations on supplement use, as well as a substantial presence of a deep-rooted animal production.
Cargill Inc., Archer Daniels Midland Company (ADM), Lallemand Inc., Novus International Inc., Balchem Corp., Nutreco N.V., Kemin Industries Inc., Alltech Inc., Qualitech Inc., and Zinpro Corporation are some of the main players in the worldwide animal feed micronutrients market.