As per the study initiated by Evolve Business Intelligence, the global Animal Feed Micronutrients Market size accounted for USD 2.37 billion in 2022, growing at a CAGR of 6.20% from 2023 to 2033. The animal feed micronutrients market refers to the segment of the agricultural industry that produces and sells micronutrient supplements for animals used in livestock and poultry farming. Micronutrients are essential elements that animals require in small quantities to maintain good health and achieve optimal growth and productivity. These elements include vitamins, minerals, and trace elements such as iron, zinc, copper, selenium, and various vitamins like vitamin A, vitamin D, and B-complex vitamins.
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- The global Animal Feed Micronutrients Market size was valued at USD 2.37 billion in 2022 growing at a CAGR of 6.20% from 2023 to 2033.
- North America dominated the market in 2022
- Asia Pacific is expected to fastest-growing at the highest CAGR from 2023 to 2033
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In terms of COVID 19 impact, the Animal Feed Micronutrients Market report also includes the following data points:
- COVID19 Impact on Animal Feed Micronutrients Market size
- End-User/Industry/Application Trend, and Preferences
- Government Policies/Regulatory Framework
- Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
- Opportunity in Animal Feed Micronutrients Market
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Some of the major Animal Feed Micronutrients Market players holding high market share include Cargill Incorporated ., Nutreco N.V ., Kemin Industries, Inc. , and Archer Daniels Midland Company . These players use partnership and collaboration as a key strategy to gain significant market share to compete with market leaders.
The key players profiled in the report are:
- Cargill Incorporated
- Nutreco N.V.
- Kemin Industries, Inc.
- Archer Daniels Midland Company
- Lallemand Inc.
- Aries Agro Limited.
Market Segment By Type with focus on market share, consumption trend, and growth rate of Animal Feed Micronutrients Market :
Market Segment By Application with focus on market share, consumption trend, and growth rate of Animal Feed Micronutrients Market :
- Aquatic animals
|Market Size (2022)||$ 2.37 billion|
|CAGR (2023 to 2033)||6.20%|
|Market Segmentation||Type, Application|
|Country Covered||US, Canada, Mexico, UK, Germany, France, Italy, Spain, Nordic Countries, BeNeLux, Rest of Europe, China, India, Japan, South Korea, Indonesia, Malaysia, Australia, Rest of Asia Pacific, Middle East & Africa, and South America|
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Global Animal Feed Micronutrients Market Geographic Coverage:
- North America
- Nordic Countries
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- Latin America
- Rest of Latin America
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- Detail analysis of the impact of market drivers, restraints, and opportunities
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