Asia-Pacific Animal Feed Micronutrients Market was worth USD
383.84 Million in 2016 and is expected to reach USD 538.35 Million by 2021 with
a CAGR of 7.0 %.
The Asia-Pacific Animal Feed Micronutrients Market is
increasing at a tremendous pace because of its large population and increasing
economies in developing countries.
Animal Feed Micronutrients are important animal feed
additives for improving animal feed quality to produce high quality animal
products like milk, wool etc. and also for the good health of pet animals.
Animal Feed micronutrients are becoming famous essentially because of the
greater performance and growing applications, for example, development promoter,
prevention, and cure of illnesses, for amplifying reproduction rate and for
improving feed digestibity in animals.
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Growing expenses on animal wellbeing, Rising interest of
owning pet animals, and wellness combined with success of animal feed
micronutrients in development and fertility of the animals are some of the
major factors driving the animal feed micronutrients market. Furthermore, the
rising demand for animal protein from milk and meat delivering cattle combined
with recent illness epidemic in cattle is further driving the animal feed
micronutrients market.
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The critical dosage use of animal feed micronutrients and
lack of awareness about the advantages of micronutrients among uneducated and
poor farmers are major factors restraining the animal feed micronutrients
industry.
Based on different types of Micronutrients, Market is
segmented into Zinc, Iron, Manganese, and Copper. Based on use of
Micronutrients by different livestock, Market is segmented into Ruminant,
Poultry, Aqua, Swine, and Equine.
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Geographically, this market is further segmented in to
China, India, Australia and south Korea. Asia-Pacific is the largest market in
this market and has highest CAGR in the forecast period.
Major companies operating in the Asia-Pacific market include
Archer Daniels Midland Company (ADM), Balchem Corp., Lallemand Inc, Alltech
Inc., Cargill Inc., Novus International Inc., Kemin Industries Inc., Zinpro
Corporation, Nutreco N.V. and Qualitech Inc.
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