Global Animal Feed Micronutrients Market - 2019-2026
|動物飼料用微量栄養素の世界市場（2019年～2026年） Global Animal Feed Micronutrients Market - 2019-2026|
|出版日: 2020年07月18日||ページ情報: 英文||
Animal Feed Micronutrients enhance the production of high milk that is likely to boost its usage in ruminant nutrition. Heavy metals, including zinc and copper, are commonly used as micronutrients in animal feed. The main function of animal Feed Micronutrients to increase the weight of animals, especially swine, would probably provide a better outlook for the industry's growth. The product consumption contributes to the yield of high-quality meat that is projected to fuel demand over the forecast period. Demand for animal Feed Micronutrients is growing because it improves efficiency and has wide-ranging applications such as disease cure and prevention, growth driver, improves animal feed digestibility and others. The rising problem for infectious diseases such as bovine spongiform, microbial infection, and chronic disease related to feeding nutritional deficiency may create new opportunities for the landscape of a market. The Animal Feed Micronutrients market valued USDXX million in 2018 and it is expected to grow at a CAGR of XX% to reach USD XX million by 2026.
Growing usage of vitamins and trace minerals to activate important enzymes and hormones that are crucial to the metabolic processes of livestock would promote the growth of the industry. Primary benefits should help a positive outlook for the product portfolio, including skeletal growth, optimum safety, immunity and facilitation of high milk production.
Another significant factor impacting the rise of the demand for animal feed micronutrients is rapid adoption of pets. For instance, according to ACSPA, in the United States, at present, nearly 3.2 million shelter animals are adopted worldwide. In addition, the United States owns an additional 78 million dogs and 85 million cats. Also, the growing demand for animal protein from cattle processing meat and milk in combination with the recent disease outbreak in livestock is another significant factor driving the global market for animal feed micronutrients. Additionally, increasing utilization of dairy products in the food & beverage industry in the form of cheese, butter, cream, and curd is expected to drive the demand across various regions. Animal feed micronutrients facilitate high milk production, which is likely to propel its utilization in ruminant nutrition over the forecast period.
However, heavy metals, such as zinc and copper, are widely utilized as animal feed micronutrients. These metals are considered as soil pollutants and likely to restrain the market growth globally. Moreover, zinc and copper are listed as priority pollutants in 40 CFR part 423, appendix A. by the U.S., which is further expected to hinder the demand of animal feed micronutrients across the region.
The global animal feed micronutrients market can be segmented based on type, livestock, and geography. On the basis of type, it is segmented into iron, zinc, copper, and manganese. Based on livestock, the market is segmented into poultry, ruminant, swine, equine, and aqua. Among livestock segmentation, poultry has accounted for as a highest share of the global market in 2016. For instance, as per the Global Trade Tracker, China consumed around 65.6 million tonnes of meat in 2016. Additionally, surge in demand for nutritious animal-based food by the geriatric population for bone health will further promulgate the overall market growth across the region. Micronutrients play a very important role in the overall development of the layers and broilers. These facilitate superior reproduction, health, and overall performance of the birds, which are expected to drive the market growth. Fish is considered as one of the most important sources of vitamin A, iron, and zinc in human nutrition. Hence, farmers are taking efforts to improve the micronutrient intake in fish to avoid deficiencies. These factors are likely to increase the demand for micronutrients in the aqua application. The demand for micronutrients in equine feed is expected to witness a sluggish growth on account of declining equine feed production in various regions. Declining rate of horse ownership coupled with high cost of feed are the major factors affecting the market.
By region, the Animal Feed Micronutrients market is segmented into North America, South America, Europe, Asia-Pacific, Middle-East, and Africa. Asia Pacific over the forecast period is expected to dominate the market. This is because of the large cattle population in Asia Pacific. Average growth is projected for North America and Europe over the forecast period. According to the Food and Agriculture Organization of the United Nations, world meat output was estimated to be 330 million tonnes in 2017 with India witnessing 2.7% increase from 2016. Increasing disposable income among the population has instigated dietary changes such as eating more protein and meat. Limited livestock sector to meet the unlimited meat-based protein demand is employing animal nutrition for efficient quality and quantity production. The acceptance of a non-vegetarian diet can be indicated by the fact that KFC, the world's most popular chicken restaurant chain is now operating in 135 countries with more than 22,000 restaurants globally.
Rising consumer awareness concerning appropriate pet nutrition is estimated to enable owners to spend premium amounts for healthy and nourishing animal nutrition. As per the National Pet Owners Survey conducted by the American Pet Products Association (APPA) 2017-2018, 68% of the U.S families owns a pet. The North American Pet Health Insurance Association (NAPHIA) reported North America's pet health insurance with combined gross written premiums hitting USD 1.2 billion in 2017. These facts point to the significance drawn towards household pets and indicate it as a major segment poising the animal feed micronutrients market towards cumulative revenues and profits.
Key players operating in the market are Aries Agro Limited, Cargill Incorporated, Nutreco N.V., Kemin Industries, Inc., Archer Daniels Midland Company among others. Leading multinational players dominate the market and hold substantial market share, thereby, presenting tough competition to new entrants. The emerging market players are focusing on entering into strategic partnership, expansion of facilities, mergers and acquisitions are vital strategies to boost their market shares and establish a global platform. The players are also investing in the development of online payment mobile applications, in R&D activities, and for offering superior quality consultation and services to customers. For instance, in 2016, Cargill invested approximately USD 33 million to open new plants in Asia Pacific and Europe regions. The Asia Pacific region is expected to provide new opportunities for market players to expand their footprint due to increasing meat consumption.
In January 2016, the Nutreco N.V. (Netherland) Company has announced the acquisition of Micronutrients. It would strengthen Nutreco's range of animal-nutrition products.