Global Animal Feed Micronutrient Market to Observe Widespread Growth with Growing Spending on Livestock Farming

In recent decades, there has been a steady increase in demand for animal protein foods. Customer awareness is also increasing each year, which means breeders are obligated to provide animals with the best possible environmental conditions to improve animal production and the quality of the raw materials received from them. Today's consumers are looking for animal foods that are not only great in quality but also have health-promoting attributes. As a result, food with a favorable fatty acid profile and a high quantity of biologically active elements, such as minerals or vitamins, is desired. Micronutrients in the feed are one of the most effective techniques for supplementing meals.

Animal feed micronutrients are feed supplements that are broadly defined as trace elements that play an important role in increasing animal health by improving feed quality. A few micronutrients that are referred to as additives are molybdenum, selenium, boron, and zinc. Micronutrients aid in the maintenance and increase carbohydrate metabolism, which provides a steady supply of energy to living cells via carbohydrate degradation and mutual conversion. In addition, a variety of prebiotics, including fructooligosaccharides, isomaltooligosaccharides, and xylooligosaccharides, are used as feed additives. These indigestible components (prebiotics) promote the growth of beneficial microorganisms within the intestines and increase the capacity of animals to digest the consumed food. Additionally, they protect animals against the negative effects of tooth caries. The global animal feed micronutrient market is expanding at a rapid pace due to the government's efforts to support the livestock farming and improve animal health to address the growing concerns about food security.

Newest Insights in the Animal Feed Micronutrient Market

The rising issues about animal health and the incidence of diseases like scurvy and beriberi that are brought on by nutritional deficiencies are leading to the steady growth of the global animal feed micronutrients market. As per a report by Research Dive, the global animal feed micronutrient market is expected to surpass a revenue of $3,272.40 million in the 2022-2031 timeframe. The Asia-Pacific animal feed micronutrient market is expected to perceive foremost growth in the years to come. This is because the region has a gigantic demand for animal feed micronutrients, especially in the developing countries of India and China, in the region.

How are Market Players Responding to the Rising Demand for Animal Feed Micronutrient?

Market players are greatly investing in pioneering research and inventions to cater for the increasing demand for animal-based products. Some of the foremost players in the animal feed micronutrient market are Archer Daniels Midland Company, Nutreco N.V., Balchem Corp, Qualitech Inc., Kemin Industries Inc., Lallemand Inc., Zinpro Corporation, Novus International Inc., Alltech Inc., Cargill Inc., and others. These players are focused on planning and devising tactics such as mergers and acquisitions, collaborations, novel advances, and partnerships to reach a notable position in the global market. For instance:

• In October 2021, Cargill, a privately held American multinational food company, and BASF announced a collaboration in the animal nutrition sector, introducing new markets and R&D capabilities to the firms' present feed enzymes distribution contracts. This partnership made it easier to create, manufacture, promote, and sell swine-specific enzyme products and solutions that are customer-focused.
   
• In March 2022, Jiangxi Zhengbanga business with its headquarters in China that produces and sells feedstuffs and feed additives, announced the sale of 8 of its animal feed units to Beijing Dabeinong.
   
• In April 2022, Marel, a leading provider of processing solutions with a focus on aqua feed, plant-based proteins, and pet food (the Acquisition), formally announced the acquisition of Wenger Manufacturing LLC ("Wenger").

COVID-19 Impact on the Global Animal Feed Micronutrient Market

The unpredicted rise of the coronavirus pandemic in 2020 adversely impacted the global animal feed micronutrient market. During the pandemic period, the shutdown of international ports and restaurants around the world also influenced the animal feed industry. Supply chain disruptions due to the COVID-19 pandemic greatly impacted the animal feed micronutrient market. Additionally, COVID-19 related lockdowns, travel restrictions, and business closures greatly affected the economies and industries of many different countries. Moreover, the closure of various plants and companies harmed delivery schedules, production, and overseas sales of goods. However, the animal feed micronutrient market is expected to recover soon in the post-pandemic.